Fisher Asset Management LLC Buys Shares of 152,882 Rambus, Inc. $RMBS

Fisher Asset Management LLC bought a new stake in shares of Rambus, Inc. (NASDAQ:RMBS) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 152,882 shares of the semiconductor company’s stock, valued at approximately $15,930,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Farther Finance Advisors LLC boosted its holdings in Rambus by 19.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,045 shares of the semiconductor company’s stock valued at $109,000 after acquiring an additional 167 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Rambus by 2.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 9,363 shares of the semiconductor company’s stock valued at $907,000 after purchasing an additional 187 shares during the period. Campbell Newman Asset Management Inc. grew its holdings in shares of Rambus by 0.5% in the third quarter. Campbell Newman Asset Management Inc. now owns 41,851 shares of the semiconductor company’s stock worth $4,361,000 after purchasing an additional 188 shares during the last quarter. KLP Kapitalforvaltning AS grew its holdings in shares of Rambus by 0.9% in the third quarter. KLP Kapitalforvaltning AS now owns 22,400 shares of the semiconductor company’s stock worth $2,334,000 after purchasing an additional 200 shares during the last quarter. Finally, Norden Group LLC increased its stake in Rambus by 2.8% in the 3rd quarter. Norden Group LLC now owns 7,655 shares of the semiconductor company’s stock worth $798,000 after buying an additional 208 shares during the period. 88.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RMBS. Susquehanna lowered their price objective on shares of Rambus from $100.00 to $90.00 and set a “neutral” rating for the company in a research report on Tuesday, February 3rd. Weiss Ratings raised Rambus from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Zacks Research upgraded Rambus to a “hold” rating in a report on Monday, January 26th. Cfra cut Rambus from a “hold” rating to a “moderate sell” rating in a report on Monday, December 15th. Finally, William Blair initiated coverage on Rambus in a research report on Thursday, January 22nd. They set an “outperform” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Rambus presently has a consensus rating of “Buy” and an average target price of $105.71.

Rambus Stock Up 5.1%

Shares of NASDAQ:RMBS opened at $92.04 on Thursday. The firm has a 50 day moving average of $102.56 and a 200 day moving average of $97.03. The company has a market capitalization of $9.92 billion, a price-to-earnings ratio of 43.62 and a beta of 1.55. Rambus, Inc. has a 52 week low of $40.12 and a 52 week high of $135.75.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings results on Monday, February 2nd. The semiconductor company reported $0.68 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.68. The business had revenue of $190.24 million for the quarter, compared to the consensus estimate of $188.21 million. Rambus had a return on equity of 17.69% and a net margin of 32.57%. On average, sell-side analysts expect that Rambus, Inc. will post 1.89 EPS for the current year.

Insider Transactions at Rambus

In other news, CEO Luc Seraphin sold 39,914 shares of Rambus stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $98.63, for a total value of $3,936,717.82. Following the transaction, the chief executive officer owned 331,070 shares of the company’s stock, valued at $32,653,434.10. The trade was a 10.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Desmond Lynch sold 4,273 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $101.53, for a total transaction of $433,837.69. Following the transaction, the chief financial officer owned 63,618 shares of the company’s stock, valued at approximately $6,459,135.54. This trade represents a 6.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.00% of the company’s stock.

About Rambus

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.