Nicholas Investment Partners LP Acquires New Position in Rambus, Inc. $RMBS

Nicholas Investment Partners LP bought a new position in Rambus, Inc. (NASDAQ:RMBS) in the second quarter, according to its most recent filing with the SEC. The firm bought 53,368 shares of the semiconductor company’s stock, valued at approximately $7,084,000.

Several other large investors also recently bought and sold shares of RMBS. Danske Bank A S purchased a new position in shares of Rambus in the second quarter worth $27,000. Acumen Wealth Advisors LLC acquired a new stake in shares of Rambus during the fourth quarter worth $25,000. Torren Management LLC purchased a new stake in shares of Rambus during the fourth quarter valued at $26,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Rambus during the second quarter valued at $41,000. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in shares of Rambus in the 4th quarter valued at $28,000. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Stock Down 4.6%

Shares of NASDAQ RMBS opened at $87.07 on Tuesday. Rambus, Inc. has a 52-week low of $70.90 and a 52-week high of $174.10. The firm has a market cap of $9.44 billion, a price-to-earnings ratio of 39.94 and a beta of 1.88. The company’s 50-day simple moving average is $106.95 and its 200-day simple moving average is $112.48.

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

Insider Transactions at Rambus

In other news, Director Eric B. Stang sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $146.00, for a total value of $730,000.00. Following the transaction, the director directly owned 19,218 shares of the company’s stock, valued at approximately $2,805,828. This trade represents a 20.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Necip Sayiner sold 5,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $3,100,643.45. The trade was a 21.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 20,000 shares of company stock valued at $3,185,750 over the last 90 days. 0.75% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rambus in a research report on Friday, June 5th. Robert W. Baird lowered Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price objective on the stock. in a report on Tuesday, April 28th. Glj Research set a $165.00 price objective on Rambus in a research note on Tuesday, July 28th. Wells Fargo & Company lifted their target price on Rambus from $115.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. Finally, Evercore reiterated an “outperform” rating and issued a $172.00 target price on shares of Rambus in a research report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $139.78.

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.