Evolve Private Wealth LLC Makes New Investment in Rambus, Inc. $RMBS

Evolve Private Wealth LLC purchased a new stake in Rambus, Inc. (NASDAQ:RMBS) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,310 shares of the semiconductor company’s stock, valued at approximately $970,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Danske Bank A S acquired a new position in shares of Rambus in the 2nd quarter worth $27,000. Acumen Wealth Advisors LLC purchased a new stake in shares of Rambus during the fourth quarter valued at $25,000. Torren Management LLC purchased a new stake in shares of Rambus during the fourth quarter valued at $26,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Rambus in the 2nd quarter valued at $41,000. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in shares of Rambus in the 4th quarter valued at $28,000. Institutional investors and hedge funds own 88.54% of the company’s stock.

Rambus Stock Performance

Shares of NASDAQ:RMBS opened at $91.24 on Monday. Rambus, Inc. has a 1 year low of $70.45 and a 1 year high of $174.10. The business has a fifty day simple moving average of $108.07 and a 200 day simple moving average of $112.56. The firm has a market cap of $9.90 billion, a price-to-earnings ratio of 41.85 and a beta of 1.88.

Rambus (NASDAQ:RMBS) last issued its earnings results on Monday, July 27th. The semiconductor company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $199.30 million. During the same quarter in the previous year, the company posted $0.53 earnings per share. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. On average, sell-side analysts forecast that Rambus, Inc. will post 2.52 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on RMBS. Rosenblatt Securities restated a “buy” rating and set a $165.00 price target on shares of Rambus in a report on Tuesday, July 28th. Glj Research set a $165.00 price target on Rambus in a report on Tuesday, July 28th. Benchmark reissued a “buy” rating on shares of Rambus in a research note on Tuesday, July 28th. Wells Fargo & Company raised their price objective on Rambus from $115.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Finally, Robert W. Baird downgraded 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. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.78.

Insider Buying and Selling at Rambus

In other news, Director Emiko Higashi sold 10,000 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $160.50, for a total transaction of $1,605,000.00. Following the transaction, the director owned 49,519 shares in the company, valued at $7,947,799.50. This represents a 16.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Necip Sayiner sold 5,000 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $170.15, for a total transaction of $850,750.00. Following the transaction, the director owned 18,223 shares in the company, valued at $3,100,643.45. This represents a 21.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 62,914 shares of company stock worth $9,724,775 in the last ninety days. Insiders own 0.75% of the company’s stock.

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.