Goldman Sachs Group Inc. Boosts Stock Holdings in Rambus, Inc. $RMBS

Goldman Sachs Group Inc. grew its holdings in Rambus, Inc. (NASDAQ:RMBS) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,194,391 shares of the semiconductor company’s stock after purchasing an additional 7,258 shares during the period. Goldman Sachs Group Inc. owned approximately 1.11% of Rambus worth $109,753,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Baader Bank Aktiengesellschaft bought a new stake in shares of Rambus in the third quarter valued at approximately $1,149,000. M&T Bank Corp raised its position in shares of Rambus by 2,372.0% in the fourth 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 period. CloudAlpha Capital Management Limited Hong Kong bought a new stake in shares of Rambus in the third quarter valued at approximately $17,276,000. TD Asset Management Inc raised its position in shares of Rambus by 463.6% in the third quarter. TD Asset Management Inc now owns 25,306 shares of the semiconductor company’s stock valued at $2,637,000 after purchasing an additional 20,816 shares during the period. Finally, William Blair Investment Management LLC bought a new stake in shares of Rambus in the third quarter valued at approximately $30,341,000. Institutional investors own 88.54% of the company’s stock.

Wall Street Analysts Forecast Growth

RMBS has been the subject of a number of analyst reports. Rosenblatt Securities raised their price objective 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. Weiss Ratings lowered shares of Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, March 10th. Robert W. Baird lowered shares of Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price objective for the company. in a research report on Tuesday, April 28th. Jefferies Financial Group raised their price objective on shares of Rambus from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Finally, Evercore restated an “outperform” rating and issued a $172.00 price objective on shares of Rambus in a research report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $130.43.

Rambus Trading Up 4.6%

RMBS stock opened at $152.03 on Tuesday. The firm has a 50 day moving average of $126.39 and a 200-day moving average of $108.55. The firm has a market capitalization of $16.44 billion, a P/E ratio of 72.40 and a beta of 1.84. Rambus, Inc. has a 12 month low of $57.98 and a 12 month high of $174.10.

Rambus (NASDAQ:RMBS) last announced its earnings results on Monday, April 27th. The semiconductor company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. The business 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%. Sell-side analysts predict that Rambus, Inc. will post 2.44 EPS for the current year.

Insiders Place Their Bets

In related news, Director Eric B. Stang sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $146.00, for a total value of $730,000.00. Following the sale, the director directly owned 19,218 shares of the company’s stock, valued at $2,805,828. This trade represents a 20.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Xianzhi Sean Fan sold 37,914 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $151.69, for a total transaction of $5,751,174.66. Following the completion of the sale, the executive vice president directly owned 168,358 shares in the company, valued at $25,538,225.02. This represents a 18.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 79,850 shares of company stock valued at $11,649,796 over the last three months. Corporate insiders own 0.75% of the company’s stock.

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.