Vaughan Nelson Investment Management L.P. Buys 117,285 Shares of Rambus Inc. (NASDAQ:RMBS)

Vaughan Nelson Investment Management L.P. raised its stake in shares of Rambus Inc. (NASDAQ:RMBS) by 14.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 939,682 shares of the semiconductor company’s stock after buying an additional 117,285 shares during the period. Vaughan Nelson Investment Management L.P. owned about 0.87% of Rambus worth $58,081,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. grew its position in Rambus by 14.8% during the third quarter. JPMorgan Chase & Co. now owns 4,794,327 shares of the semiconductor company’s stock valued at $267,476,000 after buying an additional 616,670 shares during the period. Wellington Management Group LLP grew its position in shares of Rambus by 120.4% during the 4th quarter. Wellington Management Group LLP now owns 3,933,923 shares of the semiconductor company’s stock valued at $268,490,000 after acquiring an additional 2,149,396 shares during the period. Ameriprise Financial Inc. grew its position in shares of Rambus by 19.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,134,868 shares of the semiconductor company’s stock valued at $174,893,000 after acquiring an additional 515,657 shares during the period. Polar Capital Holdings Plc increased its stake in shares of Rambus by 8.0% in the 3rd quarter. Polar Capital Holdings Plc now owns 1,414,394 shares of the semiconductor company’s stock worth $78,909,000 after purchasing an additional 105,281 shares in the last quarter. Finally, Norges Bank bought a new position in Rambus in the 4th quarter worth $84,756,000. 88.54% of the stock is owned by institutional investors.

Rambus Price Performance

Shares of NASDAQ RMBS traded up $0.71 during mid-day trading on Tuesday, reaching $58.71. The company’s stock had a trading volume of 25,190 shares, compared to its average volume of 1,450,021. The stock has a fifty day moving average of $56.51 and a two-hundred day moving average of $60.83. The firm has a market capitalization of $6.33 billion, a PE ratio of 17.74 and a beta of 1.20. Rambus Inc. has a 52 week low of $48.13 and a 52 week high of $76.38.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings results on Monday, April 29th. The semiconductor company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Rambus had a net margin of 78.14% and a return on equity of 16.99%. The company had revenue of $133.60 million for the quarter, compared to the consensus estimate of $132.00 million. Analysts anticipate that Rambus Inc. will post 1.36 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on RMBS shares. Rosenblatt Securities reissued a “buy” rating and set a $85.00 price target on shares of Rambus in a report on Wednesday, March 13th. Jefferies Financial Group restated a “buy” rating and set a $75.00 target price (up previously from $72.00) on shares of Rambus in a research note on Monday, May 13th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Rambus currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.00.

Insider Transactions at Rambus

In related news, Director Eric B. Stang sold 5,408 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $56.95, for a total transaction of $307,985.60. Following the sale, the director now owns 32,422 shares of the company’s stock, valued at $1,846,432.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Luc Seraphin sold 5,530 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $58.66, for a total transaction of $324,389.80. Following the transaction, the chief executive officer now owns 262,791 shares of the company’s stock, valued at approximately $15,415,320.06. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Eric B. Stang sold 5,408 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $56.95, for a total value of $307,985.60. Following the sale, the director now owns 32,422 shares in the company, valued at approximately $1,846,432.90. The disclosure for this sale can be found here. Insiders have sold 25,938 shares of company stock valued at $1,552,625 in the last ninety days. Corporate insiders own 1.00% of the company’s stock.

About Rambus

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.