The Manufacturers Life Insurance Company Invests $105.82 Million in Rambus, Inc. $RMBS

The Manufacturers Life Insurance Company purchased a new position in shares of Rambus, Inc. (NASDAQ:RMBS) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 797,195 shares of the semiconductor company’s stock, valued at approximately $105,820,000.

Several other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Rambus during the second quarter worth approximately $1,853,645,000. Invesco Ltd. boosted its stake in shares of Rambus by 70.6% in the fourth quarter. Invesco Ltd. now owns 4,148,653 shares of the semiconductor company’s stock valued at $381,220,000 after buying an additional 1,716,621 shares during the period. Norges Bank acquired a new stake in Rambus during the fourth quarter worth approximately $156,356,000. Bank of America Corp DE increased its stake in Rambus by 196.0% during the 3rd quarter. Bank of America Corp DE now owns 1,550,665 shares of the semiconductor company’s stock worth $161,579,000 after acquiring an additional 1,026,776 shares during the period. Finally, Bessemer Group Inc. raised its holdings in Rambus by 1,009.5% in 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 in the last quarter. 88.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RMBS has been the topic of several analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Rambus in a report on Friday, June 5th. 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 note on Tuesday, April 28th. Jefferies Financial Group upped their price objective on shares of Rambus from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Wells Fargo & Company increased their price objective on shares of Rambus from $115.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Finally, Evercore reissued an “outperform” rating and issued a $172.00 target price on shares of Rambus in a report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $139.78.

Insider Activity at Rambus

In other Rambus news, Director Eric B. Stang sold 5,000 shares of Rambus stock in a transaction dated 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 in the company, valued at $2,805,828. The trade was a 20.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Emiko Higashi sold 10,000 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $160.50, for a total transaction of $1,605,000.00. Following the completion of the transaction, 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 position. The SEC filing for this sale provides additional information. Insiders have sold 20,000 shares of company stock valued at $3,185,750 over the last ninety days. 0.75% of the stock is owned by corporate insiders.

Rambus Stock Performance

Shares of RMBS stock opened at $89.86 on Wednesday. The stock’s fifty day moving average price is $106.10 and its two-hundred day moving average price is $112.40. The company has a market cap of $9.75 billion, a PE ratio of 41.22 and a beta of 1.88. 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 quarterly earnings results on Monday, July 27th. The semiconductor company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.05. Rambus had a return on equity of 17.89% and a net margin of 31.69%.The company had revenue of $207.39 million for the quarter, compared to analyst estimates of $199.30 million. During the same quarter last year, the company posted $0.53 EPS. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, equities analysts predict that Rambus, Inc. will post 2.52 EPS for the current fiscal year.

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.