Federated Hermes Inc. Takes Position in Rambus Inc. (NASDAQ:RMBS)

Federated Hermes Inc. purchased a new stake in shares of Rambus Inc. (NASDAQ:RMBS) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 12,189 shares of the semiconductor company’s stock, valued at approximately $832,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. increased its position in shares of Rambus by 100.4% during the fourth quarter. Blue Trust Inc. now owns 447 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 224 shares during the period. Fifth Third Bancorp grew its holdings in shares of Rambus by 65.8% during the fourth quarter. Fifth Third Bancorp now owns 504 shares of the semiconductor company’s stock worth $34,000 after purchasing an additional 200 shares in the last quarter. Orion Capital Management LLC purchased a new position in shares of Rambus during the third quarter worth about $39,000. NBC Securities Inc. purchased a new stake in Rambus in the third quarter worth approximately $72,000. Finally, Exchange Traded Concepts LLC purchased a new stake in Rambus in the third quarter worth approximately $78,000. 88.54% of the stock is currently owned by institutional investors.

Rambus Stock Down 3.8 %

Shares of RMBS stock opened at $52.75 on Thursday. The stock has a fifty day moving average of $59.99 and a 200 day moving average of $62.48. Rambus Inc. has a 52 week low of $44.51 and a 52 week high of $76.38. The firm has a market capitalization of $5.73 billion, a price-to-earnings ratio of 16.13 and a beta of 1.16.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings results on Monday, April 29th. The semiconductor company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.14). Rambus had a return on equity of 17.04% and a net margin of 78.14%. The business had revenue of $117.90 million during the quarter, compared to analysts’ expectations of $132.00 million. During the same period in the previous year, the business earned $0.35 EPS. The business’s revenue was up 3.6% compared to the same quarter last year. Equities research analysts anticipate that Rambus Inc. will post 1.63 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of Rambus from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Rosenblatt Securities restated a “buy” rating and issued a $85.00 target price on shares of Rambus in a report on Wednesday, March 13th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Rambus presently has an average rating of “Moderate Buy” and a consensus price target of $77.75.

Insider Buying and Selling at Rambus

In other Rambus news, CEO Luc Seraphin sold 15,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $62.17, for a total transaction of $932,550.00. Following the completion of the transaction, the chief executive officer now owns 304,755 shares of the company’s stock, valued at $18,946,618.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Rambus news, CEO Luc Seraphin sold 15,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $62.17, for a total transaction of $932,550.00. Following the completion of the transaction, the chief executive officer now owns 304,755 shares of the company’s stock, valued at $18,946,618.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Xianzhi Sean Fan sold 2,004 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $55.00, for a total value of $110,220.00. Following the transaction, the chief operating officer now directly owns 121,229 shares of the company’s stock, valued at approximately $6,667,595. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 121,084 shares of company stock valued at $7,408,298. 1.00% of the stock is currently owned by company insiders.

Rambus Profile

Rambus Inc provides semiconductor products in the United States, South Korea, Singapore, and internationally. The company offers DDR memory interface chips, including DDR5 and DDR4 memory interface chips to module manufacturers, OEMs, and hyperscalers; silicon IP, such as interface and security IP solutions that move and protect data in advanced data center, government, and automotive applications; and interface IP solutions for high-speed memory and chip-to-chip digital controller IP.