Rakuten Investment Management Inc. Invests $5.46 Million in Rambus, Inc. $RMBS

Rakuten Investment Management Inc. purchased a new stake in Rambus, Inc. (NASDAQ:RMBS) in the third quarter, HoldingsChannel reports. The firm purchased 52,387 shares of the semiconductor company’s stock, valued at approximately $5,459,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Tealwood Asset Management Inc. grew its holdings in Rambus by 0.7% during the second quarter. Tealwood Asset Management Inc. now owns 20,460 shares of the semiconductor company’s stock valued at $1,310,000 after purchasing an additional 150 shares during the period. Signaturefd LLC grew its holdings in shares of Rambus by 14.8% in the 2nd quarter. Signaturefd LLC now owns 1,288 shares of the semiconductor company’s stock valued at $82,000 after buying an additional 166 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of Rambus by 19.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,045 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 167 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of Rambus by 2.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 9,363 shares of the semiconductor company’s stock valued at $907,000 after buying an additional 187 shares in the last quarter. Finally, Campbell Newman Asset Management Inc. raised its stake in Rambus by 0.5% during the 3rd quarter. Campbell Newman Asset Management Inc. now owns 41,851 shares of the semiconductor company’s stock worth $4,361,000 after buying an additional 188 shares during the period. Institutional investors own 88.54% of the company’s stock.

Insider Activity at Rambus

In related news, Director Eric B. Stang sold 4,000 shares of the stock in a transaction on Monday, November 10th. The shares were sold at an average price of $111.78, for a total transaction of $447,120.00. Following the completion of the transaction, the director owned 20,394 shares in the company, valued at approximately $2,279,641.32. This represents a 16.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Rambus Stock Performance

NASDAQ:RMBS opened at $124.77 on Friday. The stock has a 50-day simple moving average of $97.33 and a 200 day simple moving average of $89.79. Rambus, Inc. has a 52-week low of $40.12 and a 52-week high of $135.75. The company has a market cap of $13.43 billion, a PE ratio of 59.13 and a beta of 1.51.

Rambus (NASDAQ:RMBS) last released its quarterly earnings results on Monday, October 27th. The semiconductor company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.18). The firm had revenue of $178.51 million for the quarter, compared to analyst estimates of $175.60 million. Rambus had a return on equity of 17.73% and a net margin of 33.72%.The company’s revenue was up 22.7% compared to the same quarter last year. During the same period last year, the company earned $0.45 EPS. On average, research analysts predict that Rambus, Inc. will post 1.89 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on RMBS shares. Weiss Ratings cut Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Rosenblatt Securities reiterated a “buy” rating and set a $130.00 price objective on shares of Rambus in a report on Tuesday, October 28th. Wells Fargo & Company boosted their price objective on Rambus from $73.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. Jefferies Financial Group upgraded shares of Rambus to a “strong-buy” rating in a report on Tuesday, October 28th. Finally, Susquehanna set a $100.00 price target on shares of Rambus and gave the company a “neutral” rating in a research note on Monday, October 6th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Rambus currently has an average rating of “Buy” and an average price target of $108.14.

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.