Diversify Advisory Services LLC Makes New Investment in Rambus, Inc. $RMBS

Diversify Advisory Services LLC bought a new stake in shares of Rambus, Inc. (NASDAQ:RMBS) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 29,957 shares of the semiconductor company’s stock, valued at approximately $2,888,000.

Several other hedge funds also recently bought and sold shares of the company. Acumen Wealth Advisors LLC purchased a new position in Rambus during the fourth quarter valued at $25,000. Torren Management LLC purchased a new stake in Rambus in the 4th quarter worth $26,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Rambus during the 2nd quarter valued at about $41,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Rambus during the 4th quarter valued at about $28,000. Finally, Persistent Asset Partners Ltd purchased a new position in shares of Rambus during the second quarter valued at about $49,000. Institutional investors own 88.54% of the company’s stock.

Rambus Trading Down 6.9%

NASDAQ:RMBS opened at $93.71 on Wednesday. The company has a market cap of $10.16 billion, a price-to-earnings ratio of 42.99 and a beta of 1.88. Rambus, Inc. has a twelve month low of $67.15 and a twelve month high of $174.10. The stock has a fifty day simple moving average of $111.17 and a 200-day simple moving average of $113.08.

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

Insider Buying and Selling

In other Rambus news, Director Emiko Higashi sold 10,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $160.50, for a total value of $1,605,000.00. Following the completion of the transaction, the director directly owned 49,519 shares in the company, valued at approximately $7,947,799.50. The trade was a 16.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Xianzhi Sean Fan sold 37,914 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $151.69, for a total transaction of $5,751,174.66. Following the transaction, the executive vice president owned 168,358 shares of the company’s stock, valued at approximately $25,538,225.02. This trade represents a 18.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 62,914 shares of company stock valued at $9,724,775. 0.75% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on RMBS shares. Jefferies Financial Group raised their target price on shares of Rambus from $120.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Wells Fargo & Company increased their price objective on shares of Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Glj Research set a $165.00 price objective on shares of Rambus in a research note on Tuesday, July 28th. Evercore restated an “outperform” rating and issued a $172.00 target price on shares of Rambus in a report on Tuesday, April 28th. Finally, Benchmark restated a “buy” rating on shares of Rambus in a report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $139.78.

Rambus 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.