Evolve Private Wealth LLC Acquires New Holdings in Rambus, Inc. $RMBS

Evolve Private Wealth LLC bought a new position in Rambus, Inc. (NASDAQ:RMBS) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 7,310 shares of the semiconductor company’s stock, valued at approximately $970,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Acumen Wealth Advisors LLC bought a new position in Rambus in the 4th quarter worth $25,000. Torren Management LLC acquired a new position in Rambus in the 4th quarter valued at approximately $26,000. Danske Bank A S acquired a new position in shares of Rambus in the second quarter valued at $27,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Rambus during the 4th quarter valued at about $28,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Rambus during the second quarter worth about $41,000. Institutional investors own 88.54% of the company’s stock.

Rambus Stock Performance

Shares of NASDAQ RMBS opened at $91.24 on Monday. Rambus, Inc. has a 1-year low of $70.45 and a 1-year high of $174.10. The company has a market cap of $9.90 billion, a PE 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 announced its earnings results on Monday, July 27th. The semiconductor company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.05. Rambus had a net margin of 31.69% and a return on equity of 17.89%. The company had revenue of $207.39 million for the quarter, compared to analyst estimates of $199.30 million. During the same period in the prior year, the business earned $0.53 earnings per share. Rambus’s quarterly revenue was up 20.4% on a year-over-year basis. As a group, equities research analysts forecast that Rambus, Inc. will post 2.52 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on RMBS shares. Wells Fargo & Company boosted their target price 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. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rambus in a report on Friday, June 5th. Benchmark reiterated a “buy” rating on shares of Rambus in a research note on Tuesday, July 28th. Rosenblatt Securities reissued a “buy” rating and issued a $165.00 target price on shares of Rambus in a report on Tuesday, July 28th. Finally, Jefferies Financial Group increased their price target on Rambus from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $139.78.

Insider Transactions at Rambus

In other Rambus news, Director Necip Sayiner sold 5,000 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $170.15, for a total transaction of $850,750.00. Following the transaction, the director owned 18,223 shares of the company’s stock, valued at approximately $3,100,643.45. This represents a 21.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $730,000.00. Following the completion of the transaction, the director owned 19,218 shares in the company, valued at $2,805,828. The trade was a 20.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 62,914 shares of company stock worth $9,724,775 in the last quarter. 0.75% of the stock is owned by corporate insiders.

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.