29,957 Shares in Rambus, Inc. $RMBS Bought by Diversify Advisory Services LLC

Diversify Advisory Services LLC acquired a new stake in Rambus, Inc. (NASDAQ:RMBS) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 29,957 shares of the semiconductor company’s stock, valued at approximately $2,888,000.

A number of other large investors also recently modified their holdings of the stock. BlackRock Inc. purchased a new position in shares of Rambus in the 2nd quarter worth approximately $1,853,645,000. Invesco Ltd. increased its holdings in Rambus by 70.6% during the fourth quarter. Invesco Ltd. now owns 4,148,653 shares of the semiconductor company’s stock worth $381,220,000 after buying an additional 1,716,621 shares during the last quarter. Norges Bank purchased a new stake in Rambus during the fourth quarter worth about $156,356,000. Bank of America Corp DE raised its position in Rambus by 196.0% in the third quarter. Bank of America Corp DE now owns 1,550,665 shares of the semiconductor company’s stock worth $161,579,000 after acquiring an additional 1,026,776 shares during the period. Finally, Bessemer Group Inc. raised its position in Rambus by 1,009.5% in the first quarter. Bessemer Group Inc. now owns 1,039,905 shares of the semiconductor company’s stock worth $89,463,000 after acquiring an additional 946,177 shares during the period. Institutional investors own 88.54% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on RMBS. Weiss Ratings restated a “hold (c+)” rating on shares of Rambus in a research note on Friday, June 5th. Jefferies Financial Group increased their target price on shares of Rambus from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Glj Research set a $165.00 target price on shares of Rambus in a research note on Tuesday, July 28th. Rosenblatt Securities reissued a “buy” rating and issued a $165.00 price target on shares of Rambus in a research report on Tuesday, July 28th. Finally, Wells Fargo & Company upped their price target on shares of Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $139.78.

Rambus Stock Performance

NASDAQ RMBS opened at $93.71 on Wednesday. Rambus, Inc. has a 52-week low of $67.15 and a 52-week high of $174.10. The company has a fifty day moving average of $111.17 and a 200-day moving average of $113.08. The company has a market capitalization of $10.16 billion, a P/E ratio of 42.99 and a beta of 1.88.

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

Insiders Place Their Bets

In other Rambus news, Director Emiko Higashi sold 10,000 shares of the firm’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 completion of the sale, the director directly owned 49,519 shares in the company, valued at $7,947,799.50. This trade represents a 16.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Xianzhi Sean Fan sold 37,914 shares of Rambus stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $151.69, for a total value of $5,751,174.66. Following the sale, the executive vice president owned 168,358 shares in the company, valued at $25,538,225.02. This represents a 18.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 62,914 shares of company stock worth $9,724,775 in the last quarter. 0.75% of the stock is currently owned by company insiders.

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.