Erste Asset Management GmbH Acquires Shares of 50,000 Rambus, Inc. $RMBS

Erste Asset Management GmbH purchased a new position in Rambus, Inc. (NASDAQ:RMBS) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 50,000 shares of the semiconductor company’s stock, valued at approximately $5,131,000.

Other institutional investors also recently bought and sold shares of the company. Steigerwald Gordon & Koch Inc. bought a new position in Rambus during the third quarter valued at $25,000. True Wealth Design LLC grew its holdings in Rambus by 162.5% during the 2nd quarter. True Wealth Design LLC now owns 420 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 260 shares during the last quarter. Abound Wealth Management purchased a new stake in Rambus in the 3rd quarter worth about $28,000. Bessemer Group Inc. lifted its stake in Rambus by 105.8% in the second quarter. Bessemer Group Inc. now owns 463 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 238 shares during the last quarter. Finally, Hantz Financial Services Inc. lifted its stake in Rambus by 1,386.0% in the second quarter. Hantz Financial Services Inc. now owns 639 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 596 shares during the last quarter. 88.54% of the stock is currently owned by institutional investors.

Insider Transactions at Rambus

In related news, CFO Desmond Lynch sold 4,273 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $101.53, for a total value of $433,837.69. Following the completion of the transaction, the chief financial officer owned 63,618 shares of the company’s stock, valued at $6,459,135.54. The trade was a 6.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $130.00 target price on shares of Rambus in a research note on Tuesday, February 3rd. William Blair began coverage on Rambus in a research report on Thursday, January 22nd. They issued an “outperform” rating on the stock. Weiss Ratings upgraded Rambus from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Zacks Research raised shares of Rambus to a “hold” rating in a research note on Monday, January 26th. Finally, Susquehanna cut their price target on shares of Rambus from $100.00 to $90.00 and set a “neutral” rating on the stock in a report on Tuesday, February 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $105.71.

Rambus Price Performance

NASDAQ:RMBS opened at $99.66 on Friday. Rambus, Inc. has a 1-year low of $40.12 and a 1-year high of $135.75. The company has a 50-day moving average of $102.66 and a 200 day moving average of $96.67. The firm has a market cap of $10.74 billion, a PE ratio of 47.23 and a beta of 1.53.

Rambus (NASDAQ:RMBS) last posted its earnings results on Monday, February 2nd. The semiconductor company reported $0.68 EPS for the quarter, meeting analysts’ consensus estimates of $0.68. Rambus had a net margin of 32.57% and a return on equity of 17.69%. The business had revenue of $190.24 million for the quarter, compared to the consensus estimate of $188.21 million. Sell-side analysts anticipate that Rambus, Inc. will post 1.89 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.