New Age Alpha Advisors LLC Invests $2.63 Million in Rambus, Inc. $RMBS

New Age Alpha Advisors LLC bought a new position in shares of Rambus, Inc. (NASDAQ:RMBS) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 28,668 shares of the semiconductor company’s stock, valued at approximately $2,634,000.

A number of other hedge funds also recently made changes to their positions in RMBS. Alliancebernstein L.P. raised its stake in shares of Rambus by 572.7% during the 3rd quarter. Alliancebernstein L.P. now owns 1,822,030 shares of the semiconductor company’s stock worth $189,856,000 after purchasing an additional 1,551,159 shares during the period. Bank of America Corp DE raised its stake in shares of Rambus by 196.0% during the 3rd quarter. Bank of America Corp DE now owns 1,550,665 shares of the semiconductor company’s stock worth $161,579,000 after purchasing an additional 1,026,776 shares during the period. Rafferty Asset Management LLC bought a new stake in shares of Rambus during the 3rd quarter worth $93,962,000. Barclays PLC raised its stake in shares of Rambus by 183.1% during the 3rd quarter. Barclays PLC now owns 894,906 shares of the semiconductor company’s stock worth $93,249,000 after purchasing an additional 578,839 shares during the period. Finally, AQR Capital Management LLC raised its stake in shares of Rambus by 192.8% during the 2nd quarter. AQR Capital Management LLC now owns 701,746 shares of the semiconductor company’s stock worth $44,926,000 after purchasing an additional 462,116 shares during the period. 88.54% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Rambus

In other Rambus news, CEO Luc Seraphin sold 39,914 shares of Rambus stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $98.63, for a total transaction of $3,936,717.82. Following the completion of the transaction, the chief executive officer owned 331,070 shares of the company’s stock, valued at $32,653,434.10. The trade was a 10.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Xianzhi Sean Fan sold 37,914 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $151.69, for a total value of $5,751,174.66. Following the transaction, the executive vice president directly owned 168,358 shares of the company’s stock, valued at $25,538,225.02. The trade was a 18.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 94,764 shares of company stock valued at $11,612,914 in the last quarter. 0.75% of the stock is currently owned by corporate insiders.

Rambus Stock Up 10.0%

RMBS stock opened at $157.23 on Wednesday. The firm has a market capitalization of $17.00 billion, a PE ratio of 74.87 and a beta of 1.79. Rambus, Inc. has a twelve month low of $52.12 and a twelve month high of $161.80. The stock has a 50-day simple moving average of $115.30 and a two-hundred day simple moving average of $105.06.

Rambus (NASDAQ:RMBS) last posted its earnings results on Monday, April 27th. The semiconductor company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. The business had revenue of $180.19 million during the quarter, compared to analyst estimates of $179.94 million. Rambus had a return on equity of 17.41% and a net margin of 31.90%. On average, equities research analysts anticipate that Rambus, Inc. will post 2.44 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on RMBS. Weiss Ratings lowered Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, March 10th. Rosenblatt Securities lifted their price objective on Rambus from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Jefferies Financial Group lifted their price objective on Rambus from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Wells Fargo & Company lifted their price objective on Rambus from $115.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. Finally, Susquehanna decreased their price objective on Rambus from $100.00 to $90.00 and set a “neutral” rating for the company in a report on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Rambus presently has an average rating of “Moderate Buy” and an average price target of $130.43.

Rambus 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.