Sanctuary Advisors LLC Takes $872,000 Position in Rambus, Inc. $RMBS

Sanctuary Advisors LLC acquired a new stake in shares of Rambus, Inc. (NASDAQ:RMBS) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,567 shares of the semiconductor company’s stock, valued at approximately $872,000.

A number of other hedge funds have also recently bought and sold shares of RMBS. NewEdge Advisors LLC raised its holdings in Rambus by 22,321.4% in the 1st quarter. NewEdge Advisors LLC now owns 9,417 shares of the semiconductor company’s stock valued at $488,000 after acquiring an additional 9,375 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Rambus by 34.1% during the first quarter. Empowered Funds LLC now owns 22,750 shares of the semiconductor company’s stock worth $1,178,000 after purchasing an additional 5,783 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Rambus by 6.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 309,512 shares of the semiconductor company’s stock worth $16,025,000 after purchasing an additional 19,120 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Rambus in the first quarter valued at $218,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Rambus in the second quarter valued at $102,000. Institutional investors and hedge funds own 88.54% of the company’s stock.

Rambus Stock Down 5.9%

Shares of NASDAQ RMBS opened at $85.76 on Friday. The stock has a market capitalization of $9.30 billion, a PE ratio of 39.34 and a beta of 1.88. The firm has a fifty day moving average of $103.19 and a 200-day moving average of $112.04. Rambus, Inc. has a 52-week low of $70.90 and a 52-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 for the quarter, topping 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 business had revenue of $207.39 million for the quarter, compared to analyst estimates of $199.30 million. During the same period last year, the company posted $0.53 EPS. The business’s quarterly revenue was up 20.4% on a year-over-year basis. Equities research analysts expect that Rambus, Inc. will post 2.52 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Eric B. Stang sold 5,000 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $146.00, for a total transaction of $730,000.00. Following the completion of the sale, the director owned 19,218 shares in the company, valued at approximately $2,805,828. The trade was a 20.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $1,605,000.00. Following the sale, the director directly owned 49,519 shares of the company’s stock, valued at approximately $7,947,799.50. This trade represents a 16.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 20,000 shares of company stock worth $3,185,750 over the last three months. 0.75% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on RMBS shares. Glj Research set a $165.00 target price on Rambus in a research note on Tuesday, July 28th. Benchmark restated a “buy” rating on shares of Rambus in a report on Tuesday, July 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rambus in a research note on Friday, June 5th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $165.00 price objective on shares of Rambus in a report on Tuesday, July 28th. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $145.88.

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.