Future Fund LLC Takes Position in Rambus, Inc. $RMBS

Future Fund LLC purchased a new stake in shares of Rambus, Inc. (NASDAQ:RMBS) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 34,386 shares of the semiconductor company’s stock, valued at approximately $2,958,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Assetmark Inc. boosted its holdings in Rambus by 33.2% in the 1st quarter. Assetmark Inc. now owns 147,554 shares of the semiconductor company’s stock worth $12,694,000 after buying an additional 36,800 shares during the period. Bessemer Group Inc. raised its holdings in Rambus by 1,009.5% during the 1st quarter. Bessemer Group Inc. now owns 1,039,905 shares of the semiconductor company’s stock valued at $89,463,000 after acquiring an additional 946,177 shares during the period. Independent Financial Group LLC purchased a new stake in shares of Rambus during the first quarter worth $561,000. Illinois Municipal Retirement Fund lifted its position in shares of Rambus by 12.2% during the first quarter. Illinois Municipal Retirement Fund now owns 27,314 shares of the semiconductor company’s stock worth $2,350,000 after acquiring an additional 2,974 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in shares of Rambus by 22.6% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 9,346 shares of the semiconductor company’s stock worth $804,000 after acquiring an additional 1,721 shares in the last quarter. 88.54% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Necip Sayiner sold 5,000 shares of Rambus stock in a transaction dated 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 sale, the director owned 18,223 shares in the company, valued at approximately $3,100,643.45. This trade represents a 21.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Emiko Higashi sold 10,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $160.50, for a total value of $1,605,000.00. Following the transaction, the director directly 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 65,886 shares of company stock worth $10,171,466. 0.75% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

RMBS has been the subject of several recent research reports. Robert W. Baird cut Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price target for the company. in a research report on Tuesday, April 28th. Wells Fargo & Company increased 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. Jefferies Financial Group raised their target price on Rambus from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Benchmark began coverage on Rambus in a report on Wednesday. They set a “buy” rating and a $165.00 target price for the company. Finally, Evercore reaffirmed an “outperform” rating and set a $172.00 target price on shares of Rambus in a report on Tuesday, April 28th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $134.75.

Rambus Price Performance

RMBS opened at $101.44 on Friday. The firm has a market capitalization of $10.97 billion, a P/E ratio of 48.30 and a beta of 1.84. Rambus, Inc. has a one year low of $62.81 and a one year high of $174.10. The company has a fifty day moving average price of $131.72 and a 200-day moving average price of $114.01.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings data on Monday, April 27th. The semiconductor company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. The company had revenue of $180.19 million for the quarter, compared to the consensus estimate of $179.94 million. Rambus had a return on equity of 17.41% and a net margin of 31.90%. On average, analysts expect that Rambus, Inc. will post 2.44 earnings per share for the current 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.