The Manufacturers Life Insurance Company acquired a new position in Rambus, Inc. (NASDAQ:RMBS – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 797,195 shares of the semiconductor company’s stock, valued at approximately $105,820,000. The Manufacturers Life Insurance Company owned approximately 0.74% of Rambus as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Rambus during the 2nd quarter worth about $1,853,645,000. Price T Rowe Associates Inc. MD increased its position in shares of Rambus by 2.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,385,570 shares of the semiconductor company’s stock valued at $494,881,000 after acquiring an additional 140,226 shares during the last quarter. Invesco Ltd. increased its position in shares of Rambus by 70.6% in the fourth quarter. Invesco Ltd. now owns 4,148,653 shares of the semiconductor company’s stock valued at $381,220,000 after acquiring an additional 1,716,621 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Rambus by 3.4% in the fourth quarter. Geode Capital Management LLC now owns 2,842,715 shares of the semiconductor company’s stock valued at $261,256,000 after acquiring an additional 94,214 shares during the last quarter. Finally, EdgePoint Investment Group Inc. raised its holdings in Rambus by 38.5% during the first quarter. EdgePoint Investment Group Inc. now owns 1,947,742 shares of the semiconductor company’s stock worth $167,564,000 after acquiring an additional 541,056 shares in the last quarter. Institutional investors and hedge funds own 88.54% of the company’s stock.
Insider Buying and Selling
In related news, Director Necip Sayiner sold 5,000 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $170.15, for a total value of $850,750.00. Following the sale, the director owned 18,223 shares in the company, valued at approximately $3,100,643.45. This represents a 21.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Emiko Higashi sold 10,000 shares of the firm’s 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 sale, the director directly owned 49,519 shares of the company’s stock, valued at $7,947,799.50. This represents a 16.80% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 20,000 shares of company stock valued at $3,185,750. 0.75% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
Check Out Our Latest Research Report on Rambus
Rambus Stock Performance
Rambus stock opened at $89.86 on Wednesday. Rambus, Inc. has a 52 week low of $70.90 and a 52 week high of $174.10. The stock has a market capitalization of $9.75 billion, a P/E ratio of 41.22 and a beta of 1.88. The stock has a 50-day simple moving average of $106.10 and a 200 day simple moving average of $112.40.
Rambus (NASDAQ:RMBS – Get Free Report) last released 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. Rambus had a return on equity of 17.89% and a net margin of 31.69%.The firm had revenue of $207.39 million for the quarter, compared to analyst estimates of $199.30 million. During the same quarter in the prior year, the company earned $0.53 earnings per share. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. Research analysts forecast that Rambus, Inc. will post 2.52 earnings per share for the current year.
Rambus Company 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.
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