Goldman Sachs Group Inc. Boosts Holdings in Rambus, Inc. $RMBS

Goldman Sachs Group Inc. grew its holdings in shares of Rambus, Inc. (NASDAQ:RMBS) by 0.6% during the 4th quarter, HoldingsChannel reports. The fund owned 1,194,391 shares of the semiconductor company’s stock after acquiring an additional 7,258 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Rambus were worth $109,753,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in RMBS. Torren Management LLC purchased a new position in shares of Rambus during the fourth quarter worth approximately $26,000. Spire Wealth Management raised its stake in shares of Rambus by 199.0% during the fourth quarter. Spire Wealth Management now owns 302 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 201 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Rambus by 126.7% during the third quarter. IFP Advisors Inc now owns 442 shares of the semiconductor company’s stock worth $47,000 after acquiring an additional 247 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Rambus during the fourth quarter worth approximately $50,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Rambus by 83.3% during the second quarter. EverSource Wealth Advisors LLC now owns 777 shares of the semiconductor company’s stock worth $50,000 after acquiring an additional 353 shares in the last quarter. 88.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RMBS has been the topic of several research reports. Jefferies Financial Group lifted their price target on shares of Rambus from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Wells Fargo & Company lifted their price target on shares of Rambus from $115.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Weiss Ratings downgraded shares of Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, March 10th. Robert W. Baird downgraded shares of Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price target on the stock. in a research note on Tuesday, April 28th. Finally, Evercore reissued an “outperform” rating and set a $172.00 price target on shares of Rambus in a research note on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $130.43.

Insider Buying and Selling

In related news, Director Emiko Higashi sold 10,000 shares of Rambus stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $160.50, for a total value of $1,605,000.00. Following the transaction, the director directly owned 49,519 shares of the company’s stock, valued at $7,947,799.50. The trade was a 16.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Luc Seraphin sold 5,426 shares of Rambus stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $86.65, for a total transaction of $470,162.90. Following the completion of the transaction, the chief executive officer directly owned 345,767 shares in the company, valued at approximately $29,960,710.55. The trade was a 1.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 79,850 shares of company stock valued at $11,649,796 over the last quarter. Company insiders own 0.75% of the company’s stock.

Rambus Stock Up 4.6%

Shares of NASDAQ RMBS opened at $152.03 on Tuesday. Rambus, Inc. has a 52 week low of $57.98 and a 52 week high of $174.10. The firm’s fifty day moving average is $126.39 and its 200 day moving average is $108.55. The company has a market cap of $16.44 billion, a price-to-earnings ratio of 72.40 and a beta of 1.84.

Rambus (NASDAQ:RMBS) last issued its earnings results on Monday, April 27th. The semiconductor company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.61 by $0.02. Rambus had a net margin of 31.90% and a return on equity of 17.41%. The company had revenue of $180.19 million for the quarter, compared to the consensus estimate of $179.94 million. Equities research analysts anticipate that Rambus, Inc. will post 2.44 earnings per share for the current 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.