TimesSquare Capital Management LLC Takes Position in Rambus, Inc. $RMBS

TimesSquare Capital Management LLC bought a new position in Rambus, Inc. (NASDAQ:RMBS) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 267,705 shares of the semiconductor company’s stock, valued at approximately $35,535,000.

Other large investors have also recently made changes to their positions in the company. Krilogy Financial LLC grew its holdings in Rambus by 3.8% during the 1st quarter. Krilogy Financial LLC now owns 2,238 shares of the semiconductor company’s stock valued at $193,000 after purchasing an additional 81 shares during the last quarter. Oak Grove Capital LLC lifted its stake in Rambus by 1.3% in the fourth quarter. Oak Grove Capital LLC now owns 7,600 shares of the semiconductor company’s stock worth $698,000 after purchasing an additional 100 shares during the last quarter. Northwestern Mutual Investment Management Company LLC lifted its stake in Rambus by 0.4% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 24,085 shares of the semiconductor company’s stock worth $2,213,000 after purchasing an additional 103 shares during the last quarter. Balefire LLC boosted its position in shares of Rambus by 3.8% during the first quarter. Balefire LLC now owns 2,932 shares of the semiconductor company’s stock valued at $252,000 after buying an additional 108 shares during the period. Finally, Ashton Thomas Private Wealth LLC boosted its position in shares of Rambus by 3.3% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,445 shares of the semiconductor company’s stock valued at $317,000 after buying an additional 110 shares during the period. 88.54% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Rambus

In other Rambus news, Director Eric B. Stang sold 5,000 shares of Rambus stock in a transaction 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 directly owned 19,218 shares of the company’s stock, valued at $2,805,828. The trade was a 20.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 value of $850,750.00. Following the completion of the sale, the director owned 18,223 shares of the company’s stock, valued at $3,100,643.45. This represents a 21.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 62,914 shares of company stock valued at $9,724,775. Company insiders own 0.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RMBS. Glj Research set a $165.00 price target on Rambus in a report on Tuesday, July 28th. Benchmark restated a “buy” rating on shares of Rambus in a report on Tuesday, July 28th. Wells Fargo & Company upped their price objective on Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rambus in a research note on Friday, June 5th. Finally, Robert W. Baird downgraded Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 target price for the company. in a research report on Tuesday, April 28th. One equities 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 company currently has an average rating of “Moderate Buy” and a consensus price target of $139.78.

Rambus Price Performance

Shares of RMBS stock opened at $100.61 on Tuesday. The company has a market capitalization of $10.91 billion, a P/E ratio of 46.15 and a beta of 1.88. The company’s 50-day simple moving average is $112.23 and its two-hundred day simple moving average is $113.30. Rambus, Inc. has a one year low of $67.15 and a one year high of $174.10.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings results on Monday, July 27th. The semiconductor company reported $0.77 earnings per share 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 net margin of 31.69% and a return on equity of 17.89%. The company’s revenue was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.53 earnings per share. On average, research analysts expect that Rambus, Inc. will post 2.52 EPS for the current fiscal year.

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.