TD Asset Management Inc Has $2.64 Million Stock Holdings in Rambus, Inc. $RMBS

TD Asset Management Inc boosted its position in Rambus, Inc. (NASDAQ:RMBS) by 463.6% during the third quarter, HoldingsChannel.com reports. The fund owned 25,306 shares of the semiconductor company’s stock after buying an additional 20,816 shares during the quarter. TD Asset Management Inc’s holdings in Rambus were worth $2,637,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in RMBS. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Rambus in the 3rd quarter valued at $25,000. True Wealth Design LLC lifted its position in shares of Rambus by 162.5% during the 2nd quarter. True Wealth Design LLC now owns 420 shares of the semiconductor company’s stock worth $27,000 after buying an additional 260 shares during the last quarter. Abound Wealth Management acquired a new stake in Rambus in the third quarter valued at about $28,000. Bessemer Group Inc. boosted its stake in Rambus by 105.8% in the second quarter. Bessemer Group Inc. now owns 463 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 238 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its position in Rambus by 1,386.0% in the second quarter. Hantz Financial Services Inc. now owns 639 shares of the semiconductor company’s stock valued at $41,000 after acquiring an additional 596 shares during the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Rambus Stock Performance

Shares of NASDAQ RMBS opened at $92.04 on Thursday. The company’s 50 day moving average price is $102.56 and its 200-day moving average price is $97.03. Rambus, Inc. has a 52-week low of $40.12 and a 52-week high of $135.75. The company has a market capitalization of $9.92 billion, a P/E ratio of 43.62 and a beta of 1.55.

Rambus (NASDAQ:RMBS) last announced its earnings results on Monday, February 2nd. The semiconductor company reported $0.68 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.68. The business had revenue of $190.24 million during the quarter, compared to the consensus estimate of $188.21 million. Rambus had a net margin of 32.57% and a return on equity of 17.69%. Analysts forecast that Rambus, Inc. will post 1.89 earnings per share for the current year.

Insider Activity

In other Rambus news, CFO Desmond Lynch sold 4,273 shares of Rambus stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $101.53, for a total value of $433,837.69. Following the completion of the sale, the chief financial officer directly owned 63,618 shares in the company, valued at approximately $6,459,135.54. The trade was a 6.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Luc Seraphin sold 39,914 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $98.63, for a total value of $3,936,717.82. Following the transaction, the chief executive officer owned 331,070 shares in the company, valued at $32,653,434.10. The trade was a 10.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. William Blair started coverage on shares of Rambus in a report on Thursday, January 22nd. They issued an “outperform” rating for the company. Cfra lowered shares of Rambus from a “hold” rating to a “moderate sell” rating in a research report on Monday, December 15th. Susquehanna lowered their price target on shares of Rambus from $100.00 to $90.00 and set a “neutral” rating for the company in a report on Tuesday, February 3rd. Zacks Research upgraded Rambus to a “hold” rating in a research note on Monday, January 26th. Finally, Evercore cut their price objective on Rambus from $126.00 to $119.00 and set an “outperform” rating on the stock in a report on Tuesday, February 3rd. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $105.71.

Rambus Profile

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.