Legal & General Group Plc Invests $20.39 Million in Rambus, Inc. $RMBS

Legal & General Group Plc purchased a new stake in shares of Rambus, Inc. (NASDAQ:RMBS) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 153,857 shares of the semiconductor company’s stock, valued at approximately $20,392,000. Legal & General Group Plc owned approximately 0.14% of Rambus at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Danske Bank A S purchased a new stake in Rambus in the 2nd quarter worth about $27,000. Acumen Wealth Advisors LLC purchased a new position in Rambus during the 4th quarter valued at about $25,000. Torren Management LLC purchased a new position in Rambus during the 4th quarter valued at about $26,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Rambus in the 2nd quarter valued at about $41,000. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in shares of Rambus in the 4th quarter valued at about $28,000. 88.54% of the stock is owned by institutional investors and hedge funds.

Rambus Price Performance

RMBS opened at $85.76 on Friday. The company has a market capitalization of $9.30 billion, a PE ratio of 39.34 and a beta of 1.88. Rambus, Inc. has a fifty-two week low of $70.90 and a fifty-two week high of $174.10. The business has a 50-day moving average of $103.19 and a 200-day moving average of $112.04.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings results on Monday, July 27th. The semiconductor company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.72 by $0.05. Rambus had a return on equity of 17.89% and a net margin of 31.69%.The business had revenue of $207.39 million during the quarter, compared to analysts’ expectations of $199.30 million. During the same quarter in the previous year, the business posted $0.53 EPS. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. On average, equities research analysts expect that Rambus, Inc. will post 2.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Rambus

In other Rambus news, Director Emiko Higashi sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $160.50, for a total value of $1,605,000.00. Following the completion of the sale, the director directly owned 49,519 shares of the company’s stock, valued at $7,947,799.50. The trade was a 16.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Eric B. Stang sold 5,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $146.00, for a total transaction of $730,000.00. Following the transaction, the director owned 19,218 shares in the company, valued at approximately $2,805,828. This trade represents a 20.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 20,000 shares of company stock worth $3,185,750 over the last ninety days. 0.75% of the stock is currently owned by 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.