Global X Japan Co. Ltd. Invests $561,000 in Rambus, Inc. $RMBS

Global X Japan Co. Ltd. bought a new stake in shares of Rambus, Inc. (NASDAQ:RMBS) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,385 shares of the semiconductor company’s stock, valued at approximately $561,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Rambus during the 2nd quarter valued at $126,268,000. EdgePoint Investment Group Inc. increased its position in shares of Rambus by 138.4% during the second quarter. EdgePoint Investment Group Inc. now owns 2,787,327 shares of the semiconductor company’s stock valued at $178,445,000 after buying an additional 1,618,133 shares during the period. Assenagon Asset Management S.A. raised its stake in Rambus by 392.9% in the second quarter. Assenagon Asset Management S.A. now owns 881,562 shares of the semiconductor company’s stock worth $56,438,000 after buying an additional 702,704 shares in the last quarter. Park West Asset Management LLC bought a new position in Rambus in the first quarter worth about $30,503,000. Finally, Westwood Holdings Group Inc. lifted its holdings in Rambus by 41.0% in the second quarter. Westwood Holdings Group Inc. now owns 1,737,062 shares of the semiconductor company’s stock worth $111,207,000 after buying an additional 504,852 shares during the period. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on RMBS shares. Susquehanna set a $100.00 price target on Rambus and gave the stock a “neutral” rating in a research note on Monday, October 6th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $130.00 target price on shares of Rambus in a research report on Tuesday, October 28th. Robert W. Baird increased their price target on shares of Rambus from $90.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, September 15th. Wells Fargo & Company boosted their price objective on shares of Rambus from $73.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Finally, Weiss Ratings upgraded shares of Rambus from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $108.14.

Insider Buying and Selling

In related news, Director Eric B. Stang sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $102.35, for a total value of $511,750.00. Following the completion of the transaction, the director directly owned 24,394 shares in the company, valued at $2,496,725.90. The trade was a 17.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Meera Rao sold 653 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $101.99, for a total value of $66,599.47. Following the sale, the director owned 29,261 shares in the company, valued at approximately $2,984,329.39. This represents a 2.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 9,653 shares of company stock valued at $1,025,469. 1.00% of the stock is owned by company insiders.

Rambus Price Performance

RMBS opened at $94.13 on Thursday. The firm has a market cap of $10.13 billion, a PE ratio of 44.61 and a beta of 1.51. The stock has a 50-day moving average price of $98.73 and a 200-day moving average price of $84.38. Rambus, Inc. has a 1 year low of $40.12 and a 1 year high of $114.55.

Rambus (NASDAQ:RMBS) last released its quarterly earnings data on Monday, October 27th. The semiconductor company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.18). The firm had revenue of $178.51 million for the quarter, compared to the consensus estimate of $175.60 million. Rambus had a net margin of 33.72% and a return on equity of 17.73%. The firm’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.45 earnings per share. As a group, sell-side analysts anticipate that Rambus, Inc. will post 1.89 EPS for the current year.

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.