Hsbc Holdings PLC Buys 41,684 Shares of Rambus, Inc. $RMBS

by · The Markets Daily

Hsbc Holdings PLC lifted its stake in shares of Rambus, Inc. (NASDAQ:RMBS – Free Report) by 658.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 48,013 shares of the semiconductor company’s stock after acquiring an additional 41,684 shares during the period. Hsbc Holdings PLC’s holdings in Rambus were worth $6,110,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Acumen Wealth Advisors LLC acquired a new stake in Rambus in the 4th quarter worth approximately $25,000. Danske Bank A S acquired a new stake in shares of Rambus in the second quarter worth $27,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Rambus during the 4th quarter worth $28,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Rambus during the 2nd quarter worth $41,000. Finally, Western Wealth Management LLC acquired a new position in Rambus in the 1st quarter valued at $44,000. Institutional investors and hedge funds own 88.54% of the company’s stock.

Rambus Trading Up 0.9%

RMBS opened at $87.65 on Thursday. The stock has a market cap of $9.51 billion, a PE ratio of 40.21 and a beta of 1.88. Rambus, Inc. has a 1 year low of $75.02 and a 1 year high of $174.10. The stock’s 50 day simple moving average is $96.66 and its 200-day simple moving average is $111.13.

Rambus (NASDAQ:RMBS – Get Free Report) last issued its earnings results on Monday, July 27th. The semiconductor company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.05. The business had revenue of $207.39 million for the quarter, compared to analyst estimates of $199.30 million. Rambus had a net margin of 31.69% and a return on equity of 17.89%. The firm’s revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.53 EPS. Equities analysts forecast that Rambus, Inc. will post 2.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Rosenblatt Securities reissued a “buy” rating and set a $165.00 target price on shares of Rambus in a research report on Tuesday, July 28th. Benchmark reaffirmed a “buy” rating on shares of Rambus in a research report on Tuesday, July 28th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rambus in a research note on Wednesday, September 2nd. Finally, Glj Research set a $165.00 price objective on Rambus in a research report on Tuesday, July 28th. Six research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Rambus currently has a consensus rating of “Moderate Buy” and an average price target of $145.88.

Read Our Latest Report on RMBS

About Rambus

(Free Report)

Rambus Inc is a technology licensing company specializing in semiconductor and system-level interface solutions. Founded in 1990 by Stanford University researchers Mike Farmwald and Mark Horowitz, Rambus established its headquarters in Sunnyvale, California. The company initially gained prominence by developing high-speed DRAM interface technology and securing a broad patent portfolio covering memory architecture, data signaling and power management innovations.

Today, Rambus licenses its proprietary intellectual property (IP) to semiconductor companies, original equipment manufacturers (OEMs) and system integrators worldwide.

See Also

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