Empirical Financial Services LLC d.b.a. Empirical Wealth Management Invests $590,000 in Rambus, Inc. $RMBS

Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of Rambus, Inc. (NASDAQ:RMBS) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 5,659 shares of the semiconductor company’s stock, valued at approximately $590,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of RMBS. Steigerwald Gordon & Koch Inc. purchased a new position in Rambus during the third quarter worth about $25,000. Abound Wealth Management acquired a new position in shares of Rambus in the 3rd quarter worth approximately $28,000. True Wealth Design LLC boosted its position in shares of Rambus by 162.5% during the 2nd quarter. True Wealth Design LLC now owns 420 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 260 shares during the period. Bessemer Group Inc. boosted its position in shares of Rambus by 105.8% during the 2nd quarter. Bessemer Group Inc. now owns 463 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 238 shares during the period. Finally, Hantz Financial Services Inc. increased its holdings in Rambus by 1,386.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 639 shares of the semiconductor company’s stock valued at $41,000 after purchasing an additional 596 shares during the last quarter. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Rambus Price Performance

RMBS opened at $95.27 on Tuesday. Rambus, Inc. has a 12 month low of $40.12 and a 12 month high of $135.75. The stock has a market capitalization of $10.27 billion, a price-to-earnings ratio of 45.15 and a beta of 1.53. The business has a fifty day moving average price of $102.09 and a 200 day moving average price of $96.09.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings results on Monday, February 2nd. The semiconductor company reported $0.68 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.68. Rambus had a return on equity of 17.69% and a net margin of 32.57%.The company had revenue of $190.24 million for 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.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on RMBS shares. Weiss Ratings cut Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, February 9th. Rosenblatt Securities reissued a “buy” rating and set a $130.00 target price on shares of Rambus in a research note on Tuesday, February 3rd. Susquehanna lowered their target price on Rambus from $100.00 to $90.00 and set a “neutral” rating for the company in a report on Tuesday, February 3rd. Jefferies Financial Group upgraded shares of Rambus to a “strong-buy” rating in a research note on Tuesday, October 28th. Finally, Wells Fargo & Company increased their price target on shares of Rambus from $73.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. 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. Based on data from MarketBeat, Rambus currently has an average rating of “Moderate Buy” and a consensus price target of $105.71.

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.