Weiss Asset Management LP Boosts Stock Position in Rambus, Inc. $RMBS

Weiss Asset Management LP increased its position in shares of Rambus, Inc. (NASDAQ:RMBS) by 73.8% during the 1st quarter, Holdings Channel.com reports. The fund owned 63,100 shares of the semiconductor company’s stock after acquiring an additional 26,800 shares during the period. Weiss Asset Management LP’s holdings in Rambus were worth $5,428,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RMBS. M&T Bank Corp lifted its holdings in Rambus by 2,372.0% during the 4th quarter. M&T Bank Corp now owns 122,636 shares of the semiconductor company’s stock worth $11,269,000 after buying an additional 117,675 shares in the last quarter. AMJ Financial Wealth Management raised its stake in shares of Rambus by 252.0% in the fourth quarter. AMJ Financial Wealth Management now owns 94,946 shares of the semiconductor company’s stock valued at $8,725,000 after acquiring an additional 67,973 shares in the last quarter. Novem Group purchased a new position in Rambus in the fourth quarter valued at $885,000. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in Rambus by 162.6% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 137,692 shares of the semiconductor company’s stock valued at $12,721,000 after purchasing an additional 85,257 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Rambus by 21.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 157,148 shares of the semiconductor company’s stock worth $14,440,000 after purchasing an additional 27,472 shares in the last quarter. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Rambus news, Director Necip Sayiner sold 5,000 shares of the business’s stock in a transaction that occurred 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 owned 18,223 shares in the company, valued at approximately $3,100,643.45. The trade was a 21.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Emiko Higashi sold 10,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $160.50, for a total value of $1,605,000.00. Following the transaction, 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. The disclosure for this sale is available in the SEC filing. Insiders have sold 62,914 shares of company stock worth $9,724,775 in the last three months. 0.75% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Evercore restated an “outperform” rating and set a $172.00 price target on shares of Rambus in a report on Tuesday, April 28th. Robert W. Baird downgraded Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price objective for the company. in a research report on Tuesday, April 28th. Weiss Ratings restated a “hold (c+)” rating on shares of Rambus in a research note on Friday, June 5th. Wells Fargo & Company raised their target price on shares of Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. Finally, Rosenblatt Securities lifted their price target on shares of Rambus from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $134.75.

Rambus Stock Performance

Shares of Rambus stock opened at $96.01 on Friday. The company has a market cap of $10.38 billion, a P/E ratio of 45.72 and a beta of 1.84. Rambus, Inc. has a one year low of $62.81 and a one year high of $174.10. The firm has a fifty day moving average of $128.78 and a two-hundred day moving average of $114.28.

Rambus (NASDAQ:RMBS) last issued its earnings results on Monday, April 27th. The semiconductor company reported $0.63 earnings per share for the quarter, beating 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 business had revenue of $180.19 million for the quarter, compared to the consensus estimate of $179.94 million. As a group, equities analysts predict that Rambus, Inc. will post 2.44 earnings per share for the current year.

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.