Canada Pension Plan Investment Board Makes New Investment in Rambus, Inc. $RMBS

Canada Pension Plan Investment Board bought a new stake in Rambus, Inc. (NASDAQ:RMBS) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 330,648 shares of the semiconductor company’s stock, valued at approximately $43,890,000.

Several other large investors also recently modified their holdings of the business. Castleark Management LLC acquired a new stake in shares of Rambus during the second quarter worth about $745,000. Nicholas Investment Partners LP acquired a new position in shares of Rambus in the 2nd quarter valued at approximately $7,084,000. Legal & General Group Plc acquired a new position in shares of Rambus in the 2nd quarter valued at approximately $20,392,000. The Manufacturers Life Insurance Company bought a new stake in Rambus during the 2nd quarter worth approximately $105,820,000. Finally, Ranger Investment Management L.P. bought a new stake in Rambus during the 2nd quarter worth approximately $23,454,000. 88.54% of the stock is currently owned by institutional investors.

Insider Transactions at Rambus

In related news, Director Eric B. Stang sold 5,000 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $146.00, for a total transaction of $730,000.00. Following the completion of the transaction, the director owned 19,218 shares in the company, valued at approximately $2,805,828. This represents a 20.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Emiko Higashi sold 10,000 shares of Rambus stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $160.50, for a total transaction 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. The trade was a 16.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 20,000 shares of company stock valued at $3,185,750 in the last ninety days. 0.75% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rambus in a research note on Friday, June 5th. Glj Research set a $165.00 price objective on shares of Rambus in a research report on Tuesday, July 28th. Benchmark reissued a “buy” rating on shares of Rambus in a research report on Tuesday, July 28th. Finally, Rosenblatt Securities restated a “buy” rating and set a $165.00 price objective on shares of Rambus in a report on Tuesday, July 28th. Six research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.88.

Rambus Price Performance

RMBS stock opened at $91.11 on Friday. The stock has a market capitalization of $9.88 billion, a P/E ratio of 41.79 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. The business has a 50-day moving average of $104.29 and a 200-day moving average of $112.23.

Rambus (NASDAQ:RMBS) last announced 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. The business had revenue of $207.39 million for the quarter, compared to analyst estimates of $199.30 million. Rambus had a return on equity of 17.89% and a net margin of 31.69%.Rambus’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.53 EPS. Equities analysts expect that Rambus, Inc. will post 2.52 EPS for the current 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.