Erste Asset Management GmbH Purchases Shares of 50,000 Rambus, Inc. $RMBS

Erste Asset Management GmbH purchased a new position in shares of Rambus, Inc. (NASDAQ:RMBS) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 50,000 shares of the semiconductor company’s stock, valued at approximately $5,131,000.

Other hedge funds have also recently modified their holdings of the company. Steigerwald Gordon & Koch Inc. purchased a new position in Rambus during the 3rd quarter valued at about $25,000. True Wealth Design LLC lifted its position in Rambus by 162.5% during the second quarter. True Wealth Design LLC now owns 420 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 260 shares during the period. Abound Wealth Management bought a new stake in Rambus during the third quarter worth about $28,000. Bessemer Group Inc. boosted its position in shares of Rambus by 105.8% in the 2nd quarter. Bessemer Group Inc. now owns 463 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 238 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its stake in shares of Rambus by 1,386.0% in the second quarter. Hantz Financial Services Inc. now owns 639 shares of the semiconductor company’s stock worth $41,000 after acquiring an additional 596 shares during the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Stock Performance

Shares of RMBS stock opened at $99.66 on Friday. The stock has a fifty day simple moving average of $102.66 and a two-hundred day simple moving average of $96.67. The firm has a market capitalization of $10.74 billion, a PE ratio of 47.23 and a beta of 1.53. Rambus, Inc. has a 52-week low of $40.12 and a 52-week high of $135.75.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings data on Monday, February 2nd. The semiconductor company reported $0.68 EPS for the quarter, meeting the consensus estimate of $0.68. Rambus had a return on equity of 17.69% and a net margin of 32.57%.The business had revenue of $190.24 million for the quarter, compared to the consensus estimate of $188.21 million. On average, sell-side analysts forecast that Rambus, Inc. will post 1.89 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on RMBS shares. Susquehanna reduced their price target on shares of Rambus from $100.00 to $90.00 and set a “neutral” rating for the company in a research report on Tuesday, February 3rd. Rosenblatt Securities restated a “buy” rating and issued a $130.00 price target on shares of Rambus in a research note on Tuesday, February 3rd. Cfra lowered Rambus from a “hold” rating to a “moderate sell” rating in a report on Monday, December 15th. William Blair began coverage on Rambus in a research report on Thursday, January 22nd. They set an “outperform” rating for the company. Finally, Zacks Research upgraded shares of Rambus to a “hold” rating in a research note on Monday, January 26th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $105.71.

Insider Activity at Rambus

In related news, CFO Desmond Lynch sold 4,273 shares of the company’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $101.53, for a total transaction of $433,837.69. Following the completion of the transaction, the chief financial officer owned 63,618 shares in the company, valued at approximately $6,459,135.54. This represents a 6.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.00% of the company’s stock.

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.