EdgePoint Investment Group Inc. Acquires 541,056 Shares of Rambus, Inc. $RMBS

EdgePoint Investment Group Inc. boosted its stake in shares of Rambus, Inc. (NASDAQ:RMBS) by 38.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,947,742 shares of the semiconductor company’s stock after buying an additional 541,056 shares during the period. Rambus makes up about 1.3% of EdgePoint Investment Group Inc.’s investment portfolio, making the stock its 20th largest holding. EdgePoint Investment Group Inc.’s holdings in Rambus were worth $167,564,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Acumen Wealth Advisors LLC purchased a new position in Rambus in the 4th quarter worth about $25,000. Torren Management LLC bought a new stake in shares of Rambus in the fourth quarter worth approximately $26,000. Spire Wealth Management lifted its position in Rambus by 199.0% during the fourth quarter. Spire Wealth Management now owns 302 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 201 shares during the period. University of Texas Texas AM Investment Management Co. bought a new position in Rambus during the fourth quarter valued at approximately $28,000. Finally, IFP Advisors Inc boosted its holdings in Rambus by 126.7% in the third 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 last quarter. Institutional investors own 88.54% of the company’s stock.

Insider Activity

In other news, EVP Xianzhi Sean Fan sold 37,914 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $151.69, for a total value of $5,751,174.66. Following the completion of the sale, the executive vice president directly owned 168,358 shares of the company’s stock, valued at $25,538,225.02. This represents a 18.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Necip Sayiner sold 5,000 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $170.15, for a total transaction of $850,750.00. Following the sale, the director owned 18,223 shares in the company, valued at $3,100,643.45. The trade was a 21.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 62,914 shares of company stock valued at $9,724,775. Company insiders own 0.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on RMBS. Wells Fargo & Company upped their price objective on Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Benchmark started coverage on shares of Rambus in a research note on Wednesday, July 15th. They issued a “buy” rating and a $165.00 price objective on the stock. Robert W. Baird downgraded shares of 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. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rambus in a report on Friday, June 5th. Finally, Evercore reiterated an “outperform” rating and issued a $172.00 price target on shares of Rambus in a research report on Tuesday, April 28th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $134.75.

Rambus Stock Up 0.4%

RMBS stock opened at $96.42 on Tuesday. The business’s 50-day moving average price is $128.23 and its 200-day moving average price is $114.40. The stock has a market cap of $10.43 billion, a P/E ratio of 45.91 and a beta of 1.84. Rambus, Inc. has a twelve month low of $63.30 and a twelve month high of $174.10.

Rambus (NASDAQ:RMBS) last released its earnings results 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 net margin of 31.90% and a return on equity of 17.41%. The company had revenue of $180.19 million during the quarter, compared to analyst estimates of $179.94 million. On average, equities research analysts expect that Rambus, Inc. will post 2.44 earnings per share for the current fiscal year.

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.