34,819 Shares in Rambus, Inc. $RMBS Bought by Rice Hall James & Associates LLC

Rice Hall James & Associates LLC bought a new stake in shares of Rambus, Inc. (NASDAQ:RMBS) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 34,819 shares of the semiconductor company’s stock, valued at approximately $4,622,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Acumen Wealth Advisors LLC acquired a new stake in Rambus in the 4th quarter worth $25,000. Torren Management LLC acquired a new position in shares of Rambus during the fourth quarter valued at about $26,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Rambus in the fourth quarter valued at about $28,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Rambus in the second quarter valued at about $41,000. Finally, Western Wealth Management LLC bought a new stake in shares of Rambus in the first quarter valued at about $44,000. 88.54% of the stock is owned by institutional investors.

Insider Buying and Selling at Rambus

In other news, Director Emiko Higashi sold 10,000 shares of the company’s 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 sale, the director directly owned 49,519 shares in the company, valued at approximately $7,947,799.50. This represents a 16.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Eric B. Stang sold 5,000 shares of the stock in a transaction that occurred 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 transaction, the director directly owned 19,218 shares of the company’s stock, valued at approximately $2,805,828. The trade was a 20.65% 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 Analyst Weigh In

Several brokerages recently issued reports on RMBS. 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 note on Tuesday, April 28th. Evercore reiterated an “outperform” rating and issued a $172.00 price objective on shares of Rambus in a research report on Tuesday, April 28th. Rosenblatt Securities reissued a “buy” rating and set a $165.00 price objective on shares of Rambus in a report on Tuesday, July 28th. Glj Research set a $165.00 price objective on Rambus in a report on Tuesday, July 28th. Finally, Wells Fargo & Company boosted their price objective on Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. One equities research 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. According to data from MarketBeat.com, Rambus currently has a consensus rating of “Moderate Buy” and an average price target of $139.78.

Rambus Stock Performance

NASDAQ:RMBS opened at $100.61 on Tuesday. The company has a 50-day moving average of $112.23 and a 200-day moving average of $113.30. The company has a market capitalization of $10.91 billion, a price-to-earnings ratio of 46.15 and a beta of 1.88. Rambus, Inc. has a 52 week low of $67.15 and a 52 week high of $174.10.

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