Independent Financial Group LLC Acquires New Shares in Rambus, Inc. $RMBS

Independent Financial Group LLC acquired a new position in shares of Rambus, Inc. (NASDAQ:RMBS) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,525 shares of the semiconductor company’s stock, valued at approximately $561,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its holdings in shares of Rambus by 2.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,385,570 shares of the semiconductor company’s stock worth $494,881,000 after acquiring an additional 140,226 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Rambus by 70.6% during the 4th quarter. Invesco Ltd. now owns 4,148,653 shares of the semiconductor company’s stock valued at $381,220,000 after purchasing an additional 1,716,621 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Rambus by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 2,842,715 shares of the semiconductor company’s stock valued at $261,256,000 after purchasing an additional 94,214 shares during the period. Norges Bank acquired a new position in shares of Rambus in the 4th quarter valued at approximately $156,356,000. Finally, Swedbank AB increased its stake in Rambus by 14.7% during the 1st quarter. Swedbank AB now owns 1,563,000 shares of the semiconductor company’s stock worth $134,465,000 after purchasing an additional 200,000 shares in the last quarter. 88.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RMBS. Robert W. Baird downgraded shares of Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 target price on the stock. in a report on Tuesday, April 28th. Evercore reiterated an “outperform” rating and issued a $172.00 price target on shares of Rambus in a report on Tuesday, April 28th. Benchmark initiated coverage on shares of Rambus in a research report on Wednesday, July 15th. They set a “buy” rating and a $165.00 price objective for the company. Rosenblatt Securities raised their price objective on shares of Rambus from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Finally, Wells Fargo & Company boosted their price objective on shares of Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $134.75.

Rambus Stock Performance

Shares of Rambus stock opened at $103.83 on Thursday. The business’s 50 day simple moving average is $129.94 and its 200 day simple moving average is $114.38. Rambus, Inc. has a 52-week low of $62.81 and a 52-week high of $174.10. The firm has a market cap of $11.23 billion, a PE ratio of 49.44 and a beta of 1.84.

Rambus (NASDAQ:RMBS) last released 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 firm had revenue of $180.19 million during the quarter, compared to the consensus estimate of $179.94 million. Rambus had a return on equity of 17.41% and a net margin of 31.90%. As a group, equities research analysts predict that Rambus, Inc. will post 2.44 EPS for the current year.

Insiders Place Their Bets

In related news, Director Eric B. Stang sold 5,000 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $146.00, for a total transaction of $730,000.00. Following the completion of the transaction, the director owned 19,218 shares in the company, valued at approximately $2,805,828. This represents a 20.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Emiko Higashi sold 10,000 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $160.50, for a total transaction 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 trade represents a 16.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 65,886 shares of company stock valued at $10,171,466 over the last 90 days. 0.75% of the stock is currently owned by company 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.