Meiji Yasuda Asset Management Co Ltd. Makes New $5.14 Million Investment in Rambus, Inc. $RMBS

Meiji Yasuda Asset Management Co Ltd. bought a new position in shares of Rambus, Inc. (NASDAQ:RMBS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 38,759 shares of the semiconductor company’s stock, valued at approximately $5,145,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. NewEdge Advisors LLC raised its position in Rambus by 22,321.4% during the 1st quarter. NewEdge Advisors LLC now owns 9,417 shares of the semiconductor company’s stock valued at $488,000 after purchasing an additional 9,375 shares in the last quarter. Empowered Funds LLC grew its position in shares of Rambus by 34.1% during the 1st quarter. Empowered Funds LLC now owns 22,750 shares of the semiconductor company’s stock worth $1,178,000 after buying an additional 5,783 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Rambus by 6.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 309,512 shares of the semiconductor company’s stock valued at $16,025,000 after buying an additional 19,120 shares during the period. Acadian Asset Management LLC purchased a new position in shares of Rambus during the first quarter valued at $218,000. Finally, Quantbot Technologies LP purchased a new position in shares of Rambus during the second quarter valued at $102,000. Institutional investors own 88.54% of the company’s stock.

Rambus Stock Performance

Shares of Rambus stock opened at $91.24 on Monday. The company has a market capitalization of $9.90 billion, a PE ratio of 41.85 and a beta of 1.88. The company has a 50-day simple moving average of $108.07 and a two-hundred day simple moving average of $112.56. Rambus, Inc. has a one year low of $70.45 and a one year high of $174.10.

Rambus (NASDAQ:RMBS) last released its quarterly earnings results on Monday, July 27th. The semiconductor company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.05. Rambus had a net margin of 31.69% and a return on equity of 17.89%. The business had revenue of $207.39 million for the quarter, compared to analysts’ expectations of $199.30 million. During the same period last year, the business earned $0.53 EPS. The company’s revenue was up 20.4% compared to the same quarter last year. On average, equities analysts predict that Rambus, Inc. will post 2.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Benchmark reaffirmed a “buy” rating on shares of Rambus in a research note on Tuesday, July 28th. Glj Research set a $165.00 target price on shares of Rambus in a research report on Tuesday, July 28th. Rosenblatt Securities restated a “buy” rating and issued a $165.00 price target on shares of Rambus in a report on Tuesday, July 28th. Jefferies Financial Group upped their price target on shares of Rambus from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Finally, Robert W. Baird downgraded shares of Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price objective on the stock. in a research note on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Rambus currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.78.

Insider Activity

In other Rambus news, EVP Xianzhi Sean Fan sold 37,914 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $151.69, for a total value of $5,751,174.66. Following the completion of the sale, the executive vice president directly owned 168,358 shares in the company, valued at $25,538,225.02. This trade represents a 18.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Necip Sayiner sold 5,000 shares of Rambus stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $170.15, for a total transaction of $850,750.00. Following the completion of the transaction, the director directly owned 18,223 shares in the company, valued at $3,100,643.45. This represents a 21.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 62,914 shares of company stock valued at $9,724,775 in the last ninety days. 0.75% of the stock is currently owned by insiders.

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.