Legal & General Group Plc Acquires New Holdings in Rambus, Inc. $RMBS

Legal & General Group Plc bought a new position in Rambus, Inc. (NASDAQ:RMBS) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 153,857 shares of the semiconductor company’s stock, valued at approximately $20,392,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company acquired a new position in Rambus during the second quarter valued at approximately $105,820,000. Ranger Investment Management L.P. acquired a new stake in shares of Rambus in the second quarter worth $23,454,000. Sanctuary Advisors LLC acquired a new stake in shares of Rambus in the second quarter worth $872,000. Meiji Yasuda Asset Management Co Ltd. bought a new stake in shares of Rambus during the 2nd quarter worth $5,145,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in Rambus in the 2nd quarter valued at $227,000. Institutional investors own 88.54% of the company’s stock.

Insider Transactions at Rambus

In related news, Director Emiko Higashi sold 10,000 shares of the stock in a transaction dated 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 completion of the sale, the director owned 49,519 shares in the company, valued at approximately $7,947,799.50. This trade represents a 16.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eric B. Stang sold 5,000 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $146.00, for a total value of $730,000.00. Following the transaction, the director owned 19,218 shares in the company, valued at $2,805,828. This represents a 20.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 20,000 shares of company stock worth $3,185,750. 0.75% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

Rambus Trading Down 5.9%

Shares of Rambus stock opened at $85.76 on Friday. The company’s fifty day simple moving average is $103.19 and its 200-day simple moving average is $112.04. The company has a market cap of $9.30 billion, a price-to-earnings ratio of 39.34 and a beta of 1.88. Rambus, Inc. has a 1 year low of $70.90 and a 1 year high of $174.10.

Rambus (NASDAQ:RMBS) last released its earnings results on Monday, July 27th. The semiconductor company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.72 by $0.05. Rambus had a net margin of 31.69% and a return on equity of 17.89%. The firm had revenue of $207.39 million during the quarter, compared to analysts’ expectations of $199.30 million. During the same period in the prior year, the company earned $0.53 EPS. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. As a group, research analysts forecast 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.