Great Lakes Advisors LLC Invests $1.98 Million in Rambus, Inc. $RMBS

Key Points

• Great Lakes Advisors initiated a $1.98 million position in Rambus during the second quarter, while institutional investors collectively own 88.54% of the company.
• Analyst sentiment remains positive but mixed, with Rambus carrying a “Moderate Buy” consensus rating and an average price target of $139.78; targets range from $120 to $172.
• Rambus reported quarterly EPS of $0.77 versus the $0.72 consensus and revenue of $207.39 million, up 20.4% year over year. However, the stock opened at $91.24, well below its 50-day and 200-day moving averages, while insiders have sold nearly $9.7 million in shares over the past 90 days.

Great Lakes Advisors LLC acquired a new position in Rambus, Inc. (NASDAQ:RMBS - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 14,884 shares of the semiconductor company's stock, valued at approximately $1,976,000.

Other large investors also recently added to or reduced their stakes in the company. NewEdge Advisors LLC increased its position in shares of Rambus by 22,321.4% in the first quarter. NewEdge Advisors LLC now owns 9,417 shares of the semiconductor company's stock worth $488,000 after purchasing an additional 9,375 shares during the last quarter. Empowered Funds LLC lifted its position in Rambus by 34.1% during the first quarter. Empowered Funds LLC now owns 22,750 shares of the semiconductor company's stock valued at $1,178,000 after purchasing an additional 5,783 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Rambus by 6.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 309,512 shares of the semiconductor company's stock worth $16,025,000 after buying an additional 19,120 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Rambus in the 1st quarter worth approximately $218,000. Finally, Quantbot Technologies LP bought a new position in shares of Rambus in the 2nd quarter worth $102,000. Institutional investors own 88.54% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on RMBS shares. Robert W. Baird cut shares of Rambus from an "outperform" rating to a "neutral" rating and set a $120.00 price objective on the stock. in a research report on Tuesday, April 28th. Evercore reiterated an "outperform" rating and set a $172.00 price objective on shares of Rambus in a research report on Tuesday, April 28th. Rosenblatt Securities reissued a "buy" rating and set a $165.00 price objective on shares of Rambus in a report on Tuesday, July 28th. Weiss Ratings reissued a "hold (c+)" rating on shares of Rambus in a report on Friday, June 5th. Finally, Glj Research set a $165.00 target price on Rambus in a research report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $139.78.

Rambus Stock Down 1.0%

NASDAQ RMBS opened at $91.24 on Friday. The company has a 50-day simple moving average of $108.07 and a two-hundred day simple moving average of $112.56. Rambus, Inc. has a 12-month low of $70.45 and a 12-month high of $174.10. The firm has a market cap of $9.90 billion, a price-to-earnings ratio of 41.85 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, topping 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 firm had revenue of $207.39 million for the quarter, compared to the consensus estimate of $199.30 million. During the same quarter in the previous year, the business earned $0.53 earnings per share. The company's quarterly revenue was up 20.4% on a year-over-year basis. Equities analysts expect that Rambus, Inc. will post 2.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Rambus news, Director Necip Sayiner sold 5,000 shares of Rambus 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 transaction, the director directly owned 18,223 shares of the company's stock, valued at $3,100,643.45. The trade was a 21.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 owned 49,519 shares of the company's stock, valued at $7,947,799.50. The trade was a 16.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 62,914 shares of company stock valued at $9,724,775 in the last 90 days. 0.75% of the stock is owned by insiders.

Rambus 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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