Keebeck Wealth Management Takes Position in Rambus, Inc. $RMBS

Keebeck Wealth Management bought a new position in Rambus, Inc. (NASDAQ:RMBS) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 6,214 shares of the semiconductor company’s stock, valued at approximately $825,000.

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

Insider Transactions at Rambus

In related news, Director Emiko Higashi sold 10,000 shares of the 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 transaction, the director owned 49,519 shares in the company, valued at approximately $7,947,799.50. This represents a 16.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Necip Sayiner sold 5,000 shares of Rambus stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $170.15, for a total transaction of $850,750.00. Following the completion of the sale, the director owned 18,223 shares of the company’s stock, valued at $3,100,643.45. This trade represents a 21.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 62,914 shares of company stock worth $9,724,775 in the last ninety days. Company insiders own 0.75% of the company’s stock.

Rambus Stock Down 1.0%

RMBS stock opened at $91.24 on Friday. Rambus, Inc. has a 12-month low of $70.45 and a 12-month high of $174.10. The company has a market cap of $9.90 billion, a price-to-earnings ratio of 41.85 and a beta of 1.88. The company has a 50 day moving average of $108.07 and a two-hundred day moving average of $112.56.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on RMBS shares. Robert W. Baird cut Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price target on the stock. in a report on Tuesday, April 28th. Wells Fargo & Company raised their target price on Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Rosenblatt Securities reaffirmed a “buy” rating and set a $165.00 target price on shares of Rambus in a research note on Tuesday, July 28th. Jefferies Financial Group boosted their target price on Rambus from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Finally, Benchmark restated a “buy” rating on shares of Rambus in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $139.78.

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.