Van ECK Associates Corp Has $22.30 Million Stock Holdings in Rambus, Inc. $RMBS

Van ECK Associates Corp increased its holdings in shares of Rambus, Inc. (NASDAQ:RMBS) by 15.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 167,993 shares of the semiconductor company’s stock after purchasing an additional 22,742 shares during the period. Van ECK Associates Corp owned approximately 0.15% of Rambus worth $22,299,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Rambus in a report on Friday, June 5th. Glj Research set a $165.00 target price on shares of Rambus in a research note on Tuesday, July 28th. Benchmark reaffirmed a “buy” rating on shares of Rambus in a research note on Tuesday, July 28th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $165.00 target price on shares of Rambus in a report on Tuesday, July 28th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $145.88.

Insider Activity

In other news, Director Necip Sayiner sold 5,000 shares of the firm’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 completion of the transaction, the director owned 18,223 shares in the company, valued at $3,100,643.45. This trade represents a 21.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Emiko Higashi sold 10,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director owned 49,519 shares of the company’s stock, valued at $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. Insiders own 0.75% of the company’s stock.

Rambus Price Performance

Shares of RMBS stock opened at $85.76 on Monday. The company’s fifty day simple moving average is $103.19 and its 200-day simple moving average is $112.05. The firm has a market cap of $9.30 billion, a PE ratio of 39.34 and a beta of 1.88. Rambus, Inc. has a 12 month low of $70.90 and a 12 month high of $174.10.

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