Deutsche Bank AG Takes Position in Rambus, Inc. $RMBS

Key Points

• Deutsche Bank initiated a position in Rambus during the second quarter, purchasing 23,567 shares valued at approximately $3.13 million. Institutional investors collectively own 88.54% of RMBS.
• Rambus reported quarterly earnings of $0.77 per share, exceeding estimates by $0.05, while revenue rose 20.4% year over year to $207.39 million. Analysts expect full-year EPS of $2.52.
• RMBS shares opened at $90.03, below their 50-day and 200-day moving averages, while analysts maintain a “Moderate Buy” consensus with an average price target of $139.78.

Deutsche Bank AG purchased a new position in Rambus, Inc. (NASDAQ:RMBS - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 23,567 shares of the semiconductor company's stock, valued at approximately $3,128,000.

A number of other institutional investors and hedge funds have also bought and sold shares of RMBS. Price T Rowe Associates Inc. MD raised its position in shares of Rambus by 2.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,385,570 shares of the semiconductor company's stock valued at $494,881,000 after buying an additional 140,226 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Rambus by 70.6% in the 4th quarter. Invesco Ltd. now owns 4,148,653 shares of the semiconductor company's stock valued at $381,220,000 after acquiring an additional 1,716,621 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Rambus by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 2,842,715 shares of the semiconductor company's stock valued at $261,256,000 after purchasing an additional 94,214 shares during the period. EdgePoint Investment Group Inc. boosted its position in Rambus by 38.5% during the 1st quarter. EdgePoint Investment Group Inc. now owns 1,947,742 shares of the semiconductor company's stock valued at $167,564,000 after buying an additional 541,056 shares during the period. Finally, Norges Bank purchased a new stake in shares of Rambus during the fourth quarter worth about $156,356,000. 88.54% of the stock is owned by hedge funds and other institutional investors.

Rambus Stock Performance

Shares of Rambus stock opened at $90.03 on Thursday. The stock's fifty day moving average is $105.30 and its 200 day moving average is $112.34. The stock has a market cap of $9.76 billion, a P/E ratio of 41.30 and a beta of 1.88. Rambus, Inc. has a one year low of $70.90 and a one year high of $174.10.

Rambus (NASDAQ:RMBS - Get Free Report) last posted its quarterly earnings results on Monday, July 27th. The semiconductor company reported $0.77 earnings per share for the quarter, topping analysts' consensus estimates of $0.72 by $0.05. Rambus had a net margin of 31.69% and a return on equity of 17.89%. The business had revenue of $207.39 million during the quarter, compared to analyst estimates of $199.30 million. During the same period in the prior year, the business posted $0.53 earnings per share. The company's revenue was up 20.4% on a year-over-year basis. Analysts predict that Rambus, Inc. will post 2.52 EPS for the current year.

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 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 sale, the director owned 49,519 shares in the company, valued at $7,947,799.50. The trade was a 16.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eric B. Stang sold 5,000 shares of the firm's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $146.00, for a total value of $730,000.00. Following the transaction, the director owned 19,218 shares of the company's stock, valued at approximately $2,805,828. The trade was a 20.65% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 20,000 shares of company stock worth $3,185,750. Insiders own 0.75% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on RMBS shares. Glj Research set a $165.00 price target on shares of Rambus in a report on Tuesday, July 28th. Benchmark reaffirmed a "buy" rating on shares of Rambus in a research report on Tuesday, July 28th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $165.00 target price on shares of Rambus in a report on Tuesday, July 28th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Rambus in a research report on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $139.78.

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.

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