Gibbs Wealth Management Boosts Stake in Rambus, Inc. $RMBS

Gibbs Wealth Management boosted its holdings in shares of Rambus, Inc. (NASDAQ:RMBS) by 64.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,234 shares of the semiconductor company’s stock after acquiring an additional 7,121 shares during the period. Gibbs Wealth Management’s holdings in Rambus were worth $1,569,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. M&T Bank Corp grew its stake in Rambus by 2,372.0% during 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. AMJ Financial Wealth Management lifted its holdings in Rambus by 252.0% in the fourth quarter. AMJ Financial Wealth Management now owns 94,946 shares of the semiconductor company’s stock valued at $8,725,000 after acquiring an additional 67,973 shares during the period. Novem Group acquired a new position in Rambus in the fourth quarter valued at approximately $885,000. Universal Beteiligungs und Servicegesellschaft mbH boosted 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 worth $12,721,000 after purchasing an additional 85,257 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Rambus by 21.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 157,148 shares of the semiconductor company’s stock worth $14,440,000 after purchasing an additional 27,472 shares during the period. 88.54% of the stock is owned by hedge funds and other institutional investors.

Rambus Stock Down 0.6%

RMBS stock opened at $103.19 on Friday. The stock has a market capitalization of $11.16 billion, a P/E ratio of 49.14 and a beta of 1.84. The firm has a 50-day simple moving average of $129.40 and a 200-day simple moving average of $114.41. Rambus, Inc. has a 52 week low of $62.81 and a 52 week high of $174.10.

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

Wall Street Analysts Forecast Growth

RMBS has been the subject of several recent research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rambus in a report on Friday, June 5th. Rosenblatt Securities raised their price target 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. Evercore reaffirmed an “outperform” rating and issued a $172.00 price objective on shares of Rambus in a report on Tuesday, April 28th. Benchmark started coverage on shares of Rambus in a research note on Wednesday, July 15th. They set a “buy” rating and a $165.00 target price on the stock. Finally, Robert W. Baird cut Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 target price on the stock. in a research report on Tuesday, April 28th. Two investment 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 stock. Based on data from MarketBeat.com, Rambus currently has a consensus rating of “Moderate Buy” and an average price target of $134.75.

Insider Buying and Selling

In related news, Director Emiko Higashi sold 10,000 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $7,947,799.50. This trade represents a 16.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eric B. Stang sold 5,000 shares of Rambus stock in a transaction that occurred on 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. The trade was a 20.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 62,914 shares of company stock valued at $9,724,775 over the last ninety days. 0.75% of the stock is currently owned by company 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.