Rambus, Inc. $RMBS Shares Purchased by Gibbs Wealth Management

Gibbs Wealth Management increased its holdings in Rambus, Inc. (NASDAQ:RMBS) by 64.1% in the 1st quarter, HoldingsChannel reports. The fund owned 18,234 shares of the semiconductor company’s stock after purchasing an additional 7,121 shares during the quarter. Gibbs Wealth Management’s holdings in Rambus were worth $1,569,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Acumen Wealth Advisors LLC acquired a new stake in shares of Rambus during the 4th quarter worth about $25,000. Torren Management LLC acquired a new position in Rambus in the fourth quarter valued at about $26,000. Spire Wealth Management lifted its holdings in shares of Rambus by 199.0% in the 4th quarter. Spire Wealth Management now owns 302 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 201 shares during the last quarter. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Rambus during the 4th quarter worth approximately $28,000. Finally, IFP Advisors Inc boosted its position in shares of Rambus by 126.7% during the 3rd quarter. IFP Advisors Inc now owns 442 shares of the semiconductor company’s stock worth $47,000 after purchasing an additional 247 shares during the period. Institutional investors and hedge funds own 88.54% of the company’s stock.

Insiders Place Their Bets

In related news, Director Eric B. Stang sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $146.00, for a total value of $730,000.00. Following the completion of the transaction, the director directly owned 19,218 shares of the company’s stock, valued at $2,805,828. This 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 this hyperlink. Also, EVP Xianzhi Sean Fan sold 37,914 shares of the 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 transaction, the executive vice president 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 disclosure for this sale is available in the SEC filing. Insiders have sold 62,914 shares of company stock worth $9,724,775 in the last three months. 0.75% of the stock is owned by company insiders.

Rambus Price Performance

NASDAQ:RMBS opened at $103.19 on Friday. Rambus, Inc. has a 12 month low of $62.81 and a 12 month high of $174.10. The firm has a market capitalization of $11.16 billion, a PE ratio of 49.14 and a beta of 1.84. The business’s fifty day moving average price is $129.40 and its 200 day moving average price is $114.41.

Rambus (NASDAQ:RMBS) last released its quarterly earnings data on Monday, April 27th. The semiconductor company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.02. Rambus had a return on equity of 17.41% and a net margin of 31.90%.The business had revenue of $180.19 million during the quarter, compared to analysts’ expectations of $179.94 million. As a group, equities analysts anticipate that Rambus, Inc. will post 2.44 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on RMBS shares. Jefferies Financial Group boosted their target price on Rambus from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rambus in a research note on Friday, June 5th. Robert W. Baird downgraded Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price objective on the stock. in a report on Tuesday, April 28th. Wells Fargo & Company increased their target price on Rambus from $115.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Finally, Benchmark initiated coverage on Rambus in a research note on Wednesday, July 15th. They set a “buy” rating and a $165.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Rambus currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.75.

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.