Great Lakes Advisors LLC Invests $1.98 Million in Rambus, Inc. $RMBS

Great Lakes Advisors LLC bought a new position in Rambus, Inc. (NASDAQ:RMBS) during the 2nd quarter, Holdings Channel reports. The fund bought 14,884 shares of the semiconductor company’s stock, valued at approximately $1,976,000.

A number of other hedge funds also recently bought and sold shares of RMBS. Acumen Wealth Advisors LLC purchased a new position in shares of Rambus during the fourth quarter valued at approximately $25,000. Torren Management LLC bought a new position in shares of Rambus during the fourth quarter valued at approximately $26,000. Danske Bank A S purchased a new stake in Rambus in the second quarter worth $27,000. University of Texas Texas AM Investment Management Co. bought a new stake in Rambus in the fourth quarter valued at $28,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Rambus in the second quarter valued at $41,000. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RMBS. Robert W. Baird downgraded shares of Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price objective on the stock. in a research report on Tuesday, April 28th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $165.00 target price on shares of Rambus in a research report on Tuesday, July 28th. Evercore reaffirmed an “outperform” rating and set a $172.00 target price on shares of Rambus in a research note on Tuesday, April 28th. Glj Research set a $165.00 price target on shares of Rambus in a research report on Tuesday, July 28th. Finally, 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 research note on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $139.78.

Rambus Stock Performance

RMBS stock opened at $91.24 on Friday. The firm has a 50 day moving average price of $108.07 and a 200-day moving average price of $112.56. Rambus, Inc. has a 52-week low of $70.45 and a 52-week high of $174.10. The firm has a market capitalization of $9.90 billion, a price-to-earnings ratio of 41.85 and a beta of 1.88.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings results on Monday, July 27th. The semiconductor company reported $0.77 earnings per share for the quarter, topping 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 company had revenue of $207.39 million for the quarter, compared to the consensus estimate of $199.30 million. During the same quarter in the prior year, the business posted $0.53 EPS. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Rambus, Inc. will post 2.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Eric B. Stang sold 5,000 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $146.00, for a total transaction of $730,000.00. Following the completion of the transaction, the director directly owned 19,218 shares in the company, valued at $2,805,828. This trade represents a 20.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Emiko Higashi sold 10,000 shares of Rambus stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $160.50, for a total value of $1,605,000.00. Following the completion of the transaction, the director directly owned 49,519 shares of the company’s stock, valued at approximately $7,947,799.50. This represents a 16.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 62,914 shares of company stock valued at $9,724,775. 0.75% of the stock is 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.