53,368 Shares in Rambus, Inc. $RMBS Acquired by Nicholas Investment Partners LP

Nicholas Investment Partners LP acquired a new position in shares of Rambus, Inc. (NASDAQ:RMBS – Free Report) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 53,368 shares of the semiconductor company’s stock, valued at approximately $7,084,000.

Several other large investors also recently added to or reduced their stakes in the stock. Acumen Wealth Advisors LLC acquired a new stake in shares of Rambus in the 4th quarter worth $25,000. Torren Management LLC acquired a new position in shares of Rambus during the 4th quarter valued at about $26,000. Danske Bank A S acquired a new position in shares of Rambus during the 2nd quarter valued at about $27,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Rambus in the fourth quarter valued at about $28,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Rambus in the second quarter valued at about $41,000. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

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Rambus Trading Down 4.6%

NASDAQ RMBS opened at $87.07 on Tuesday. The stock has a fifty day simple moving average of $106.95 and a 200-day simple moving average of $112.48. The stock has a market cap of $9.44 billion, a PE ratio of 39.94 and a beta of 1.88. Rambus, Inc. has a twelve month low of $70.90 and a twelve month high of $174.10.

Rambus (NASDAQ:RMBS – Get Free Report) last issued its quarterly earnings data on Monday, July 27th. The semiconductor company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.05. The firm had revenue of $207.39 million for the quarter, compared to analyst estimates of $199.30 million. Rambus had a net margin of 31.69% and a return on equity of 17.89%. Rambus’s revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.53 EPS. Research analysts predict that Rambus, Inc. will post 2.52 EPS for the current year.

Insiders Place Their Bets

In other news, Director Eric B. Stang sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $146.00, for a total value of $730,000.00. Following the sale, the director directly owned 19,218 shares of the company’s stock, valued at approximately $2,805,828. The trade was a 20.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Necip Sayiner sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $170.15, for a total transaction of $850,750.00. Following the completion of the transaction, the director owned 18,223 shares in the company, valued at approximately $3,100,643.45. This represents a 21.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 20,000 shares of company stock valued at $3,185,750 over the last 90 days. 0.75% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on RMBS shares. Glj Research set a $165.00 price objective on shares of Rambus in a research report on Tuesday, July 28th. Evercore reiterated an “outperform” rating and issued a $172.00 target price on shares of Rambus in a report on Tuesday, April 28th. Benchmark reissued a “buy” rating on shares of Rambus in a research note on Tuesday, July 28th. Jefferies Financial Group raised their price target on shares of Rambus from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $165.00 price target on shares of Rambus in a research report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $139.78.

Check Out Our Latest Stock Analysis on RMBS

Rambus Profile

(Free Report)

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.

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