Man Group plc Makes New Investment in Rambus, Inc. $RMBS

Man Group plc bought a new position in shares of Rambus, Inc. (NASDAQ:RMBS) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 38,613 shares of the semiconductor company’s stock, valued at approximately $5,125,000.

Other large investors have also made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Rambus during the 2nd quarter valued at $1,853,645,000. Invesco Ltd. grew its stake in shares of Rambus by 70.6% during the fourth quarter. Invesco Ltd. now owns 4,148,653 shares of the semiconductor company’s stock worth $381,220,000 after purchasing an additional 1,716,621 shares during the period. Norges Bank acquired a new stake in shares of Rambus during the fourth quarter worth $156,356,000. Bank of America Corp DE increased its holdings in Rambus by 196.0% in the third quarter. Bank of America Corp DE now owns 1,550,665 shares of the semiconductor company’s stock valued at $161,579,000 after purchasing an additional 1,026,776 shares during the last quarter. Finally, Bessemer Group Inc. increased its holdings in Rambus by 1,009.5% in the first quarter. Bessemer Group Inc. now owns 1,039,905 shares of the semiconductor company’s stock valued at $89,463,000 after purchasing an additional 946,177 shares during the last quarter. Institutional investors and hedge funds own 88.54% of the company’s stock.

Insider Activity

In other Rambus news, Director Emiko Higashi sold 10,000 shares of the firm’s 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 transaction, the director directly owned 49,519 shares in the company, valued at $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 is available through this link. Also, Director Necip Sayiner sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $170.15, for a total value of $850,750.00. Following the transaction, the director directly owned 18,223 shares in the company, valued at $3,100,643.45. This trade represents a 21.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.75% of the company’s stock.

Rambus Stock Performance

Shares of RMBS stock opened at $85.76 on Monday. The firm’s fifty day moving average price is $103.19 and its two-hundred day moving average price is $112.05. Rambus, Inc. has a 1 year low of $70.90 and a 1 year high of $174.10. The firm has a market capitalization of $9.30 billion, a P/E ratio of 39.34 and a beta of 1.88.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings data on Monday, July 27th. The semiconductor company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.05. The company had revenue of $207.39 million during the quarter, compared to the consensus estimate of $199.30 million. Rambus had a net margin of 31.69% and a return on equity of 17.89%. The company’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.53 EPS. As a group, equities research analysts forecast that Rambus, Inc. will post 2.52 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on RMBS shares. Rosenblatt Securities reiterated a “buy” rating and issued a $165.00 target price on shares of Rambus in a report on Tuesday, July 28th. Glj Research set a $165.00 price target on shares of Rambus in a report on Tuesday, July 28th. Benchmark restated a “buy” rating on shares of Rambus in a research report on Tuesday, July 28th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rambus in a research note on Friday, June 5th. Six research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Rambus currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.88.

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.