Meiji Yasuda Asset Management Co Ltd. Makes New Investment in Rambus, Inc. $RMBS

Meiji Yasuda Asset Management Co Ltd. purchased a new position in Rambus, Inc. (NASDAQ:RMBS) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 38,759 shares of the semiconductor company’s stock, valued at approximately $5,145,000.

Several other institutional investors and hedge funds have also made changes to their positions in RMBS. NewEdge Advisors LLC grew its holdings in shares of Rambus by 22,321.4% during the first quarter. NewEdge Advisors LLC now owns 9,417 shares of the semiconductor company’s stock valued at $488,000 after buying an additional 9,375 shares during the last quarter. Empowered Funds LLC raised its stake in Rambus by 34.1% in the 1st quarter. Empowered Funds LLC now owns 22,750 shares of the semiconductor company’s stock worth $1,178,000 after acquiring an additional 5,783 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Rambus by 6.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 309,512 shares of the semiconductor company’s stock worth $16,025,000 after acquiring an additional 19,120 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Rambus during the 1st quarter worth about $218,000. Finally, Quantbot Technologies LP purchased a new stake in Rambus during the 2nd quarter valued at about $102,000. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Necip Sayiner sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $170.15, for a total transaction of $850,750.00. Following the completion of the transaction, the director directly owned 18,223 shares of the company’s stock, valued at $3,100,643.45. This represents a 21.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Eric B. Stang sold 5,000 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were 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 $2,805,828. This trade represents a 20.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 62,914 shares of company stock worth $9,724,775. Company insiders own 0.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RMBS. Weiss Ratings restated a “hold (c+)” rating on shares of Rambus in a research note on Friday, June 5th. Glj Research set a $165.00 target price on Rambus in a research report on Tuesday, July 28th. Robert W. Baird lowered shares of Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price target for the company. in a research report on Tuesday, April 28th. Jefferies Financial Group upped their price objective on shares of Rambus from $120.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $165.00 target price on shares of Rambus in a report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.78.

Rambus Price Performance

NASDAQ:RMBS opened at $91.24 on Monday. The company has a 50 day moving average price of $108.07 and a 200-day moving average price of $112.56. The firm has a market cap of $9.90 billion, a price-to-earnings ratio of 41.85 and a beta of 1.88. Rambus, Inc. has a 1-year low of $70.45 and a 1-year high of $174.10.

Rambus (NASDAQ:RMBS) last posted 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 net margin of 31.69% and a return on equity of 17.89%. The business had revenue of $207.39 million for the quarter, compared to analyst estimates of $199.30 million. During the same period in the prior year, the company posted $0.53 EPS. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, sell-side analysts anticipate that Rambus, Inc. will post 2.52 earnings per share 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.