Hillsdale Investment Management Inc. Increases Holdings in Rambus Inc. (NASDAQ:RMBS)

Hillsdale Investment Management Inc. raised its stake in shares of Rambus Inc. (NASDAQ:RMBS) by 80,775.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 64,700 shares of the semiconductor company’s stock after buying an additional 64,620 shares during the period. Hillsdale Investment Management Inc.’s holdings in Rambus were worth $3,999,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Rise Advisors LLC purchased a new stake in shares of Rambus in the 1st quarter worth $28,000. Blue Trust Inc. increased its stake in shares of Rambus by 100.4% in the 4th quarter. Blue Trust Inc. now owns 447 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 224 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of Rambus by 65.8% in the 4th 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. GAMMA Investing LLC purchased a new stake in shares of Rambus in the 4th quarter worth $66,000. Finally, Fidelis Capital Partners LLC purchased a new stake in shares of Rambus in the 1st quarter worth $90,000. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Rambus news, Director Eric B. Stang sold 5,408 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $56.95, for a total value of $307,985.60. Following the completion of the sale, the director now owns 32,422 shares in the company, valued at approximately $1,846,432.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, Jefferies Financial Group restated a “buy” rating and issued a $75.00 price objective (up from $72.00) on shares of Rambus in a research note on Monday, May 13th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $81.67.

Rambus Stock Up 9.1 %

RMBS stock traded up $5.30 during trading on Monday, reaching $63.27. The company’s stock had a trading volume of 1,793,595 shares, compared to its average volume of 1,443,088. Rambus Inc. has a 1 year low of $48.13 and a 1 year high of $76.38. The company has a market capitalization of $6.82 billion, a P/E ratio of 19.35 and a beta of 1.20. The company’s fifty day moving average is $58.34 and its 200-day moving average is $60.30.

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

Rambus Company 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.