Rambus, Inc. $RMBS Shares Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans increased its stake in shares of Rambus, Inc. (NASDAQ:RMBS) by 282.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,495 shares of the semiconductor company’s stock after acquiring an additional 69,776 shares during the quarter. Thrivent Financial for Lutherans owned about 0.09% of Rambus worth $8,683,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RMBS. Torren Management LLC purchased a new position in Rambus during the 4th quarter worth $26,000. Spire Wealth Management boosted its stake in shares of Rambus by 199.0% during the fourth quarter. Spire Wealth Management now owns 302 shares of the semiconductor company’s stock worth $28,000 after buying an additional 201 shares during the period. IFP Advisors Inc boosted its stake in shares of Rambus by 126.7% during the third quarter. IFP Advisors Inc now owns 442 shares of the semiconductor company’s stock worth $47,000 after buying an additional 247 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Rambus during the fourth quarter worth about $50,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Rambus by 83.3% during the second quarter. EverSource Wealth Advisors LLC now owns 777 shares of the semiconductor company’s stock worth $50,000 after buying an additional 353 shares during the period. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on RMBS shares. Wells Fargo & Company increased their target price 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. Susquehanna decreased their target price on shares of Rambus from $100.00 to $90.00 and set a “neutral” rating for the company in a research note on Tuesday, February 3rd. William Blair started coverage on shares of Rambus in a research note on Thursday, January 22nd. They set an “outperform” rating for the company. Rosenblatt Securities increased their target price 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. Finally, Evercore reiterated an “outperform” rating and set a $172.00 target price on shares of Rambus in a research note on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Rambus presently has a consensus rating of “Moderate Buy” and a consensus price target of $130.43.

Insider Buying and Selling

In related news, Director Meera Rao sold 2,972 shares of the business’s stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $150.30, for a total transaction of $446,691.60. Following the sale, the director owned 19,974 shares of the company’s stock, valued at approximately $3,002,092.20. The trade was a 12.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Desmond Lynch sold 4,273 shares of the business’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $101.53, for a total transaction of $433,837.69. Following the sale, the chief financial officer directly owned 63,618 shares in the company, valued at approximately $6,459,135.54. This represents a 6.29% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 61,123 shares of company stock valued at $6,295,577. Corporate insiders own 0.75% of the company’s stock.

Rambus Stock Down 1.4%

Shares of NASDAQ:RMBS opened at $122.03 on Wednesday. The company has a market cap of $13.20 billion, a price-to-earnings ratio of 58.11 and a beta of 1.79. The firm’s 50-day simple moving average is $110.02 and its 200-day simple moving average is $103.70. Rambus, Inc. has a fifty-two week low of $52.12 and a fifty-two week high of $161.80.

Rambus (NASDAQ:RMBS) last issued its earnings results on Monday, April 27th. The semiconductor company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.02. The business had revenue of $180.19 million for the quarter, compared to the consensus estimate of $179.94 million. Rambus had a net margin of 31.90% and a return on equity of 17.41%. On average, research analysts forecast 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.