Epoch Investment Partners Inc. Has $7.55 Million Stock Holdings in Rambus Inc. (NASDAQ:RMBS)

Epoch Investment Partners Inc. decreased its position in shares of Rambus Inc. (NASDAQ:RMBS) by 9.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 122,172 shares of the semiconductor company’s stock after selling 13,115 shares during the period. Epoch Investment Partners Inc. owned about 0.11% of Rambus worth $7,551,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Rambus by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 11,651,114 shares of the semiconductor company’s stock worth $720,155,000 after acquiring an additional 275,160 shares in the last quarter. Wellington Management Group LLP boosted its position in Rambus by 120.4% in the fourth quarter. Wellington Management Group LLP now owns 3,933,923 shares of the semiconductor company’s stock valued at $268,490,000 after buying an additional 2,149,396 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Rambus by 6.1% in the first quarter. Bank of New York Mellon Corp now owns 2,307,798 shares of the semiconductor company’s stock valued at $142,645,000 after buying an additional 132,939 shares in the last quarter. Norges Bank acquired a new stake in Rambus in the fourth quarter valued at approximately $84,756,000. Finally, Vaughan Nelson Investment Management L.P. boosted its position in Rambus by 14.3% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 939,682 shares of the semiconductor company’s stock valued at $58,081,000 after buying an additional 117,285 shares in the last quarter. Institutional investors and hedge funds own 88.54% of the company’s stock.

Insider Activity

In other news, Director Eric B. Stang sold 5,408 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $56.95, for a total transaction of $307,985.60. Following the completion of the sale, the director now directly owns 32,422 shares of the company’s stock, valued at approximately $1,846,432.90. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RMBS. Jefferies Financial Group restated a “buy” rating and issued a $75.00 target price (up previously from $72.00) on shares of Rambus in a research report on Monday, May 13th. Susquehanna cut their target price on shares of Rambus from $75.00 to $66.00 and set a “positive” rating on the stock in a research report on Friday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Rambus has a consensus rating of “Moderate Buy” and an average price target of $77.75.

Rambus Stock Up 1.6 %

Shares of RMBS opened at $59.95 on Monday. The business’s fifty day moving average is $58.44 and its 200 day moving average is $60.14. Rambus Inc. has a 12-month low of $48.13 and a 12-month high of $76.38. The stock has a market cap of $6.46 billion, a P/E ratio of 18.04 and a beta of 1.20.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings data on Monday, April 29th. The semiconductor company reported $0.38 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $132.00 million. On average, analysts expect that Rambus Inc. will post 1.36 EPS for the current year.

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.