Maple Rock Capital Partners Inc. Acquires Shares of 342,600 Rambus, Inc. $RMBS

Maple Rock Capital Partners Inc. bought a new stake in shares of Rambus, Inc. (NASDAQ:RMBS) during the second quarter, HoldingsChannel.com reports. The fund bought 342,600 shares of the semiconductor company’s stock, valued at approximately $45,477,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in RMBS. AMJ Financial Wealth Management lifted its stake in shares of Rambus by 252.0% during the 4th quarter. AMJ Financial Wealth Management now owns 94,946 shares of the semiconductor company’s stock worth $8,725,000 after purchasing an additional 67,973 shares during the last quarter. State of Wyoming acquired a new stake in Rambus during the 2nd quarter worth about $1,825,000. Handelsbanken Fonder AB increased its holdings in shares of Rambus by 28.1% during the 2nd quarter. Handelsbanken Fonder AB now owns 150,857 shares of the semiconductor company’s stock valued at $20,025,000 after purchasing an additional 33,060 shares in the last quarter. BlackRock Inc. purchased a new position in shares of Rambus in the 2nd quarter valued at about $1,853,645,000. Finally, California Public Employees Retirement System lifted its holdings in Rambus by 15.8% during the first quarter. California Public Employees Retirement System now owns 227,271 shares of the semiconductor company’s stock valued at $19,552,000 after purchasing an additional 31,064 shares in the last quarter. 88.54% of the stock is currently owned by institutional investors.

Rambus Trading Up 1.1%

Shares of RMBS opened at $86.69 on Tuesday. The firm’s 50-day moving average is $102.11 and its two-hundred day moving average is $111.91. Rambus, Inc. has a twelve month low of $70.90 and a twelve month high of $174.10. The firm has a market capitalization of $9.40 billion, a P/E ratio of 39.77 and a beta of 1.88.

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

Analyst Ratings Changes

Several research firms have recently weighed in on RMBS. Weiss Ratings reissued a “hold (c+)” rating on shares of Rambus in a research note on Friday, June 5th. Benchmark reissued a “buy” rating on shares of Rambus in a research report on Tuesday, July 28th. Rosenblatt Securities reissued a “buy” rating and issued a $165.00 target price on shares of Rambus in a report on Tuesday, July 28th. Finally, Glj Research set a $165.00 target price on Rambus in a research report on Tuesday, July 28th. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.88.

Insider Buying and Selling

In related news, Director Necip Sayiner sold 5,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $3,100,643.45. This represents a 21.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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.