New York Life Investment Management LLC Invests $921,000 in Rambus, Inc. $RMBS

New York Life Investment Management LLC acquired a new position in Rambus, Inc. (NASDAQ:RMBS) during the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 10,020 shares of the semiconductor company’s stock, valued at approximately $921,000.

Several other hedge funds also recently made changes to their positions in RMBS. NewEdge Advisors LLC grew its stake in shares of Rambus by 22,321.4% in the 1st quarter. NewEdge Advisors LLC now owns 9,417 shares of the semiconductor company’s stock worth $488,000 after purchasing an additional 9,375 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Rambus by 34.1% in the 1st quarter. Empowered Funds LLC now owns 22,750 shares of the semiconductor company’s stock worth $1,178,000 after purchasing an additional 5,783 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Rambus by 6.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 309,512 shares of the semiconductor company’s stock worth $16,025,000 after purchasing an additional 19,120 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Rambus in the 1st quarter worth approximately $218,000. Finally, Quantbot Technologies LP acquired a new position in shares of Rambus in the 2nd quarter worth approximately $102,000. Institutional investors and hedge funds own 88.54% of the company’s stock.

Rambus Price Performance

Rambus stock opened at $122.03 on Wednesday. The firm’s 50 day simple moving average is $110.02 and its 200-day simple moving average is $103.70. The company has a market cap of $13.20 billion, a P/E ratio of 58.11 and a beta of 1.79. Rambus, Inc. has a fifty-two week low of $52.12 and a fifty-two week high of $161.80.

Rambus (NASDAQ:RMBS) last released its earnings results on Monday, April 27th. The semiconductor company reported $0.63 earnings per share for the quarter, topping the consensus estimate 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%. On average, analysts expect that Rambus, Inc. will post 2.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

RMBS has been the topic of several recent research reports. Susquehanna lowered their price objective on shares of Rambus from $100.00 to $90.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 3rd. Rosenblatt Securities lifted their price objective on shares of Rambus from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Zacks Research raised shares of Rambus to a “hold” rating in a research report on Monday, January 26th. Robert W. Baird downgraded shares of Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 target price on the stock. in a research report on Tuesday, April 28th. Finally, William Blair started coverage on shares of Rambus in a research report on Thursday, January 22nd. They issued an “outperform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $130.43.

Insider Buying and Selling

In related news, CEO Luc Seraphin sold 5,426 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $86.65, for a total transaction of $470,162.90. Following the completion of the sale, the chief executive officer directly owned 345,767 shares in the company, valued at approximately $29,960,710.55. This trade represents a 1.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Desmond Lynch sold 4,273 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $101.53, for a total transaction of $433,837.69. Following the sale, the chief financial officer owned 63,618 shares of the company’s stock, valued at approximately $6,459,135.54. This represents a 6.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 61,123 shares of company stock worth $6,295,577. 0.75% of the stock is owned by company insiders.

Rambus Company 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.