Diversify Wealth Management LLC Increases Position in Rambus, Inc. $RMBS

Key Points

• Diversify Wealth Management LLC increased its Rambus stake by 75.7% in the first quarter, bringing its holdings to 31,253 shares worth about $2.69 million.
• Several other institutional investors also changed positions in Rambus, and the stock is now 88.54% owned by hedge funds and other institutions.
• Rambus reported better-than-expected quarterly results with EPS of $0.63 versus $0.61 expected, while analysts currently rate the stock Moderate Buy with a consensus price target of $130.43.

Diversify Wealth Management LLC boosted its stake in shares of Rambus, Inc. (NASDAQ:RMBS - Free Report) by 75.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,253 shares of the semiconductor company's stock after acquiring an additional 13,470 shares during the quarter. Diversify Wealth Management LLC's holdings in Rambus were worth $2,689,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Acumen Wealth Advisors LLC purchased a new stake in Rambus in the 4th quarter valued at approximately $25,000. Torren Management LLC purchased a new position in shares of Rambus during the 4th quarter worth approximately $26,000. Spire Wealth Management raised its stake in shares of Rambus by 199.0% during the 4th quarter. Spire Wealth Management now owns 302 shares of the semiconductor company's stock worth $28,000 after buying an additional 201 shares in the last quarter. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Rambus in the 4th quarter valued at approximately $28,000. Finally, IFP Advisors Inc lifted its holdings in shares of Rambus by 126.7% in the 3rd quarter. IFP Advisors Inc now owns 442 shares of the semiconductor company's stock valued at $47,000 after buying an additional 247 shares during the period. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Rambus news, Director Necip Sayiner sold 5,000 shares of the company's stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $170.15, for a total value of $850,750.00. Following the completion of the transaction, the director owned 18,223 shares in the company, valued at $3,100,643.45. This represents a 21.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Xianzhi Sean Fan sold 37,914 shares of the company's stock in a transaction 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 of the company's stock, valued at $25,538,225.02. This trade represents a 18.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 65,886 shares of company stock valued at $10,171,466. 0.75% of the stock is owned by insiders.

Rambus Stock Performance

RMBS stock opened at $103.11 on Tuesday. The stock has a market capitalization of $11.15 billion, a P/E ratio of 49.10 and a beta of 1.84. Rambus, Inc. has a one year low of $61.16 and a one year high of $174.10. The company has a 50 day moving average price of $133.58 and a two-hundred day moving average price of $113.91.

Rambus (NASDAQ:RMBS - Get Free Report) last announced its quarterly earnings data 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 analyst estimates of $179.94 million. Rambus had a net margin of 31.90% and a return on equity of 17.41%. Research analysts forecast that Rambus, Inc. will post 2.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on RMBS shares. Evercore restated an "outperform" rating and set a $172.00 target price on shares of Rambus in a research report on Tuesday, April 28th. Wells Fargo & Company increased their price target on shares of Rambus from $115.00 to $145.00 and gave the company an "overweight" rating in a report on Tuesday, April 28th. Jefferies Financial Group raised their price objective on shares of Rambus from $120.00 to $145.00 and gave the company a "buy" rating in a research note on Tuesday, April 28th. Rosenblatt Securities boosted their price objective on shares of Rambus from $130.00 to $150.00 and gave the stock a "buy" rating in a report on Tuesday, April 28th. Finally, Weiss Ratings restated 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, five have given a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $130.43.

About Rambus

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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