Global Retirement Partners LLC Takes Position in Rambus, Inc. $RMBS

Global Retirement Partners LLC purchased a new stake in Rambus, Inc. (NASDAQ:RMBS) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 8,471 shares of the semiconductor company’s stock, valued at approximately $1,124,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp bought a new stake in shares of Rambus in the 2nd quarter valued at approximately $109,940,000. Focus Partners Advisor Solutions LLC purchased a new position in shares of Rambus in the 2nd quarter worth approximately $451,000. State of Wyoming bought a new position in shares of Rambus during the 2nd quarter valued at approximately $1,825,000. Stoneridge Investment Partners LLC bought a new position in shares of Rambus during the 2nd quarter valued at approximately $204,000. Finally, Handelsbanken Fonder AB increased its position in shares of Rambus by 28.1% during the 2nd quarter. Handelsbanken Fonder AB now owns 150,857 shares of the semiconductor company’s stock valued at $20,025,000 after purchasing an additional 33,060 shares during the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on RMBS shares. Robert W. Baird downgraded 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. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rambus in a research report on Friday, June 5th. Wells Fargo & Company increased their target price on shares of Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Rosenblatt Securities restated a “buy” rating and issued a $165.00 target price on shares of Rambus in a report on Tuesday, July 28th. Finally, Evercore reaffirmed an “outperform” rating and set a $172.00 price target on shares of Rambus in a research note on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.78.

Rambus Stock Performance

Rambus stock opened at $100.61 on Tuesday. Rambus, Inc. has a fifty-two week low of $67.15 and a fifty-two week high of $174.10. The company has a 50 day moving average price of $112.23 and a 200-day moving average price of $113.30. The company has a market capitalization of $10.91 billion, a PE ratio of 46.15 and a beta of 1.88.

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

Insider Buying and Selling

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 Emiko Higashi sold 10,000 shares of the business’s stock in a transaction on 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 owned 49,519 shares in the company, valued at approximately $7,947,799.50. This trade represents a 16.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 62,914 shares of company stock valued at $9,724,775. 0.75% of the stock is currently owned by insiders.

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.