Fisher Asset Management LLC Makes New $15.93 Million Investment in Rambus, Inc. $RMBS

Fisher Asset Management LLC acquired a new stake in Rambus, Inc. (NASDAQ:RMBS) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 152,882 shares of the semiconductor company’s stock, valued at approximately $15,930,000. Fisher Asset Management LLC owned approximately 0.14% of Rambus as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Steigerwald Gordon & Koch Inc. purchased a new position in Rambus in the 3rd quarter worth approximately $25,000. Abound Wealth Management purchased a new stake in Rambus during the 3rd quarter valued at approximately $28,000. True Wealth Design LLC raised its position in shares of Rambus by 162.5% during the second quarter. True Wealth Design LLC now owns 420 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 260 shares during the last quarter. Bessemer Group Inc. raised its position in shares of Rambus by 105.8% during the second quarter. Bessemer Group Inc. now owns 463 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 238 shares during the last quarter. Finally, Hantz Financial Services Inc. lifted its holdings in shares of Rambus by 1,386.0% in the second quarter. Hantz Financial Services Inc. now owns 639 shares of the semiconductor company’s stock worth $41,000 after buying an additional 596 shares in the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Stock Up 5.1%

Shares of NASDAQ:RMBS opened at $92.04 on Thursday. The firm has a fifty day simple moving average of $102.56 and a two-hundred day simple moving average of $97.03. Rambus, Inc. has a 52 week low of $40.12 and a 52 week high of $135.75. The stock has a market capitalization of $9.92 billion, a P/E ratio of 43.62 and a beta of 1.55.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings results on Monday, February 2nd. The semiconductor company reported $0.68 EPS for the quarter, meeting analysts’ consensus estimates of $0.68. The firm had revenue of $190.24 million during the quarter, compared to the consensus estimate of $188.21 million. Rambus had a net margin of 32.57% and a return on equity of 17.69%. On average, analysts expect that Rambus, Inc. will post 1.89 earnings per share for the current year.

Insider Activity at Rambus

In other Rambus news, CFO Desmond Lynch sold 4,273 shares of Rambus stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $101.53, for a total transaction of $433,837.69. Following the completion of the transaction, the chief financial officer directly owned 63,618 shares of the company’s stock, valued at $6,459,135.54. The trade was a 6.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Luc Seraphin sold 39,914 shares of the stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $98.63, for a total transaction of $3,936,717.82. Following the completion of the sale, the chief executive officer directly owned 331,070 shares in the company, valued at approximately $32,653,434.10. This represents a 10.76% decrease in their position. The SEC filing for this sale provides additional information. 1.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently weighed in on RMBS. Rosenblatt Securities reaffirmed a “buy” rating and set a $130.00 target price on shares of Rambus in a research note on Tuesday, February 3rd. Weiss Ratings raised shares of Rambus from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. William Blair began coverage on Rambus in a research report on Thursday, January 22nd. They set an “outperform” rating for the company. Susquehanna reduced their target price on Rambus from $100.00 to $90.00 and set a “neutral” rating on the stock in a report on Tuesday, February 3rd. Finally, Cfra lowered Rambus from a “hold” rating to a “moderate sell” rating in a research note on Monday, December 15th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $105.71.

Rambus Profile

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.