Independent Financial Group LLC Purchases Shares of 6,525 Rambus, Inc. $RMBS

Independent Financial Group LLC purchased a new position in shares of Rambus, Inc. (NASDAQ:RMBS) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 6,525 shares of the semiconductor company’s stock, valued at approximately $561,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Acumen Wealth Advisors LLC acquired a new stake in shares of Rambus in the 4th quarter valued at approximately $25,000. Torren Management LLC bought a new position in shares of Rambus in the fourth quarter valued at $26,000. Spire Wealth Management increased its holdings in Rambus by 199.0% during the fourth quarter. Spire Wealth Management now owns 302 shares of the semiconductor company’s stock worth $28,000 after buying an additional 201 shares during the last quarter. University of Texas Texas AM Investment Management Co. acquired a new position in Rambus during the fourth quarter worth $28,000. Finally, IFP Advisors Inc raised its position in Rambus by 126.7% during the third quarter. IFP Advisors Inc now owns 442 shares of the semiconductor company’s stock worth $47,000 after acquiring an additional 247 shares in the last quarter. Institutional investors own 88.54% of the company’s stock.

Insider Activity 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 shares were sold at an average price of $160.50, for a total value of $1,605,000.00. Following the transaction, the director owned 49,519 shares in the company, valued at approximately $7,947,799.50. This represents a 16.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eric B. Stang sold 5,000 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $146.00, for a total transaction of $730,000.00. Following the completion of the transaction, the director directly owned 19,218 shares in the company, valued at approximately $2,805,828. This represents a 20.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 65,886 shares of company stock worth $10,171,466 in the last quarter. 0.75% of the stock is owned by corporate insiders.

Rambus Trading Down 1.9%

RMBS opened at $103.83 on Thursday. The stock’s fifty day simple moving average is $129.94 and its 200 day simple moving average is $114.38. Rambus, Inc. has a 1-year low of $62.81 and a 1-year high of $174.10. The stock has a market cap of $11.23 billion, a PE ratio of 49.44 and a beta of 1.84.

Rambus (NASDAQ:RMBS) last released its quarterly earnings data 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 firm had revenue of $180.19 million during the quarter, compared to analysts’ expectations of $179.94 million. Equities analysts forecast that Rambus, Inc. will post 2.44 earnings per share for the current year.

Analyst Ratings Changes

RMBS has been the subject of a number of recent analyst reports. Robert W. Baird cut shares of Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price target for the company. in a research note on Tuesday, April 28th. Evercore restated an “outperform” rating and set a $172.00 price objective on shares of Rambus in a research note on Tuesday, April 28th. Benchmark began coverage on shares of Rambus in a report on Wednesday, July 15th. They issued a “buy” rating and a $165.00 target price on the stock. Jefferies Financial Group raised their target price on shares of Rambus from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Finally, Rosenblatt Securities lifted their price target on Rambus from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $134.75.

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.