EFG International AG Makes New $5.99 Million Investment in Rambus, Inc. $RMBS

Key Points

• EFG International AG bought a new 45,149-share stake in Rambus valued at approximately $5.99 million during the second quarter. Institutional investors own 88.54% of the company’s stock.
• Analysts maintain a generally positive outlook, with Rambus receiving a “Moderate Buy” consensus rating and an average price target of $139.78. Recent targets range as high as $172.
• Rambus exceeded quarterly expectations, reporting $0.77 in EPS versus a $0.72 consensus estimate and revenue of $207.39 million, up 20.4% year over year. Shares opened at $89.86, while two directors sold a combined 15,000 shares in June.

EFG International AG bought a new stake in Rambus, Inc. (NASDAQ:RMBS - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 45,149 shares of the semiconductor company's stock, valued at approximately $5,987,000.

Several other institutional investors have also modified their holdings of RMBS. AMJ Financial Wealth Management lifted its position in Rambus by 252.0% in the 4th quarter. AMJ Financial Wealth Management now owns 94,946 shares of the semiconductor company's stock valued at $8,725,000 after acquiring an additional 67,973 shares in the last quarter. State of Wyoming bought a new position in Rambus during the 2nd quarter worth about $1,825,000. Handelsbanken Fonder AB raised its stake in shares of Rambus by 28.1% in the 2nd quarter. Handelsbanken Fonder AB now owns 150,857 shares of the semiconductor company's stock valued at $20,025,000 after purchasing an additional 33,060 shares during the period. California Public Employees Retirement System raised its stake in shares of Rambus by 15.8% in the 1st quarter. California Public Employees Retirement System now owns 227,271 shares of the semiconductor company's stock valued at $19,552,000 after purchasing an additional 31,064 shares during the period. Finally, BlackRock Inc. bought a new stake in shares of Rambus in the second quarter valued at about $1,853,645,000. Institutional investors own 88.54% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on RMBS shares. Benchmark reaffirmed a "buy" rating on shares of Rambus in a research report on Tuesday, July 28th. Wells Fargo & Company boosted their price target on shares of Rambus from $115.00 to $145.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 28th. Jefferies Financial Group upped their price objective on Rambus from $120.00 to $145.00 and gave the stock a "buy" rating in a research note on Tuesday, April 28th. Glj Research set a $165.00 price objective on shares of Rambus in a research report on Tuesday, July 28th. Finally, Evercore restated an "outperform" rating and set a $172.00 price objective on shares of Rambus in a research note on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $139.78.

Insider Buying and Selling

In related news, Director Emiko Higashi sold 10,000 shares of the company's stock in a transaction dated 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 transaction, the director owned 49,519 shares in the company, valued at approximately $7,947,799.50. This represents a 16.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eric B. Stang sold 5,000 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $146.00, for a total transaction of $730,000.00. Following the completion of the transaction, the director directly owned 19,218 shares in the company, valued at approximately $2,805,828. This represents a 20.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 20,000 shares of company stock valued at $3,185,750. Company insiders own 0.75% of the company's stock.

Rambus Price Performance

Shares of Rambus stock opened at $89.86 on Wednesday. The business has a fifty day simple moving average of $106.10 and a two-hundred day simple moving average of $112.40. Rambus, Inc. has a 1 year low of $70.90 and a 1 year high of $174.10. The company has a market capitalization of $9.75 billion, a price-to-earnings ratio of 41.22 and a beta of 1.88.

Rambus (NASDAQ:RMBS - Get Free Report) last released its quarterly earnings data on Monday, July 27th. The semiconductor company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.72 by $0.05. The firm had revenue of $207.39 million for the quarter, compared to the consensus estimate of $199.30 million. Rambus had a net margin of 31.69% and a return on equity of 17.89%. The company's quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.53 earnings per share. As a group, equities analysts anticipate that Rambus, Inc. will post 2.52 earnings per share for the current fiscal year.

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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