New York Life Investment Management LLC Invests $921,000 in Rambus, Inc. $RMBS

New York Life Investment Management LLC purchased a new position in Rambus, Inc. (NASDAQ:RMBS) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 10,020 shares of the semiconductor company’s stock, valued at approximately $921,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Hussman Strategic Advisors Inc. bought a new stake in Rambus in the 3rd quarter valued at about $1,094,000. Baader Bank Aktiengesellschaft bought a new stake in Rambus in the 3rd quarter valued at about $1,149,000. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in Rambus by 57.0% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 52,435 shares of the semiconductor company’s stock valued at $5,464,000 after purchasing an additional 19,046 shares during the last quarter. M&T Bank Corp lifted its position in Rambus by 2,372.0% in the 4th quarter. M&T Bank Corp now owns 122,636 shares of the semiconductor company’s stock valued at $11,269,000 after purchasing an additional 117,675 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Rambus by 1,320.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 129,676 shares of the semiconductor company’s stock valued at $13,512,000 after purchasing an additional 120,549 shares during the last quarter. 88.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on RMBS. Jefferies Financial Group lifted their price objective on shares of Rambus from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Susquehanna cut their price objective on shares of Rambus from $100.00 to $90.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 3rd. Rosenblatt Securities lifted their price objective on shares of Rambus from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Zacks Research upgraded shares of Rambus to a “hold” rating in a research report on Monday, January 26th. Finally, Weiss Ratings downgraded shares of Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, March 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $130.43.

Rambus Trading Down 1.4%

RMBS stock opened at $122.03 on Wednesday. Rambus, Inc. has a 52 week low of $52.12 and a 52 week high of $161.80. The company has a market capitalization of $13.20 billion, a price-to-earnings ratio of 58.11 and a beta of 1.79. The firm’s 50-day moving average is $110.02 and its two-hundred day moving average is $103.70.

Rambus (NASDAQ:RMBS) last released its quarterly earnings results on Monday, April 27th. The semiconductor company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. Rambus had a net margin of 31.90% and a return on equity of 17.41%. The company had revenue of $180.19 million for the quarter, compared to the consensus estimate of $179.94 million. On average, equities research analysts predict that Rambus, Inc. will post 2.44 earnings per share for the current year.

Insiders Place Their Bets

In other Rambus news, 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 transaction of $433,837.69. Following the sale, the chief financial officer directly owned 63,618 shares in the company, valued at approximately $6,459,135.54. The trade was a 6.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Meera Rao sold 2,972 shares of the business’s stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $150.30, for a total transaction of $446,691.60. Following the sale, the director owned 19,974 shares in the company, valued at $3,002,092.20. This trade represents a 12.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 61,123 shares of company stock worth $6,295,577. 0.75% of the stock is owned by corporate insiders.

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.