Van ECK Associates Corp Purchases 22,742 Shares of Rambus, Inc. $RMBS

Van ECK Associates Corp lifted its position in shares of Rambus, Inc. (NASDAQ:RMBS) by 15.7% during the 2nd quarter, Holdings Channel reports. The firm owned 167,993 shares of the semiconductor company’s stock after purchasing an additional 22,742 shares during the quarter. Van ECK Associates Corp’s holdings in Rambus were worth $22,299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Nissay Asset Management Corp Japan raised its holdings in shares of Rambus by 42.8% in the 2nd quarter. Nissay Asset Management Corp Japan now owns 37,649 shares of the semiconductor company’s stock valued at $4,998,000 after purchasing an additional 11,275 shares during the period. Hsbc Holdings PLC grew its holdings in Rambus by 658.6% during the second quarter. Hsbc Holdings PLC now owns 48,013 shares of the semiconductor company’s stock worth $6,110,000 after purchasing an additional 41,684 shares during the period. Beacon Pointe Advisors LLC acquired a new position in Rambus during the second quarter worth approximately $216,000. Rakuten Investment Management Inc. acquired a new position in Rambus during the second quarter worth approximately $1,731,000. Finally, Orion Capital Management LLC acquired a new position in Rambus during the second quarter worth approximately $93,000. 88.54% of the stock is owned by institutional investors.

Insider Activity at Rambus

In other news, Director Emiko Higashi sold 10,000 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $7,947,799.50. This trade represents a 16.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Necip Sayiner sold 5,000 shares of Rambus stock in a transaction that occurred 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 sale, the director directly 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.75% of the stock is currently owned by corporate insiders.

Rambus Stock Performance

Shares of RMBS opened at $85.76 on Monday. The firm 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 52 week low of $70.90 and a 52 week high of $174.10. The firm’s 50-day simple moving average is $103.19 and its 200 day simple moving average is $112.05.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings data 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 net margin of 31.69% and a return on equity of 17.89%. The firm had revenue of $207.39 million during the quarter, compared to the consensus estimate of $199.30 million. During the same period last year, the business posted $0.53 earnings per share. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, equities analysts forecast that Rambus, Inc. will post 2.52 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rambus in a research report on Friday, June 5th. Glj Research set a $165.00 target price on Rambus in a report on Tuesday, July 28th. Rosenblatt Securities restated a “buy” rating and issued a $165.00 price target on shares of Rambus in a research note on Tuesday, July 28th. Finally, Benchmark reaffirmed a “buy” rating on shares of Rambus in a report on Tuesday, July 28th. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $145.88.

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.