Keebeck Wealth Management Purchases Shares of 6,214 Rambus, Inc. $RMBS

Keebeck Wealth Management purchased a new stake in Rambus, Inc. (NASDAQ:RMBS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 6,214 shares of the semiconductor company’s stock, valued at approximately $825,000.

Several other large investors have also modified their holdings of RMBS. M&T Bank Corp increased its stake in shares of Rambus by 2,372.0% in the fourth quarter. M&T Bank Corp now owns 122,636 shares of the semiconductor company’s stock worth $11,269,000 after purchasing an additional 117,675 shares during the period. AMJ Financial Wealth Management boosted its stake in Rambus by 252.0% during the 4th quarter. AMJ Financial Wealth Management now owns 94,946 shares of the semiconductor company’s stock valued at $8,725,000 after purchasing an additional 67,973 shares during the period. State of Wyoming acquired a new stake in Rambus in the 2nd quarter valued at approximately $1,825,000. Universal Beteiligungs und Servicegesellschaft mbH increased its position in Rambus by 162.6% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 137,692 shares of the semiconductor company’s stock worth $12,721,000 after buying an additional 85,257 shares during the period. Finally, Handelsbanken Fonder AB lifted its holdings in shares of Rambus by 28.1% during the second quarter. Handelsbanken Fonder AB now owns 150,857 shares of the semiconductor company’s stock worth $20,025,000 after buying an additional 33,060 shares during the last quarter. 88.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

RMBS has been the topic of several research analyst reports. Jefferies Financial Group raised 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. Benchmark restated a “buy” rating on shares of Rambus in a research report on Tuesday, July 28th. Rosenblatt Securities reiterated a “buy” rating and issued a $165.00 target price on shares of Rambus in a research note on Tuesday, July 28th. Evercore reissued an “outperform” rating and set a $172.00 target price on shares of Rambus in a research report on Tuesday, April 28th. Finally, Robert W. Baird lowered Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price target on the stock. in a research note on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Rambus currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.78.

Rambus Stock Performance

Shares of Rambus stock opened at $91.24 on Friday. The firm’s 50-day simple moving average is $108.07 and its 200-day simple moving average is $112.56. Rambus, Inc. has a twelve month low of $70.45 and a twelve month high of $174.10. The firm has a market cap of $9.90 billion, a P/E 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 (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.05. The firm had revenue of $207.39 million during the quarter, compared to analyst estimates of $199.30 million. Rambus had a net margin of 31.69% and a return on equity of 17.89%. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.53 earnings per share. On average, equities analysts forecast that Rambus, Inc. will post 2.52 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Xianzhi Sean Fan sold 37,914 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $151.69, for a total transaction of $5,751,174.66. Following the completion of the sale, the executive vice president directly owned 168,358 shares of the company’s stock, valued at $25,538,225.02. This trade represents a 18.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Emiko Higashi sold 10,000 shares of Rambus stock in a transaction 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 completion of the transaction, the director owned 49,519 shares of the company’s stock, valued at approximately $7,947,799.50. The trade was a 16.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 62,914 shares of company stock valued at $9,724,775 over the last three months. 0.75% of the stock is owned by corporate 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.