Element Squared LLC Purchases Shares of 23,567 Rambus, Inc. $RMBS

Element Squared LLC acquired a new stake in shares of Rambus, Inc. (NASDAQ:RMBS) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 23,567 shares of the semiconductor company’s stock, valued at approximately $2,027,000.

Several other large investors have also modified their holdings of RMBS. Acumen Wealth Advisors LLC acquired a new stake in shares of Rambus in the fourth quarter worth approximately $25,000. Torren Management LLC acquired a new position in Rambus during the fourth quarter worth approximately $26,000. Spire Wealth Management increased its position in Rambus by 199.0% during the fourth quarter. Spire Wealth Management now owns 302 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 201 shares during the last quarter. University of Texas Texas AM Investment Management Co. acquired a new position in Rambus during the fourth quarter worth approximately $28,000. Finally, IFP Advisors Inc raised its stake in Rambus by 126.7% during the third quarter. IFP Advisors Inc now owns 442 shares of the semiconductor company’s stock worth $47,000 after purchasing an additional 247 shares during the period. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Rambus Stock Performance

NASDAQ RMBS opened at $132.74 on Wednesday. Rambus, Inc. has a one year low of $61.16 and a one year high of $174.10. The company’s 50 day moving average price is $136.74 and its 200 day moving average price is $112.86. The firm has a market capitalization of $14.35 billion, a price-to-earnings ratio of 63.21 and a beta of 1.84.

Rambus (NASDAQ:RMBS) last released its quarterly earnings data on Monday, April 27th. The semiconductor company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.02. Rambus had a net margin of 31.90% and a return on equity of 17.41%. The company had revenue of $180.19 million during the quarter, compared to the consensus estimate of $179.94 million. Sell-side analysts forecast that Rambus, Inc. will post 2.44 EPS for the current fiscal year.

Insider Buying and Selling at Rambus

In related news, CEO Luc Seraphin sold 5,426 shares of Rambus stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $86.65, for a total transaction of $470,162.90. Following the transaction, the chief executive officer owned 345,767 shares in the company, valued at approximately $29,960,710.55. The trade was a 1.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Emiko Higashi sold 10,000 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $160.50, for a total transaction of $1,605,000.00. Following the sale, the director directly owned 49,519 shares of the company’s stock, valued at approximately $7,947,799.50. This trade represents a 16.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 79,850 shares of company stock worth $11,649,796. Corporate insiders own 0.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on RMBS shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rambus in a report on Friday, June 5th. Wells Fargo & Company upped their price objective on Rambus from $115.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. Robert W. Baird lowered Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 target price on the stock. in a research report on Tuesday, April 28th. Rosenblatt Securities lifted their target price on Rambus from $130.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Finally, Jefferies Financial Group boosted their price target on Rambus from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $130.43.

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.