Vise Technologies Inc. Invests $917,000 in Rambus, Inc. $RMBS

Vise Technologies Inc. acquired a new stake in Rambus, Inc. (NASDAQ:RMBS) in the 2nd quarter, Holdings Channel reports. The firm acquired 6,912 shares of the semiconductor company’s stock, valued at approximately $917,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Krilogy Financial LLC increased its position in Rambus by 3.8% during the first quarter. Krilogy Financial LLC now owns 2,238 shares of the semiconductor company’s stock worth $193,000 after acquiring an additional 81 shares during the period. Oak Grove Capital LLC boosted its holdings in Rambus by 1.3% in the 4th quarter. Oak Grove Capital LLC now owns 7,600 shares of the semiconductor company’s stock valued at $698,000 after purchasing an additional 100 shares during the period. Northwestern Mutual Investment Management Company LLC grew its position in Rambus by 0.4% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 24,085 shares of the semiconductor company’s stock worth $2,213,000 after purchasing an additional 103 shares during the last quarter. Balefire LLC grew its position in Rambus by 3.8% in the 1st quarter. Balefire LLC now owns 2,932 shares of the semiconductor company’s stock worth $252,000 after purchasing an additional 108 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC increased its holdings in shares of Rambus by 3.3% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,445 shares of the semiconductor company’s stock worth $317,000 after purchasing an additional 110 shares during the period. Institutional investors and hedge funds own 88.54% of the company’s stock.

Rambus Stock Performance

Rambus stock opened at $91.24 on Monday. The firm has a market cap of $9.90 billion, a P/E ratio of 41.85 and a beta of 1.88. The business’s fifty day moving average is $108.07 and its two-hundred day moving average is $112.56. Rambus, Inc. has a 52 week low of $70.45 and a 52 week high of $174.10.

Rambus (NASDAQ:RMBS) last announced its earnings results on Monday, July 27th. The semiconductor company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.05. Rambus had a net margin of 31.69% and a return on equity of 17.89%. The company had revenue of $207.39 million for the quarter, compared to analyst estimates of $199.30 million. During the same period in the prior year, the business earned $0.53 earnings per share. Rambus’s quarterly revenue was up 20.4% on a year-over-year basis. On average, equities research analysts predict that Rambus, Inc. will post 2.52 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on RMBS shares. Robert W. Baird cut Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price target for the company. in a report on Tuesday, April 28th. Jefferies Financial Group boosted their price objective on Rambus from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Benchmark restated a “buy” rating on shares of Rambus in a research note on Tuesday, July 28th. Evercore restated an “outperform” rating and issued a $172.00 target price on shares of Rambus in a research note on Tuesday, April 28th. Finally, Wells Fargo & Company raised their target price on Rambus from $115.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $139.78.

Insider Buying and Selling

In other Rambus news, Director Eric B. Stang sold 5,000 shares of the stock in a transaction dated Monday, June 1st. The stock was 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 of the company’s stock, valued at approximately $2,805,828. This represents a 20.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Emiko Higashi sold 10,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $7,947,799.50. This trade represents a 16.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 62,914 shares of company stock worth $9,724,775. Company insiders own 0.75% of the company’s stock.

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.