Nissay Asset Management Corp Japan Acquires 11,275 Shares of Rambus, Inc. $RMBS

Nissay Asset Management Corp Japan grew its holdings in Rambus, Inc. (NASDAQ:RMBS) by 42.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,649 shares of the semiconductor company’s stock after purchasing an additional 11,275 shares during the period. Nissay Asset Management Corp Japan’s holdings in Rambus were worth $4,998,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in RMBS. Danske Bank A S purchased a new stake in shares of Rambus during the second quarter valued at $27,000. Acumen Wealth Advisors LLC purchased a new position in Rambus in the 4th quarter worth about $25,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Rambus in the 2nd quarter worth about $41,000. University of Texas Texas AM Investment Management Co. bought a new stake in Rambus during the 4th quarter valued at about $28,000. Finally, PenderFund Capital Management Ltd. bought a new stake in Rambus during the 2nd quarter valued at about $46,000. 88.54% of the stock is currently owned by institutional investors.

Rambus Stock Performance

Shares of Rambus stock opened at $85.76 on Monday. The stock’s fifty day moving average price is $103.19 and its 200-day moving average price is $112.05. The firm has a market cap of $9.30 billion, a P/E ratio of 39.34 and a beta of 1.88. Rambus, Inc. has a 12 month low of $70.90 and a 12 month high of $174.10.

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on RMBS. Benchmark restated a “buy” rating on shares of Rambus in a research note on Tuesday, July 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rambus in a research note on Friday, June 5th. Glj Research set a $165.00 price target on Rambus in a report on Tuesday, July 28th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $165.00 price target on shares of Rambus in a report on Tuesday, July 28th. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Rambus has a consensus rating of “Moderate Buy” and an average price target of $145.88.

Insider Activity

In other news, Director Emiko Higashi sold 10,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $160.50, for a total transaction of $1,605,000.00. Following the transaction, the director directly owned 49,519 shares in the company, valued at approximately $7,947,799.50. This trade represents a 16.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Necip Sayiner sold 5,000 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were 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. This represents a 21.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.75% of the company’s stock.

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.