Rakuten Investment Management Inc. Buys New Stake in Rambus, Inc. $RMBS

Rakuten Investment Management Inc. purchased a new stake in Rambus, Inc. (NASDAQ:RMBS) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 13,968 shares of the semiconductor company’s stock, valued at approximately $1,731,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RMBS. BlackRock Inc. purchased a new position in shares of Rambus during the 2nd quarter valued at about $1,853,645,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Rambus by 2.7% in 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 buying an additional 140,226 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Rambus by 70.6% in the fourth quarter. Invesco Ltd. now owns 4,148,653 shares of the semiconductor company’s stock worth $381,220,000 after buying an additional 1,716,621 shares during the last quarter. Geode Capital Management LLC grew its holdings in Rambus by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 2,842,715 shares of the semiconductor company’s stock worth $261,256,000 after acquiring an additional 94,214 shares during the period. Finally, EdgePoint Investment Group Inc. grew its holdings in Rambus by 38.5% during the first quarter. EdgePoint Investment Group Inc. now owns 1,947,742 shares of the semiconductor company’s stock worth $167,564,000 after acquiring an additional 541,056 shares during the period. 88.54% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Emiko Higashi sold 10,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $160.50, for a total transaction of $1,605,000.00. Following the transaction, the director owned 49,519 shares in the company, valued at $7,947,799.50. This trade represents a 16.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Necip Sayiner sold 5,000 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were 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 $3,100,643.45. This trade represents a 21.53% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.75% of the stock is owned by insiders.

Analyst Ratings Changes

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

Rambus Price Performance

NASDAQ: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 stock has a market capitalization of $9.30 billion, a PE ratio of 39.34 and a beta of 1.88. The stock’s 50-day moving average price is $103.19 and its 200-day moving average price 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, topping analysts’ consensus estimates of $0.72 by $0.05. The company had revenue of $207.39 million during the quarter, compared to analysts’ expectations of $199.30 million. Rambus had a return on equity of 17.89% and a net margin of 31.69%.Rambus’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.53 EPS. Sell-side analysts expect that Rambus, Inc. will post 2.52 earnings per share for the current fiscal year.

Rambus 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.