5,610 Shares in Rambus, Inc. $RMBS Purchased by Castleark Management LLC

Castleark Management LLC purchased a new stake in shares of Rambus, Inc. (NASDAQ:RMBS) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,610 shares of the semiconductor company’s stock, valued at approximately $745,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. BlackRock Inc. bought a new position in Rambus in the 2nd quarter valued at $1,853,645,000. Price T Rowe Associates Inc. MD raised its position in shares of Rambus by 2.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,385,570 shares of the semiconductor company’s stock worth $494,881,000 after acquiring an additional 140,226 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Rambus by 70.6% during the fourth quarter. Invesco Ltd. now owns 4,148,653 shares of the semiconductor company’s stock valued at $381,220,000 after acquiring an additional 1,716,621 shares during the period. Geode Capital Management LLC lifted its stake in shares of Rambus by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 2,842,715 shares of the semiconductor company’s stock valued at $261,256,000 after acquiring an additional 94,214 shares during the period. Finally, EdgePoint Investment Group Inc. boosted its holdings in Rambus by 38.5% in the first quarter. EdgePoint Investment Group Inc. now owns 1,947,742 shares of the semiconductor company’s stock valued at $167,564,000 after acquiring an additional 541,056 shares during the last quarter. Institutional investors and hedge funds own 88.54% of the company’s stock.

Insider Buying and Selling at Rambus

In other Rambus news, Director Emiko Higashi sold 10,000 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $160.50, for a total value of $1,605,000.00. Following the completion of the sale, the director directly owned 49,519 shares in the company, valued at $7,947,799.50. This represents a 16.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Necip Sayiner sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $170.15, for a total value of $850,750.00. Following the sale, the director directly owned 18,223 shares in the company, valued at approximately $3,100,643.45. This represents a 21.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 20,000 shares of company stock valued at $3,185,750. Company insiders own 0.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RMBS. Rosenblatt Securities reissued a “buy” rating and set a $165.00 price target on shares of Rambus in a research note on Tuesday, July 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rambus in a report on Friday, June 5th. Benchmark reiterated a “buy” rating on shares of Rambus in a research report on Tuesday, July 28th. Finally, Glj Research set a $165.00 price target on Rambus in a research note on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold 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 $139.78.

Rambus Stock Up 0.2%

Shares of NASDAQ RMBS opened at $90.03 on Thursday. Rambus, Inc. has a twelve month low of $70.90 and a twelve month high of $174.10. The stock has a market cap of $9.76 billion, a price-to-earnings ratio of 41.30 and a beta of 1.88. The company’s fifty day moving average is $105.30 and its 200-day moving average is $112.34.

Rambus (NASDAQ:RMBS) last released its quarterly earnings data on Monday, July 27th. The semiconductor company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.05. The business had revenue of $207.39 million during the quarter, compared to analysts’ expectations of $199.30 million. Rambus had a net margin of 31.69% and a return on equity of 17.89%. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 EPS. On average, research analysts anticipate that Rambus, Inc. will post 2.52 EPS 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.