Canada Pension Plan Investment Board bought a new stake in Rambus, Inc. (NASDAQ:RMBS – Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 330,648 shares of the semiconductor company’s stock, valued at approximately $43,890,000. Canada Pension Plan Investment Board owned about 0.30% of Rambus at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of RMBS. Danske Bank A S acquired a new stake in Rambus during the 2nd quarter valued at $27,000. Acumen Wealth Advisors LLC acquired a new position in Rambus in the fourth quarter worth $25,000. Torren Management LLC acquired a new position in Rambus in the fourth quarter worth $26,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Rambus in the second quarter worth $41,000. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in shares of Rambus during the fourth quarter worth $28,000. 88.54% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on RMBS. Weiss Ratings restated a “hold (c+)” rating on shares of Rambus in a research note on Friday, June 5th. Glj Research set a $165.00 price target on shares of Rambus in a research report on Tuesday, July 28th. Benchmark reissued a “buy” rating on shares of Rambus in a report on Tuesday, July 28th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $165.00 price objective on shares of Rambus in a research report on Tuesday, July 28th. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Rambus has an average rating of “Moderate Buy” and an average price target of $145.88.
Insider Activity at Rambus
In related news, Director Eric B. Stang sold 5,000 shares of Rambus stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $146.00, for a total transaction of $730,000.00. Following the transaction, the director owned 19,218 shares of the company’s stock, valued at $2,805,828. This trade represents a 20.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Emiko Higashi sold 10,000 shares of Rambus stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $160.50, for a total transaction of $1,605,000.00. Following the transaction, the director directly owned 49,519 shares in the company, valued at $7,947,799.50. The trade was a 16.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 20,000 shares of company stock worth $3,185,750 in the last ninety days. Company insiders own 0.75% of the company’s stock.
Rambus Trading Up 1.2%
NASDAQ:RMBS opened at $91.11 on Friday. Rambus, Inc. has a 1-year low of $70.90 and a 1-year high of $174.10. The business’s 50-day moving average price is $104.29 and its two-hundred day moving average price is $112.23. The firm has a market capitalization of $9.88 billion, a price-to-earnings ratio of 41.79 and a beta of 1.88.
Rambus (NASDAQ:RMBS – Get Free Report) last issued 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. The firm had revenue of $207.39 million for the quarter, compared to analysts’ expectations of $199.30 million. Rambus had a return on equity of 17.89% and a net margin of 31.69%.The company’s revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.53 earnings per share. Sell-side analysts predict that Rambus, Inc. will post 2.52 earnings per share for the current year.
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.
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