901,750 Shares in Rambus, Inc. $RMBS Bought by Rafferty Asset Management LLC

Rafferty Asset Management LLC bought a new stake in Rambus, Inc. (NASDAQ:RMBS) during the third quarter, according to its most recent filing with the SEC. The firm bought 901,750 shares of the semiconductor company’s stock, valued at approximately $93,962,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RMBS. Hussman Strategic Advisors Inc. acquired a new stake in Rambus in the 3rd quarter worth $1,094,000. Nordea Investment Management AB lifted its stake in shares of Rambus by 101.7% in the third quarter. Nordea Investment Management AB now owns 139,430 shares of the semiconductor company’s stock valued at $14,669,000 after buying an additional 70,314 shares during the period. Baader Bank Aktiengesellschaft bought a new stake in shares of Rambus in the third quarter valued at about $1,149,000. Mirae Asset Global Investments Co. Ltd. grew its position in Rambus by 1,320.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 129,676 shares of the semiconductor company’s stock worth $13,512,000 after buying an additional 120,549 shares in the last quarter. Finally, CloudAlpha Capital Management Limited Hong Kong bought a new position in Rambus during the third quarter valued at about $17,276,000. Institutional investors and hedge funds own 88.54% of the company’s stock.

Insider Activity

In related news, CFO Desmond Lynch sold 4,273 shares of Rambus stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $101.53, for a total transaction of $433,837.69. Following the completion of the transaction, the chief financial officer directly owned 63,618 shares of the company’s stock, valued at $6,459,135.54. This trade represents a 6.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is owned by company insiders.

Rambus Price Performance

Shares of RMBS stock opened at $99.66 on Friday. The stock’s fifty day simple moving average is $102.66 and its 200 day simple moving average is $96.53. The firm has a market cap of $10.74 billion, a price-to-earnings ratio of 47.23 and a beta of 1.53. Rambus, Inc. has a one year low of $40.12 and a one year high of $135.75.

Rambus (NASDAQ:RMBS) last released its quarterly earnings data on Monday, February 2nd. The semiconductor company reported $0.68 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.68. The firm had revenue of $190.24 million during the quarter, compared to analyst estimates of $188.21 million. Rambus had a return on equity of 17.69% and a net margin of 32.57%. On average, research analysts anticipate that Rambus, Inc. will post 1.89 earnings per share for the current year.

Wall Street Analysts Forecast Growth

RMBS has been the subject of a number of research reports. Susquehanna reduced their price objective on Rambus from $100.00 to $90.00 and set a “neutral” rating for the company in a research report on Tuesday, February 3rd. Zacks Research raised Rambus to a “hold” rating in a research report on Monday, January 26th. Cfra downgraded shares of Rambus from a “hold” rating to a “moderate sell” rating in a research note on Monday, December 15th. William Blair assumed coverage on shares of Rambus in a report on Thursday, January 22nd. They issued an “outperform” rating on the stock. Finally, Weiss Ratings raised shares of Rambus from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Rambus currently has an average rating of “Buy” and a consensus price target of $105.71.

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.