Pacer Advisors Inc. Boosts Stake in Rambus, Inc. $RMBS

Pacer Advisors Inc. raised its stake in shares of Rambus, Inc. (NASDAQ:RMBS) by 80.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,001 shares of the semiconductor company’s stock after acquiring an additional 16,542 shares during the quarter. Pacer Advisors Inc.’s holdings in Rambus were worth $3,183,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. NewEdge Advisors LLC lifted its stake in shares of Rambus by 22,321.4% during the 1st quarter. NewEdge Advisors LLC now owns 9,417 shares of the semiconductor company’s stock worth $488,000 after purchasing an additional 9,375 shares during the last quarter. Empowered Funds LLC grew its stake in Rambus by 34.1% in the first quarter. Empowered Funds LLC now owns 22,750 shares of the semiconductor company’s stock valued at $1,178,000 after purchasing an additional 5,783 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Rambus by 6.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 309,512 shares of the semiconductor company’s stock worth $16,025,000 after purchasing an additional 19,120 shares in the last quarter. Acadian Asset Management LLC bought a new position in Rambus in the first quarter worth about $218,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Rambus during the second quarter valued at about $102,000. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Rambus Stock Performance

Shares of NASDAQ RMBS opened at $97.68 on Friday. The company has a market cap of $10.59 billion, a PE ratio of 44.81 and a beta of 1.88. The business has a 50-day simple moving average of $120.26 and a two-hundred day simple moving average of $114.13. Rambus, Inc. has a fifty-two week low of $67.15 and a fifty-two week high of $174.10.

Insider Activity at Rambus

In related news, Director Emiko Higashi sold 10,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director directly owned 49,519 shares of the company’s stock, valued at $7,947,799.50. This trade represents a 16.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through 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 transaction of $730,000.00. Following the completion of the sale, 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 disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 62,914 shares of company stock valued at $9,724,775. Company insiders own 0.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RMBS. Evercore restated an “outperform” rating and issued a $172.00 price target on shares of Rambus in a report on Tuesday, April 28th. Benchmark reiterated a “buy” rating on shares of Rambus in a research note on Tuesday, July 28th. Weiss Ratings reissued a “hold (c+)” rating on shares of Rambus in a research report on Friday, June 5th. Rosenblatt Securities restated a “buy” rating and issued a $165.00 target price on shares of Rambus in a research note on Tuesday, July 28th. Finally, Glj Research set a $165.00 price target on shares of Rambus in a report on Tuesday, July 28th. One investment 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.78.

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.