E Fund Management Co. Ltd. Acquires Shares of 11,596 Rambus, Inc. $RMBS

E Fund Management Co. Ltd. bought a new stake in Rambus, Inc. (NASDAQ:RMBS) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 11,596 shares of the semiconductor company’s stock, valued at approximately $1,539,000.

Several other large investors have also made changes to their positions in RMBS. M&T Bank Corp increased its holdings in shares of Rambus by 2,372.0% during the fourth quarter. M&T Bank Corp now owns 122,636 shares of the semiconductor company’s stock worth $11,269,000 after buying an additional 117,675 shares in the last quarter. AMJ Financial Wealth Management increased its holdings in Rambus by 252.0% during the 4th quarter. AMJ Financial Wealth Management now owns 94,946 shares of the semiconductor company’s stock valued at $8,725,000 after purchasing an additional 67,973 shares in the last quarter. Novem Group acquired a new stake in Rambus during the 4th quarter valued at $885,000. Universal Beteiligungs und Servicegesellschaft mbH raised its position in Rambus by 162.6% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 137,692 shares of the semiconductor company’s stock valued at $12,721,000 after purchasing an additional 85,257 shares during the last quarter. Finally, State of Wyoming bought a new position in Rambus in the 2nd quarter valued at $1,825,000. Institutional investors own 88.54% of the company’s stock.

Insider Buying and Selling at Rambus

In related news, Director Emiko Higashi sold 10,000 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was 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 owned 49,519 shares in the company, valued at approximately $7,947,799.50. This represents a 16.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Eric B. Stang sold 5,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $2,805,828. This trade represents a 20.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 62,914 shares of company stock worth $9,724,775 over the last quarter. 0.75% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on RMBS shares. Wells Fargo & Company raised their target price on Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Jefferies Financial Group boosted their target price on shares of Rambus from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Glj Research set a $165.00 target price on shares of Rambus in a research report on Tuesday, July 28th. Robert W. Baird cut shares of Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price target on the stock. in a research note on Tuesday, April 28th. Finally, Benchmark reissued a “buy” rating on shares of Rambus in a report on Tuesday, July 28th. One 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $139.78.

Rambus Stock Down 3.1%

Shares of RMBS stock opened at $90.85 on Thursday. The firm has a market cap of $9.85 billion, a price-to-earnings ratio of 41.67 and a beta of 1.88. Rambus, Inc. has a 12 month low of $67.15 and a 12 month high of $174.10. The stock has a 50-day moving average price of $110.23 and a 200 day moving average price of $112.87.

Rambus (NASDAQ:RMBS) last released its earnings results on Monday, July 27th. The semiconductor company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.05. Rambus had a net margin of 31.69% and a return on equity of 17.89%. The company had revenue of $207.39 million for the quarter, compared to the consensus estimate of $199.30 million. During the same period in the prior year, the company posted $0.53 EPS. The company’s revenue was up 20.4% compared to the same quarter last year. Sell-side analysts predict that Rambus, Inc. will post 2.52 earnings per share for the current fiscal year.

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.