Man Group plc Takes $5.12 Million Position in Rambus, Inc. $RMBS

Man Group plc acquired a new position in shares of Rambus, Inc. (NASDAQ:RMBS) during the 2nd quarter, Holdings Channel reports. The firm acquired 38,613 shares of the semiconductor company’s stock, valued at approximately $5,125,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Acumen Wealth Advisors LLC acquired a new stake in Rambus in the 4th quarter valued at about $25,000. Danske Bank A S bought a new position in Rambus during the second quarter worth about $27,000. University of Texas Texas AM Investment Management Co. acquired a new position in Rambus during the fourth quarter worth approximately $28,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Rambus during the second quarter worth approximately $41,000. Finally, Western Wealth Management LLC bought a new stake in Rambus in the first quarter valued at approximately $44,000. 88.54% of the stock is owned by institutional investors.

Analyst Ratings Changes

RMBS has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rambus in a research report on Friday, June 5th. Glj Research set a $165.00 target price on Rambus in a report on Tuesday, July 28th. Rosenblatt Securities restated a “buy” rating and issued a $165.00 price target on shares of Rambus in a research note on Tuesday, July 28th. Finally, Benchmark reaffirmed a “buy” rating on shares of Rambus in a report on Tuesday, July 28th. Six research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.88.

Insider Activity at Rambus

In other news, Director Emiko Higashi sold 10,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the director owned 49,519 shares of the company’s stock, valued at approximately $7,947,799.50. This represents a 16.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Necip Sayiner sold 5,000 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $170.15, for a total value of $850,750.00. Following the transaction, the director owned 18,223 shares in the company, valued at approximately $3,100,643.45. This trade represents a 21.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.75% of the stock is currently owned by corporate insiders.

Rambus Stock Performance

Shares of RMBS opened at $85.76 on Monday. Rambus, Inc. has a 52 week low of $70.90 and a 52 week high of $174.10. The firm has a market cap of $9.30 billion, a P/E ratio of 39.34 and a beta of 1.88. The firm’s 50-day simple moving average is $103.19 and its 200 day simple moving average is $112.05.

Rambus (NASDAQ:RMBS) last released its quarterly earnings results on Monday, July 27th. The semiconductor company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.05. The firm had revenue of $207.39 million for 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 business’s revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.53 EPS. As a group, equities analysts forecast that Rambus, Inc. will post 2.52 earnings per share for the current year.

Rambus Company Profile

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.