Harvest Fund Management Co. Ltd Buys Shares of 5,132 Rambus Inc. (NASDAQ:RMBS)

Harvest Fund Management Co. Ltd bought a new stake in shares of Rambus Inc. (NASDAQ:RMBS) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,132 shares of the semiconductor company’s stock, valued at approximately $335,000.

Other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. grew its position in shares of Rambus by 100.4% in the fourth quarter. Blue Trust Inc. now owns 447 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 224 shares during the last quarter. Fifth Third Bancorp grew its position in shares of Rambus by 65.8% in the fourth quarter. Fifth Third Bancorp now owns 504 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 200 shares during the last quarter. Orion Capital Management LLC acquired a new stake in shares of Rambus in the third quarter valued at about $39,000. GAMMA Investing LLC acquired a new stake in shares of Rambus in the fourth quarter valued at about $66,000. Finally, NBC Securities Inc. acquired a new stake in shares of Rambus in the third quarter valued at about $72,000. 88.54% of the stock is currently owned by institutional investors.

Rambus Price Performance

Shares of NASDAQ:RMBS traded up $0.08 during trading on Wednesday, reaching $56.52. The stock had a trading volume of 1,304,777 shares, compared to its average volume of 1,561,730. Rambus Inc. has a 52 week low of $43.58 and a 52 week high of $76.38. The stock has a market capitalization of $6.14 billion, a PE ratio of 18.81 and a beta of 1.16. The business’s 50-day moving average price is $59.89 and its 200 day moving average price is $62.62.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings results on Monday, February 5th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.03. Rambus had a net margin of 72.41% and a return on equity of 17.70%. The company had revenue of $136.00 million during the quarter, compared to analyst estimates of $134.00 million. Analysts forecast that Rambus Inc. will post 1.63 EPS for the current year.

Insider Activity

In other news, COO Xianzhi Sean Fan sold 2,004 shares of the business’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 completion of the transaction, the chief operating officer now owns 121,229 shares of the company’s stock, valued at approximately $6,667,595. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, COO Xianzhi Sean Fan sold 2,004 shares of the company’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 completion of the transaction, the chief operating officer now directly owns 121,229 shares of the company’s stock, valued at approximately $6,667,595. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Desmond Lynch sold 7,837 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $62.18, for a total transaction of $487,304.66. Following the completion of the transaction, the chief financial officer now directly owns 41,958 shares of the company’s stock, valued at $2,608,948.44. The disclosure for this sale can be found here. Insiders sold 121,084 shares of company stock valued at $7,408,298 in the last quarter. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

RMBS has been the topic of a number of recent research reports. Rosenblatt Securities reissued a “buy” rating and set a $85.00 target price on shares of Rambus in a research report on Wednesday, March 13th. Wells Fargo & Company lifted their target price on Rambus from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $73.20.

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.