Rambus, Inc. $RMBS Shares Bought by Assetmark Inc.

Assetmark Inc. raised its stake in Rambus, Inc. (NASDAQ:RMBS) by 33.2% during the 1st quarter, HoldingsChannel reports. The firm owned 147,554 shares of the semiconductor company’s stock after acquiring an additional 36,800 shares during the period. Assetmark Inc.’s holdings in Rambus were worth $12,694,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Invesco Ltd. raised its stake in shares of Rambus by 70.6% during the fourth quarter. Invesco Ltd. now owns 4,148,653 shares of the semiconductor company’s stock worth $381,220,000 after purchasing an additional 1,716,621 shares during the last quarter. Norges Bank purchased a new position in Rambus in the 4th quarter valued at $156,356,000. Bank of America Corp DE grew its position in Rambus by 196.0% in the 3rd quarter. Bank of America Corp DE now owns 1,550,665 shares of the semiconductor company’s stock valued at $161,579,000 after buying an additional 1,026,776 shares during the last quarter. Bessemer Group Inc. increased its stake in Rambus by 1,009.5% in the 1st quarter. Bessemer Group Inc. now owns 1,039,905 shares of the semiconductor company’s stock valued at $89,463,000 after buying an additional 946,177 shares during the period. Finally, AQR Capital Management LLC increased its stake in Rambus by 192.8% in the 2nd quarter. AQR Capital Management LLC now owns 701,746 shares of the semiconductor company’s stock valued at $44,926,000 after buying an additional 462,116 shares during the period. Institutional investors and hedge funds own 88.54% of the company’s stock.

Insider Activity at Rambus

In other news, Director Meera Rao sold 2,972 shares of Rambus stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $150.30, for a total transaction of $446,691.60. Following the completion of the sale, the director directly owned 19,974 shares in the company, valued at approximately $3,002,092.20. This trade represents a 12.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 value of $5,751,174.66. Following the sale, the executive vice president directly owned 168,358 shares in the company, valued at $25,538,225.02. This trade represents a 18.38% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 65,886 shares of company stock worth $10,171,466. 0.75% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

RMBS has been the subject of several recent analyst reports. Jefferies Financial Group raised their target price 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. Rosenblatt Securities boosted their price target 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. Wells Fargo & Company increased their price target on shares of Rambus from $115.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. Benchmark started coverage on shares of Rambus in a research report on Wednesday. They issued a “buy” rating and a $165.00 price objective for the company. Finally, Evercore reaffirmed an “outperform” rating and issued a $172.00 price objective on shares of Rambus in a report on Tuesday, April 28th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $134.75.

Rambus Stock Performance

Rambus stock opened at $101.44 on Monday. The company has a market cap of $10.97 billion, a P/E ratio of 48.30 and a beta of 1.84. Rambus, Inc. has a one year low of $62.81 and a one year high of $174.10. The business has a fifty day moving average of $131.72 and a two-hundred day moving average of $114.16.

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