6,567 Shares in Rambus, Inc. $RMBS Bought by Sanctuary Advisors LLC

Sanctuary Advisors LLC purchased a new stake in Rambus, Inc. (NASDAQ:RMBS) in the 2nd quarter, HoldingsChannel reports. The fund purchased 6,567 shares of the semiconductor company’s stock, valued at approximately $872,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in shares of Rambus during the second quarter worth about $1,853,645,000. Invesco Ltd. grew its stake in shares of Rambus by 70.6% in the fourth quarter. Invesco Ltd. now owns 4,148,653 shares of the semiconductor company’s stock valued at $381,220,000 after buying an additional 1,716,621 shares in the last quarter. Norges Bank acquired a new stake in shares of Rambus in the fourth quarter valued at about $156,356,000. Bank of America Corp DE lifted its position in Rambus by 196.0% during the 3rd 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 in the last quarter. Finally, Bessemer Group Inc. lifted its position in Rambus by 1,009.5% during the 1st quarter. Bessemer Group Inc. now owns 1,039,905 shares of the semiconductor company’s stock worth $89,463,000 after acquiring an additional 946,177 shares in the last quarter. 88.54% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Necip Sayiner sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $170.15, for a total value of $850,750.00. Following the completion of the sale, the director directly owned 18,223 shares in the company, valued at approximately $3,100,643.45. The trade was a 21.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Emiko Higashi sold 10,000 shares of the company’s stock in a transaction that occurred on 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 sale, the director directly owned 49,519 shares in the company, valued at approximately $7,947,799.50. This represents a 16.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 20,000 shares of company stock worth $3,185,750. 0.75% of the stock is currently owned by insiders.

Rambus Stock Performance

NASDAQ:RMBS opened at $85.76 on Friday. The company has a market capitalization of $9.30 billion, a price-to-earnings ratio of 39.34 and a beta of 1.88. Rambus, Inc. has a one year low of $70.90 and a one year high of $174.10. The stock has a 50-day simple moving average of $103.19 and a 200 day simple moving average of $112.04.

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, beating the consensus estimate of $0.72 by $0.05. Rambus had a return on equity of 17.89% and a net margin of 31.69%.The firm had revenue of $207.39 million for the quarter, compared to analysts’ expectations of $199.30 million. During the same quarter in the prior year, the firm posted $0.53 earnings per share. Rambus’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, equities research analysts forecast that Rambus, Inc. will post 2.52 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.