Erste Asset Management GmbH Boosts Stock Position in Rambus, Inc. $RMBS

Erste Asset Management GmbH increased its stake in shares of Rambus, Inc. (NASDAQ:RMBS) by 11.2% in the fourth quarter, HoldingsChannel reports. The firm owned 55,600 shares of the semiconductor company’s stock after buying an additional 5,600 shares during the quarter. Erste Asset Management GmbH’s holdings in Rambus were worth $5,233,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RMBS. O Shaughnessy Asset Management LLC lifted its position in Rambus by 61.0% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 8,600 shares of the semiconductor company’s stock worth $790,000 after acquiring an additional 3,258 shares in the last quarter. Cookson Peirce & Co. Inc. acquired a new position in Rambus during the 4th quarter worth approximately $1,250,000. Vestcor Inc acquired a new position in Rambus during the 4th quarter worth approximately $174,000. Parallel Advisors LLC lifted its position in Rambus by 5.0% during the 4th quarter. Parallel Advisors LLC now owns 2,503 shares of the semiconductor company’s stock worth $230,000 after acquiring an additional 120 shares in the last quarter. Finally, Vise Technologies Inc. lifted its position in Rambus by 27.4% during the 4th quarter. Vise Technologies Inc. now owns 3,627 shares of the semiconductor company’s stock worth $333,000 after acquiring an additional 781 shares in the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Stock Performance

Shares of RMBS stock opened at $146.84 on Wednesday. Rambus, Inc. has a 1 year low of $57.98 and a 1 year high of $174.10. The stock has a fifty day moving average of $127.54 and a two-hundred day moving average of $108.95. The firm has a market capitalization of $15.88 billion, a PE ratio of 69.92 and a beta of 1.84.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings results 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. Rambus had a return on equity of 17.41% and a net margin of 31.90%.The company had revenue of $180.19 million during the quarter, compared to analyst estimates of $179.94 million. Equities research analysts predict that Rambus, Inc. will post 2.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on RMBS. Evercore reissued an “outperform” rating and set a $172.00 price target on shares of Rambus in a research report on Tuesday, April 28th. Wells Fargo & Company boosted their price target on Rambus from $115.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Weiss Ratings restated a “hold (c+)” rating on shares of Rambus in a report on Friday. Rosenblatt Securities lifted their price objective on Rambus from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Finally, Robert W. Baird downgraded Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price objective on the stock. in a report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Rambus currently has a consensus rating of “Moderate Buy” and a consensus price target of $130.43.

Insiders Place Their Bets

In other news, Director Emiko Higashi sold 10,000 shares of the company’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 completion of the sale, the director owned 49,519 shares in the company, valued at $7,947,799.50. This represents a 16.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Meera Rao sold 2,972 shares of the company’s stock in a transaction on Friday, April 24th. The shares were sold at an average price of $150.30, for a total value of $446,691.60. Following the completion of the sale, the director owned 19,974 shares of the company’s stock, valued at approximately $3,002,092.20. This trade represents a 12.95% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 79,850 shares of company stock valued at $11,649,796. 0.75% of the stock is currently owned by insiders.

Rambus 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.