Jefferies Financial Group Inc. Invests $1.19 Million in Rambus, Inc. $RMBS

Jefferies Financial Group Inc. purchased a new position in shares of Rambus, Inc. (NASDAQ:RMBS) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 8,974 shares of the semiconductor company’s stock, valued at approximately $1,191,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Acumen Wealth Advisors LLC purchased a new position in Rambus during the 4th quarter worth $25,000. Danske Bank A S purchased a new stake in shares of Rambus in the second quarter valued at about $27,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Rambus in the fourth quarter valued at about $28,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Rambus during the second quarter worth about $41,000. Finally, Western Wealth Management LLC purchased a new position in Rambus during the first quarter worth about $44,000. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Rambus Price Performance

Shares of NASDAQ RMBS opened at $85.76 on Monday. The stock’s 50 day moving average price is $103.19 and its two-hundred day moving average price is $112.05. Rambus, Inc. has a 52-week low of $70.90 and a 52-week high of $174.10. The stock has a market capitalization of $9.30 billion, a P/E ratio of 39.34 and a beta of 1.88.

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

Insider Buying and Selling

In other news, Director Necip Sayiner sold 5,000 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $170.15, for a total value of $850,750.00. Following the transaction, the director owned 18,223 shares in the company, valued at $3,100,643.45. This represents a 21.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 sale, the director directly 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 disclosure for this sale is available in the SEC filing. 0.75% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Rambus in a research report on Friday, June 5th. Benchmark reiterated a “buy” rating on shares of Rambus in a report on Tuesday, July 28th. Glj Research set a $165.00 target price on Rambus in a research note on Tuesday, July 28th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $165.00 price target on shares of Rambus in a report on Tuesday, July 28th. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Rambus presently has an average rating of “Moderate Buy” and a consensus price target of $145.88.

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.