Fisher Asset Management LLC Purchases 364,396 Shares of Rambus, Inc. $RMBS

Fisher Asset Management LLC lifted its position in Rambus, Inc. (NASDAQ:RMBS) by 238.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 517,278 shares of the semiconductor company’s stock after purchasing an additional 364,396 shares during the quarter. Fisher Asset Management LLC’s holdings in Rambus were worth $47,533,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Hussman Strategic Advisors Inc. bought a new position in shares of Rambus in the third quarter worth $1,094,000. Baader Bank Aktiengesellschaft bought a new position in Rambus in the third quarter valued at $1,149,000. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in Rambus by 57.0% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 52,435 shares of the semiconductor company’s stock valued at $5,464,000 after acquiring an additional 19,046 shares during the last quarter. M&T Bank Corp increased its stake in Rambus by 2,372.0% in the fourth quarter. M&T Bank Corp now owns 122,636 shares of the semiconductor company’s stock valued at $11,269,000 after acquiring an additional 117,675 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Rambus by 1,320.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 129,676 shares of the semiconductor company’s stock valued at $13,512,000 after acquiring an additional 120,549 shares during the last quarter. Institutional investors own 88.54% of the company’s stock.

Rambus Trading Up 10.0%

Shares of NASDAQ:RMBS opened at $157.23 on Wednesday. The stock’s 50-day moving average price is $115.30 and its 200-day moving average price is $105.06. Rambus, Inc. has a 12-month low of $52.12 and a 12-month high of $161.80. The stock has a market capitalization of $17.00 billion, a P/E ratio of 74.87 and a beta of 1.79.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings data on Monday, April 27th. The semiconductor company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. Rambus had a return on equity of 17.41% and a net margin of 31.90%.The firm had revenue of $180.19 million for the quarter, compared to analysts’ expectations of $179.94 million. As a group, research analysts predict that Rambus, Inc. will post 2.44 EPS for the current year.

Wall Street Analysts Forecast Growth

RMBS has been the topic of a number of research analyst reports. Robert W. Baird cut Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 target price on the stock. in a research note on Tuesday, April 28th. Susquehanna reduced their target price on Rambus from $100.00 to $90.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 3rd. Weiss Ratings cut Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, March 10th. Rosenblatt Securities increased their target price on Rambus from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Finally, Wells Fargo & Company increased their target price on Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $130.43.

Insider Activity

In other news, CEO Luc Seraphin sold 39,914 shares of the firm’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $98.63, for a total transaction of $3,936,717.82. Following the transaction, the chief executive officer directly owned 331,070 shares of the company’s stock, valued at approximately $32,653,434.10. This trade represents a 10.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Meera Rao sold 8,538 shares of the firm’s stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $118.08, for a total value of $1,008,167.04. Following the transaction, the director directly owned 22,946 shares in the company, valued at $2,709,463.68. This trade represents a 27.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 94,764 shares of company stock valued at $11,612,914. 0.75% of the stock is currently owned by insiders.

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.