E Fund Management Co. Ltd. Invests $1.54 Million in Rambus, Inc. $RMBS

E Fund Management Co. Ltd. purchased a new stake in Rambus, Inc. (NASDAQ:RMBS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 11,596 shares of the semiconductor company’s stock, valued at approximately $1,539,000.

A number of other large investors have also made changes to their positions in RMBS. Great Lakes Advisors LLC acquired a new stake in Rambus during the 2nd quarter worth $1,976,000. Danske Bank A S acquired a new position in Rambus in the second quarter valued at about $27,000. Diversify Advisory Services LLC acquired a new position in Rambus in the second quarter valued at about $2,888,000. Deepwater Asset Management LLC bought a new stake in shares of Rambus in the second quarter worth about $5,925,000. Finally, Meeder Advisory Services Inc. bought a new position in shares of Rambus during the 2nd quarter valued at about $471,000. Institutional investors own 88.54% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on RMBS shares. Wells Fargo & Company boosted their price objective on Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Robert W. Baird downgraded shares of Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 target price on the stock. in a report on Tuesday, April 28th. Glj Research set a $165.00 price target on shares of Rambus in a report on Tuesday, July 28th. Evercore reiterated an “outperform” rating and issued a $172.00 price target on shares of Rambus in a report on Tuesday, April 28th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $165.00 price objective on shares of Rambus in a research report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $139.78.

Rambus Price Performance

RMBS stock opened at $90.85 on Thursday. The stock has a market capitalization of $9.85 billion, a P/E ratio of 41.67 and a beta of 1.88. The business has a 50-day moving average of $110.23 and a 200-day moving average of $112.87. Rambus, Inc. has a fifty-two week low of $67.15 and a fifty-two week high of $174.10.

Rambus (NASDAQ:RMBS) last announced its earnings results on Monday, July 27th. The semiconductor company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.05. The business had revenue of $207.39 million for the quarter, compared to analyst estimates of $199.30 million. Rambus had a return on equity of 17.89% and a net margin of 31.69%.Rambus’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.53 EPS. Equities analysts expect that Rambus, Inc. will post 2.52 EPS for the current year.

Insider Buying and Selling at Rambus

In other 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 value of $730,000.00. Following the sale, the director directly owned 19,218 shares in the company, valued at $2,805,828. This trade represents a 20.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Xianzhi Sean Fan sold 37,914 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $151.69, for a total transaction of $5,751,174.66. Following the transaction, the executive vice president owned 168,358 shares of the company’s stock, valued at $25,538,225.02. The trade was a 18.38% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 62,914 shares of company stock valued at $9,724,775 over the last quarter. Insiders own 0.75% of the company’s stock.

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.