Caisse de depot et placement du Quebec Invests $37.51 Million in Rambus, Inc. $RMBS

Caisse de depot et placement du Quebec purchased a new position in shares of Rambus, Inc. (NASDAQ:RMBS) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 282,580 shares of the semiconductor company’s stock, valued at approximately $37,510,000.

Other hedge funds have also recently modified their holdings of the company. Man Group plc purchased a new position in Rambus in the 2nd quarter valued at $5,125,000. Jupiter Topco LLC purchased a new position in Rambus during the 2nd quarter worth $38,296,000. Hsbc Holdings PLC purchased a new stake in shares of Rambus in the second quarter valued at about $6,110,000. EFG International AG purchased a new stake in shares of Rambus in the second quarter valued at about $5,987,000. Finally, Primecap Management Co. CA acquired a new position in shares of Rambus during the second quarter worth about $6,305,000. 88.54% of the stock is owned by institutional investors and hedge funds.

Rambus Trading Down 5.9%

Shares of NASDAQ RMBS opened at $85.76 on Friday. The company’s 50-day moving average price is $103.19 and its 200 day moving average price is $112.04. Rambus, Inc. has a 52 week low of $70.90 and a 52 week high of $174.10. The stock has a market cap of $9.30 billion, a price-to-earnings ratio of 39.34 and a beta of 1.88.

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 during the quarter, compared to analysts’ expectations of $199.30 million. During the same quarter in the previous year, the business posted $0.53 earnings per share. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. As a group, research analysts expect that Rambus, Inc. will post 2.52 earnings per share for the current year.

Insider Transactions at Rambus

In other news, Director Necip Sayiner sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $170.15, for a total transaction of $850,750.00. Following the completion of the transaction, the director directly owned 18,223 shares of the company’s stock, valued at $3,100,643.45. This trade represents a 21.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Eric B. Stang sold 5,000 shares of Rambus stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $146.00, for a total value of $730,000.00. Following the transaction, the director owned 19,218 shares of the company’s stock, valued at $2,805,828. This represents a 20.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 20,000 shares of company stock valued at $3,185,750 in the last ninety days. Corporate insiders own 0.75% of the company’s stock.

Analyst Upgrades and Downgrades

RMBS has been the subject of several analyst reports. Rosenblatt Securities reissued a “buy” rating and set a $165.00 price target on shares of Rambus in a report on Tuesday, July 28th. Glj Research set a $165.00 price objective on Rambus in a report on Tuesday, July 28th. Benchmark reiterated a “buy” rating on shares of Rambus in a research report on Tuesday, July 28th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Rambus in a research note on Friday, June 5th. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Rambus has an average rating of “Moderate Buy” and a consensus 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.