New Age Alpha Advisors LLC Purchases New Stake in Rambus, Inc. $RMBS

New Age Alpha Advisors LLC purchased a new stake in Rambus, Inc. (NASDAQ:RMBS) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 28,668 shares of the semiconductor company’s stock, valued at approximately $2,634,000.

Several other hedge funds have also bought and sold shares of RMBS. Torren Management LLC acquired a new stake in Rambus in the 4th quarter valued at $26,000. Spire Wealth Management grew its position in Rambus by 199.0% in the 4th quarter. Spire Wealth Management now owns 302 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 201 shares during the period. IFP Advisors Inc grew its position in Rambus by 126.7% in the 3rd quarter. IFP Advisors Inc now owns 442 shares of the semiconductor company’s stock valued at $47,000 after purchasing an additional 247 shares during the period. EverSource Wealth Advisors LLC grew its position in Rambus by 83.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 777 shares of the semiconductor company’s stock valued at $50,000 after purchasing an additional 353 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Rambus in the 4th quarter valued at $50,000. Institutional investors and hedge funds own 88.54% of the company’s stock.

Wall Street Analyst Weigh In

RMBS has been the subject of several research reports. Rosenblatt Securities lifted their price target on shares of Rambus from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Weiss Ratings cut Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, March 10th. Evercore restated an “outperform” rating and set a $172.00 price objective on shares of Rambus in a research note on Tuesday, April 28th. Jefferies Financial Group raised their price objective on Rambus from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Finally, Wells Fargo & Company raised their price objective on Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Rambus has a consensus rating of “Moderate Buy” and a consensus target price of $130.43.

Insider Buying and Selling at Rambus

In other news, Director Meera Rao sold 8,538 shares of Rambus stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $118.08, for a total transaction of $1,008,167.04. Following the sale, the director directly owned 22,946 shares in the company, valued at $2,709,463.68. The trade was a 27.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Xianzhi Sean Fan sold 37,914 shares of Rambus stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $151.69, for a total value of $5,751,174.66. Following the sale, the executive vice president owned 168,358 shares in the company, valued at $25,538,225.02. The trade was a 18.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 94,764 shares of company stock worth $11,612,914. Corporate insiders own 0.75% of the company’s stock.

Rambus Trading Up 10.0%

Shares of NASDAQ:RMBS opened at $157.23 on Wednesday. The stock’s fifty day simple moving average is $115.30 and its two-hundred day simple moving average is $105.06. Rambus, Inc. has a 1-year low of $52.12 and a 1-year high of $161.80. The stock has a market cap of $17.00 billion, a PE ratio of 74.87 and a beta of 1.79.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings data on Monday, April 27th. The semiconductor company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.02. Rambus had a return on equity of 17.41% and a net margin of 31.90%.The business had revenue of $180.19 million for the quarter, compared to analysts’ expectations of $179.94 million. On average, sell-side analysts forecast that Rambus, Inc. will post 2.44 earnings per share for the current fiscal year.

About Rambus

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.