Bessemer Group Inc. Purchases 946,177 Shares of Rambus, Inc. $RMBS

Bessemer Group Inc. lifted its position in Rambus, Inc. (NASDAQ:RMBS) by 1,009.5% in the 1st quarter, Holdings Channel reports. The fund owned 1,039,905 shares of the semiconductor company’s stock after acquiring an additional 946,177 shares during the quarter. Bessemer Group Inc.’s holdings in Rambus were worth $89,463,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Acumen Wealth Advisors LLC bought a new position in Rambus in the fourth quarter worth $25,000. Torren Management LLC purchased a new position in Rambus during the 4th quarter valued at about $26,000. Spire Wealth Management boosted its stake in Rambus by 199.0% during the fourth quarter. Spire Wealth Management now owns 302 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 201 shares in the last quarter. University of Texas Texas AM Investment Management Co. purchased a new stake in Rambus in the fourth quarter worth about $28,000. Finally, IFP Advisors Inc lifted its holdings in shares of Rambus by 126.7% during the third quarter. IFP Advisors Inc now owns 442 shares of the semiconductor company’s stock valued at $47,000 after purchasing an additional 247 shares during the last quarter. 88.54% of the stock is currently owned by institutional investors.

Insider Activity

In other Rambus news, Director Eric B. Stang sold 5,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director owned 19,218 shares in the company, valued at $2,805,828. This trade represents a 20.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Necip Sayiner sold 5,000 shares of Rambus stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $170.15, for a total value of $850,750.00. Following the completion of the sale, the director directly owned 18,223 shares in the company, valued at approximately $3,100,643.45. The trade was a 21.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 65,886 shares of company stock valued at $10,171,466. 0.75% of the stock is owned by corporate insiders.

Rambus Stock Up 0.0%

RMBS stock opened at $101.44 on Friday. The business’s 50-day moving average price is $131.72 and its 200-day moving average price is $114.01. The stock has a market cap of $10.97 billion, a P/E ratio of 48.30 and a beta of 1.84. Rambus, Inc. has a twelve month low of $62.81 and a twelve month high of $174.10.

Rambus (NASDAQ:RMBS) last released its earnings results on Monday, April 27th. The semiconductor company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. The company had revenue of $180.19 million for the quarter, compared to analysts’ expectations of $179.94 million. Rambus had a net margin of 31.90% and a return on equity of 17.41%. On average, equities research analysts expect that Rambus, Inc. will post 2.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Robert W. Baird cut Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price objective for the company. in a research note on Tuesday, April 28th. Wells Fargo & Company raised their price objective on shares of Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Evercore reiterated an “outperform” rating and set a $172.00 price target on shares of Rambus in a report on Tuesday, April 28th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rambus in a research note on Friday, June 5th. Finally, Jefferies Financial Group boosted their price target on Rambus from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Two research analysts have 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 data from MarketBeat, Rambus has an average rating of “Moderate Buy” and an average price target of $134.75.

Rambus Company 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.