William Blair Investment Management LLC Makes New $26.56 Million Investment in Rambus, Inc. $RMBS

William Blair Investment Management LLC acquired a new stake in shares of Rambus, Inc. (NASDAQ:RMBS) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 200,116 shares of the semiconductor company’s stock, valued at approximately $26,563,000. William Blair Investment Management LLC owned about 0.18% of Rambus as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Rambus in the second quarter worth about $1,853,645,000. Invesco Ltd. increased its stake in Rambus by 70.6% in the fourth quarter. Invesco Ltd. now owns 4,148,653 shares of the semiconductor company’s stock worth $381,220,000 after purchasing an additional 1,716,621 shares during the period. Norges Bank bought a new stake in shares of Rambus during the fourth quarter worth $156,356,000. Bank of America Corp DE boosted its stake in shares of Rambus by 196.0% during the third quarter. Bank of America Corp DE now owns 1,550,665 shares of the semiconductor company’s stock valued at $161,579,000 after purchasing an additional 1,026,776 shares during the period. Finally, Bessemer Group Inc. increased its stake 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 worth $89,463,000 after buying an additional 946,177 shares during the period. 88.54% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Rambus

In related news, Director Eric B. Stang sold 5,000 shares of the firm’s 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 of the company’s stock, valued at $2,805,828. This trade represents a 20.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Xianzhi Sean Fan sold 37,914 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $151.69, for a total transaction of $5,751,174.66. Following the completion of the sale, the executive vice president directly owned 168,358 shares in the company, valued at approximately $25,538,225.02. The trade was a 18.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 62,914 shares of company stock valued at $9,724,775 over the last quarter. Insiders own 0.75% of the company’s stock.

Rambus Stock Down 1.0%

Shares of RMBS opened at $91.24 on Friday. The company has a 50 day moving average of $108.07 and a two-hundred day moving average of $112.56. Rambus, Inc. has a twelve month low of $70.45 and a twelve 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.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings data on Monday, July 27th. The semiconductor company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.05. Rambus had a return on equity of 17.89% and a net margin of 31.69%.The firm had revenue of $207.39 million during the quarter, compared to analysts’ expectations of $199.30 million. During the same quarter last year, the firm earned $0.53 EPS. The business’s quarterly revenue was up 20.4% on a year-over-year basis. On average, sell-side analysts expect that Rambus, Inc. will post 2.52 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on RMBS shares. Benchmark reaffirmed a “buy” rating on shares of Rambus in a research note on Tuesday, July 28th. Jefferies Financial Group upped 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. Robert W. Baird lowered Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price target on the stock. in a research note on Tuesday, April 28th. Evercore restated an “outperform” rating and issued a $172.00 price objective on shares of Rambus in a report on Tuesday, April 28th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $165.00 target price on shares of Rambus in a report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Rambus presently 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.