Van ECK Associates Corp Buys 39,148 Shares of Rambus, Inc. $RMBS

Van ECK Associates Corp grew its stake in shares of Rambus, Inc. (NASDAQ:RMBS) by 34.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 152,512 shares of the semiconductor company’s stock after purchasing an additional 39,148 shares during the period. Van ECK Associates Corp owned approximately 0.14% of Rambus worth $15,892,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Steigerwald Gordon & Koch Inc. bought a new position in Rambus in the third quarter worth approximately $25,000. Abound Wealth Management bought a new stake in shares of Rambus during the third quarter valued at approximately $28,000. CI Investments Inc. raised its position in shares of Rambus by 39.5% during the third quarter. CI Investments Inc. now owns 661 shares of the semiconductor company’s stock worth $69,000 after purchasing an additional 187 shares during the period. Covestor Ltd raised its position in shares of Rambus by 46.4% during the third quarter. Covestor Ltd now owns 675 shares of the semiconductor company’s stock worth $70,000 after purchasing an additional 214 shares during the period. Finally, Flagship Wealth Advisors LLC bought a new position in shares of Rambus in the 3rd quarter worth $73,000. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on RMBS. Rosenblatt Securities restated a “buy” rating and set a $130.00 price target on shares of Rambus in a research note on Tuesday, February 3rd. Susquehanna dropped their price objective on shares of Rambus from $100.00 to $90.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 3rd. Zacks Research upgraded shares of Rambus to a “hold” rating in a report on Monday, January 26th. William Blair started coverage on shares of Rambus in a research report on Thursday, January 22nd. They set an “outperform” rating for the company. Finally, Evercore dropped their price target on shares of Rambus from $126.00 to $119.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Rambus presently has an average rating of “Moderate Buy” and an average price target of $105.71.

Rambus Stock Performance

RMBS traded up $2.03 during midday trading on Friday, reaching $91.81. The company had a trading volume of 410,200 shares, compared to its average volume of 2,549,048. Rambus, Inc. has a 12-month low of $40.12 and a 12-month high of $135.75. The business has a 50-day moving average price of $102.16 and a two-hundred day moving average price of $97.61. The stock has a market cap of $9.93 billion, a PE ratio of 43.42 and a beta of 1.55.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings results on Monday, February 2nd. The semiconductor company reported $0.68 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.68. Rambus had a net margin of 32.57% and a return on equity of 17.69%. The company had revenue of $190.24 million during the quarter, compared to analyst estimates of $188.21 million. On average, research analysts anticipate that Rambus, Inc. will post 1.89 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Luc Seraphin sold 39,914 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $98.63, for a total transaction of $3,936,717.82. Following the completion of the transaction, the chief executive officer owned 331,070 shares in the company, valued at approximately $32,653,434.10. This represents a 10.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Desmond Lynch sold 4,273 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer owned 63,618 shares in the company, valued at $6,459,135.54. This represents a 6.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.00% of the company’s stock.

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.