Hussman Strategic Advisors Inc. Invests $1.09 Million in Rambus, Inc. $RMBS

Hussman Strategic Advisors Inc. purchased a new stake in Rambus, Inc. (NASDAQ:RMBS) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 10,500 shares of the semiconductor company’s stock, valued at approximately $1,094,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its holdings in Rambus by 1,216.0% during the 2nd quarter. Nordea Investment Management AB now owns 69,116 shares of the semiconductor company’s stock valued at $4,381,000 after buying an additional 63,864 shares during the last quarter. Oak Grove Capital LLC purchased a new stake in shares of Rambus in the second quarter valued at $519,000. First Citizens Bank & Trust Co. boosted its stake in shares of Rambus by 250.9% during the second quarter. First Citizens Bank & Trust Co. now owns 13,591 shares of the semiconductor company’s stock valued at $870,000 after acquiring an additional 9,718 shares during the last quarter. Neuberger Berman Group LLC increased its position in Rambus by 5.1% during the 2nd quarter. Neuberger Berman Group LLC now owns 1,348,038 shares of the semiconductor company’s stock worth $86,300,000 after purchasing an additional 65,870 shares in the last quarter. Finally, Panagora Asset Management Inc. boosted its position in Rambus by 3.7% during the second quarter. Panagora Asset Management Inc. now owns 477,359 shares of the semiconductor company’s stock worth $30,561,000 after acquiring an additional 16,921 shares during the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Price Performance

Shares of NASDAQ:RMBS opened at $124.44 on Thursday. The business has a 50-day moving average of $99.44 and a two-hundred day moving average of $91.45. The firm has a market capitalization of $13.40 billion, a PE ratio of 58.98 and a beta of 1.51. Rambus, Inc. has a 12 month low of $40.12 and a 12 month high of $135.75.

Rambus (NASDAQ:RMBS) last issued its earnings results on Monday, October 27th. The semiconductor company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.18). The firm had revenue of $178.51 million for the quarter, compared to analysts’ expectations of $175.60 million. Rambus had a return on equity of 17.73% and a net margin of 33.72%.The firm’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.45 EPS. As a group, research analysts anticipate that Rambus, Inc. will post 1.89 earnings per share for the current year.

Analyst Upgrades and Downgrades

RMBS has been the subject of several analyst reports. Rosenblatt Securities reiterated a “buy” rating and issued a $130.00 price target on shares of Rambus in a report on Tuesday, October 28th. Zacks Research upgraded Rambus to a “hold” rating in a research note on Monday. Evercore ISI raised their price target on Rambus from $114.00 to $126.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 28th. Jefferies Financial Group raised shares of Rambus to a “strong-buy” rating in a research note on Tuesday, October 28th. Finally, Cfra Research cut shares of Rambus from a “hold” rating to a “moderate sell” rating in a research report on Monday, December 15th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $108.14.

Insiders Place Their Bets

In other Rambus news, Director Eric B. Stang sold 5,000 shares of Rambus stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $102.35, for a total transaction of $511,750.00. Following the transaction, the director directly owned 24,394 shares of the company’s stock, valued at $2,496,725.90. The trade was a 17.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.00% of the stock is currently owned by company insiders.

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.