Nissay Asset Management Corp Japan Raises Stock Holdings in Rambus, Inc. $RMBS

Nissay Asset Management Corp Japan boosted its stake in shares of Rambus, Inc. (NASDAQ:RMBS) by 42.8% during the second quarter, Holdings Channel.com reports. The firm owned 37,649 shares of the semiconductor company’s stock after purchasing an additional 11,275 shares during the quarter. Nissay Asset Management Corp Japan’s holdings in Rambus were worth $4,998,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in shares of Rambus during the second quarter valued at about $1,853,645,000. Price T Rowe Associates Inc. MD lifted its position in Rambus by 2.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,385,570 shares of the semiconductor company’s stock valued at $494,881,000 after acquiring an additional 140,226 shares during the last quarter. Invesco Ltd. boosted 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 valued at $381,220,000 after acquiring an additional 1,716,621 shares in the last quarter. Geode Capital Management LLC grew its holdings in Rambus by 3.4% in the fourth quarter. Geode Capital Management LLC now owns 2,842,715 shares of the semiconductor company’s stock worth $261,256,000 after purchasing an additional 94,214 shares during the last quarter. Finally, EdgePoint Investment Group Inc. increased its position in shares of Rambus by 38.5% during the first quarter. EdgePoint Investment Group Inc. now owns 1,947,742 shares of the semiconductor company’s stock worth $167,564,000 after purchasing an additional 541,056 shares in the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on RMBS shares. Glj Research set a $165.00 price objective on Rambus in a research report on Tuesday, July 28th. Rosenblatt Securities reiterated a “buy” rating and issued a $165.00 price target on shares of Rambus in a research note on Tuesday, July 28th. Benchmark reissued a “buy” rating on shares of Rambus in a report on Tuesday, July 28th. Finally, Weiss Ratings restated 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 company. Based on data from MarketBeat, Rambus has a consensus rating of “Moderate Buy” and a consensus price target of $145.88.

Insiders Place Their Bets

In other Rambus news, Director Necip Sayiner sold 5,000 shares of Rambus 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 completion of the sale, the director owned 18,223 shares of the company’s stock, valued at approximately $3,100,643.45. The trade was a 21.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Emiko Higashi sold 10,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $160.50, for a total value of $1,605,000.00. Following the sale, the director owned 49,519 shares in the company, valued at approximately $7,947,799.50. The trade was a 16.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.75% of the company’s stock.

Rambus Stock Performance

NASDAQ RMBS opened at $85.76 on Monday. The company has a fifty day simple moving average of $103.19 and a two-hundred day simple moving average of $112.05. The stock has a market cap of $9.30 billion, a P/E ratio of 39.34 and a beta of 1.88. Rambus, Inc. has a 12-month low of $70.90 and a 12-month high of $174.10.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings data on Monday, July 27th. The semiconductor company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.05. The firm had revenue of $207.39 million for the quarter, compared to analyst estimates of $199.30 million. Rambus had a net margin of 31.69% and a return on equity of 17.89%. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.53 earnings per share. As a group, sell-side analysts forecast that Rambus, Inc. will post 2.52 earnings per share for the current year.

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.