Primecap Management Co. CA Purchases Shares of 47,500 Rambus, Inc. $RMBS

Primecap Management Co. CA purchased a new position in Rambus, Inc. (NASDAQ:RMBS) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 47,500 shares of the semiconductor company’s stock, valued at approximately $6,305,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Acumen Wealth Advisors LLC purchased a new position in shares of Rambus during the fourth quarter valued at about $25,000. Torren Management LLC purchased a new stake in shares of Rambus in the fourth quarter worth about $26,000. Danske Bank A S purchased a new stake in shares of Rambus in the second quarter worth about $27,000. University of Texas Texas AM Investment Management Co. bought a new position in Rambus during the fourth quarter valued at approximately $28,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Rambus during the second quarter valued at approximately $41,000. Institutional investors own 88.54% of the company’s stock.

Analyst Upgrades and Downgrades

RMBS has been the subject of several research analyst reports. Rosenblatt Securities restated a “buy” rating and set a $165.00 price target on shares of Rambus in a report on Tuesday, July 28th. Benchmark reiterated a “buy” rating on shares of Rambus in a research report on Tuesday, July 28th. Glj Research set a $165.00 target price on Rambus in a research report on Tuesday, July 28th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Rambus in a report on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $139.78.

Rambus Trading Up 0.2%

Shares of NASDAQ:RMBS opened at $90.03 on Thursday. The company has a market cap of $9.76 billion, a price-to-earnings ratio of 41.30 and a beta of 1.88. Rambus, Inc. has a 12 month low of $70.90 and a 12 month high of $174.10. The company has a 50-day moving average price of $105.30 and a 200 day moving average price of $112.34.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings data on Monday, July 27th. The semiconductor company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.05. Rambus had a return on equity of 17.89% and a net margin of 31.69%.The company had revenue of $207.39 million for the quarter, compared to analysts’ expectations of $199.30 million. During the same period in the previous year, the firm posted $0.53 earnings per share. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. As a group, equities analysts forecast that Rambus, Inc. will post 2.52 EPS for the current year.

Insider Transactions at Rambus

In related news, Director Eric B. Stang sold 5,000 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $146.00, for a total value of $730,000.00. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Necip Sayiner sold 5,000 shares of Rambus stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $170.15, for a total transaction of $850,750.00. Following the transaction, the director directly owned 18,223 shares of the company’s stock, valued at $3,100,643.45. The trade was a 21.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 20,000 shares of company stock worth $3,185,750. 0.75% of the stock is currently owned by company insiders.

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.