Axiom Investors LLC DE Buys Shares of 163,242 Rambus, Inc. $RMBS

Axiom Investors LLC DE bought a new stake in Rambus, Inc. (NASDAQ:RMBS) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 163,242 shares of the semiconductor company’s stock, valued at approximately $15,000,000. Axiom Investors LLC DE owned approximately 0.15% of Rambus as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Norges Bank bought a new position in shares of Rambus during the fourth quarter worth about $156,356,000. Alliancebernstein L.P. raised its stake in Rambus by 572.7% during the third quarter. Alliancebernstein L.P. now owns 1,822,030 shares of the semiconductor company’s stock worth $189,856,000 after acquiring an additional 1,551,159 shares during the period. Bank of America Corp DE raised its stake in Rambus by 196.0% during the third quarter. Bank of America Corp DE now owns 1,550,665 shares of the semiconductor company’s stock worth $161,579,000 after acquiring an additional 1,026,776 shares during the period. Rafferty Asset Management LLC acquired a new stake in Rambus during the third quarter worth about $93,962,000. Finally, Barclays PLC raised its stake in Rambus by 183.1% during the third quarter. Barclays PLC now owns 894,906 shares of the semiconductor company’s stock worth $93,249,000 after acquiring an additional 578,839 shares during the period. 88.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RMBS has been the topic of several research reports. Jefferies Financial Group increased their price objective on shares of Rambus from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rambus in a research note on Friday. Wells Fargo & Company increased their price objective on shares of Rambus from $115.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Robert W. Baird lowered shares of Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price objective on the stock. in a research note on Tuesday, April 28th. Finally, Rosenblatt Securities increased their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $130.43.

Rambus Price Performance

NASDAQ RMBS opened at $146.84 on Wednesday. Rambus, Inc. has a 12 month low of $57.98 and a 12 month high of $174.10. The firm has a market capitalization of $15.88 billion, a PE ratio of 69.92 and a beta of 1.84. The company’s 50 day simple moving average is $127.54 and its 200 day simple moving average is $108.95.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings results on Monday, April 27th. The semiconductor company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.02. The firm had revenue of $180.19 million for the quarter, compared to analyst estimates of $179.94 million. Rambus had a net margin of 31.90% and a return on equity of 17.41%. Sell-side analysts anticipate that Rambus, Inc. will post 2.44 earnings per share for the current fiscal year.

Insider Transactions at Rambus

In other Rambus news, Director Meera Rao sold 8,538 shares of Rambus stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $118.08, for a total transaction of $1,008,167.04. Following the completion of the sale, the director owned 22,946 shares of the company’s stock, valued at $2,709,463.68. This trade represents a 27.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Necip Sayiner sold 5,000 shares of Rambus stock in a transaction 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 sale, the director directly owned 18,223 shares of the company’s stock, valued at $3,100,643.45. This trade represents a 21.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 79,850 shares of company stock worth $11,649,796. 0.75% of the stock is currently owned by insiders.

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.