Castleark Management LLC Buys New Position in Rambus, Inc. $RMBS

Castleark Management LLC purchased a new position in shares of Rambus, Inc. (NASDAQ:RMBS) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 5,610 shares of the semiconductor company’s stock, valued at approximately $745,000.

Several other hedge funds also recently made changes to their positions in the business. Acumen Wealth Advisors LLC bought a new stake in shares of Rambus in the fourth quarter worth $25,000. Torren Management LLC acquired a new stake in Rambus in the 4th quarter valued at $26,000. Danske Bank A S bought a new stake in Rambus during the 2nd quarter worth about $27,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Rambus during the 4th quarter worth about $28,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Rambus during the 2nd quarter worth about $41,000. 88.54% of the stock is owned by institutional investors.

Rambus Price Performance

Rambus stock opened at $90.03 on Thursday. The firm has a market capitalization of $9.76 billion, a PE ratio of 41.30 and a beta of 1.88. The company’s 50-day moving average is $105.30 and its 200-day moving average is $112.34. Rambus, Inc. has a fifty-two week low of $70.90 and a fifty-two week high of $174.10.

Rambus (NASDAQ:RMBS) last issued its earnings results on Monday, July 27th. The semiconductor company reported $0.77 earnings per share (EPS) 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 company had revenue of $207.39 million for the quarter, compared to analysts’ expectations of $199.30 million. During the same period in the prior year, the firm earned $0.53 EPS. Rambus’s quarterly revenue was up 20.4% compared to the same quarter last year. As a group, analysts expect that Rambus, Inc. will post 2.52 EPS for the current year.

Analyst Upgrades and Downgrades

RMBS has been the topic of a number of recent research reports. Glj Research set a $165.00 target price on Rambus in a research report on Tuesday, July 28th. Rosenblatt Securities reissued a “buy” rating and set a $165.00 price target on shares of Rambus in a research report on Tuesday, July 28th. Benchmark restated a “buy” rating on shares of Rambus in a research note on Tuesday, July 28th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Rambus in a research note on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $139.78.

Insider Buying and Selling at Rambus

In other news, Director Emiko Higashi sold 10,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director directly owned 49,519 shares of the company’s stock, valued at $7,947,799.50. This trade represents a 16.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Eric B. Stang sold 5,000 shares of Rambus stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $146.00, for a total value of $730,000.00. Following the transaction, the director owned 19,218 shares of the company’s stock, valued at $2,805,828. This represents a 20.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 20,000 shares of company stock worth $3,185,750 over the last 90 days. Company insiders own 0.75% of the company’s stock.

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.