Ranger Investment Management L.P. Acquires Shares of 176,692 Rambus, Inc. $RMBS

Ranger Investment Management L.P. bought a new position in Rambus, Inc. (NASDAQ:RMBS) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 176,692 shares of the semiconductor company’s stock, valued at approximately $23,454,000. Rambus makes up approximately 1.5% of Ranger Investment Management L.P.’s investment portfolio, making the stock its 23rd biggest position.

A number of other hedge funds have also recently modified their holdings of RMBS. BlackRock Inc. acquired a new stake in shares of Rambus during the 2nd quarter worth about $1,853,645,000. Price T Rowe Associates Inc. MD boosted its position in Rambus by 2.7% in the 4th 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 buying an additional 140,226 shares during the period. Invesco Ltd. increased its holdings in Rambus by 70.6% during the 4th quarter. Invesco Ltd. now owns 4,148,653 shares of the semiconductor company’s stock worth $381,220,000 after purchasing an additional 1,716,621 shares during the period. Geode Capital Management LLC raised 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 valued at $261,256,000 after acquiring an additional 94,214 shares in the last quarter. Finally, EdgePoint Investment Group Inc. lifted its position in shares of Rambus by 38.5% during the 1st 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 during the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Price Performance

NASDAQ RMBS opened at $91.24 on Monday. Rambus, Inc. has a 52-week low of $70.45 and a 52-week high of $174.10. The business’s 50-day moving average price is $108.07 and its 200 day moving average price is $112.56. The firm has a market cap of $9.90 billion, a P/E ratio of 41.85 and a beta of 1.88.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings data on Monday, July 27th. The semiconductor company reported $0.77 EPS for the quarter, beating 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 firm had revenue of $207.39 million during the quarter, compared to the consensus estimate of $199.30 million. During the same period in the prior year, the business earned $0.53 EPS. The firm’s revenue was up 20.4% compared to the same quarter last year. As a group, analysts anticipate that Rambus, Inc. will post 2.52 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RMBS. Rosenblatt Securities reaffirmed a “buy” rating and issued a $165.00 target price on shares of Rambus in a research report on Tuesday, July 28th. Evercore restated an “outperform” rating and set a $172.00 price target on shares of Rambus in a research note on Tuesday, April 28th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rambus in a research note on Friday, June 5th. Robert W. Baird downgraded Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price objective for the company. in a report on Tuesday, April 28th. Finally, Benchmark restated a “buy” rating on shares of Rambus in a research report on Tuesday, July 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 company’s stock. Based on data from MarketBeat, Rambus has a consensus rating of “Moderate Buy” and an average price target of $139.78.

Insider Buying and Selling

In other news, Director Eric B. Stang sold 5,000 shares of the business’s 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 approximately $2,805,828. The trade was a 20.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Emiko Higashi sold 10,000 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $160.50, for a total transaction of $1,605,000.00. Following the transaction, the director owned 49,519 shares of the company’s stock, 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. In the last ninety days, insiders sold 62,914 shares of company stock worth $9,724,775. 0.75% of the stock is currently owned by company insiders.

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.