Future Fund LLC Makes New Investment in Rambus, Inc. $RMBS

Key Points

• Future Fund LLC opened a new position in Rambus during the first quarter, buying 34,386 shares valued at about $2.96 million.
• Institutional interest in Rambus remains strong, with hedge funds and other investors holding 88.54% of the company’s stock. Several firms increased their stakes significantly, including Bessemer Group, which boosted its position by more than 1,000%.
• Rambus reported solid quarterly results, beating EPS estimates with $0.63 per share on revenue of $180.19 million. Analyst sentiment is mixed but generally positive, with a consensus rating of Moderate Buy and an average price target of $134.75.

Future Fund LLC bought a new position in Rambus, Inc. (NASDAQ:RMBS - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 34,386 shares of the semiconductor company's stock, valued at approximately $2,958,000.

Several other institutional investors and hedge funds also recently made changes to their positions in RMBS. Assetmark Inc. lifted its position in shares of Rambus by 33.2% during the first quarter. Assetmark Inc. now owns 147,554 shares of the semiconductor company's stock valued at $12,694,000 after purchasing an additional 36,800 shares in the last quarter. Bessemer Group Inc. grew its position in Rambus by 1,009.5% in the 1st quarter. Bessemer Group Inc. now owns 1,039,905 shares of the semiconductor company's stock worth $89,463,000 after purchasing an additional 946,177 shares in the last quarter. Independent Financial Group LLC purchased a new stake in Rambus in the 1st quarter valued at about $561,000. Illinois Municipal Retirement Fund increased its stake in Rambus by 12.2% in the 1st quarter. Illinois Municipal Retirement Fund now owns 27,314 shares of the semiconductor company's stock valued at $2,350,000 after buying an additional 2,974 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in shares of Rambus by 22.6% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 9,346 shares of the semiconductor company's stock worth $804,000 after buying an additional 1,721 shares in the last quarter. Hedge funds and other institutional investors own 88.54% of the company's stock.

Insider Buying and Selling at Rambus

In other Rambus news, Director Necip Sayiner sold 5,000 shares of the firm's stock in a transaction 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 sale, the director directly owned 18,223 shares of the company's stock, valued at $3,100,643.45. This trade represents a 21.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Eric B. Stang sold 5,000 shares of the business's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $146.00, for a total value of $730,000.00. Following the completion of the sale, the director owned 19,218 shares in the company, valued at approximately $2,805,828. The trade was a 20.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 65,886 shares of company stock valued at $10,171,466 in the last quarter. Insiders own 0.75% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on RMBS. Rosenblatt Securities boosted their target price on Rambus from $130.00 to $150.00 and gave the stock a "buy" rating in a research note on Tuesday, April 28th. Robert W. Baird downgraded Rambus from an "outperform" rating to a "neutral" rating and set a $120.00 price target for the company. in a research report on Tuesday, April 28th. Evercore reiterated an "outperform" rating and set a $172.00 price target on shares of Rambus in a report on Tuesday, April 28th. Wells Fargo & Company boosted their price objective on Rambus from $115.00 to $145.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 28th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Rambus in a research note on Friday, June 5th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $134.75.

Rambus Stock Up 0.0%

RMBS opened at $101.44 on Friday. The stock has a market cap of $10.97 billion, a price-to-earnings ratio of 48.30 and a beta of 1.84. Rambus, Inc. has a twelve month low of $62.81 and a twelve month high of $174.10. The company's 50-day moving average price is $131.72 and its two-hundred day moving average price is $114.01.

Rambus (NASDAQ:RMBS - Get Free Report) last issued its quarterly 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. The company had revenue of $180.19 million during 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%. As a group, sell-side analysts anticipate that Rambus, Inc. will post 2.44 earnings per share for the current year.

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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