Mirae Asset Global Investments Co. Ltd. Acquires 27,472 Shares of Rambus, Inc. $RMBS

Key Points

• Mirae Asset raised its Rambus stake by 21.2%, buying 27,472 shares to hold 157,148 shares (≈0.15% of the company) worth about $14.44 million, according to its latest 13F filing.
• Rambus shares recently rallied (opened $126.93) after reporting Q4 EPS of $0.68 (in line) and revenue of $190.24M (above estimates); the company has a market cap of ~$13.7B, a P/E of ~60, and a consensus analyst rating of Moderate Buy with an average target of $105.71.
• Insiders have been net sellers: the CFO and CEO each sold shares recently, with insiders offloading 58,151 shares worth about $5.85M in the last 90 days, leaving insiders owning roughly 0.75% of the stock.

Mirae Asset Global Investments Co. Ltd. lifted its position in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 21.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 157,148 shares of the semiconductor company's stock after acquiring an additional 27,472 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.15% of Rambus worth $14,440,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in RMBS. NewEdge Advisors LLC raised its position in shares of Rambus by 22,321.4% in the 1st quarter. NewEdge Advisors LLC now owns 9,417 shares of the semiconductor company's stock worth $488,000 after acquiring an additional 9,375 shares in the last quarter. Empowered Funds LLC raised its position in shares of Rambus by 34.1% in the 1st quarter. Empowered Funds LLC now owns 22,750 shares of the semiconductor company's stock worth $1,178,000 after acquiring an additional 5,783 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of 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 acquiring an additional 19,120 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of 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 approximately $102,000. Institutional investors own 88.54% of the company's stock.

Rambus Stock Up 5.7%

Rambus stock opened at $126.93 on Friday. The company has a market capitalization of $13.73 billion, a P/E ratio of 60.16 and a beta of 1.63. The stock's 50 day moving average is $98.28 and its 200 day moving average is $99.68. Rambus, Inc. has a twelve month low of $43.21 and a twelve month high of $135.75.

Rambus (NASDAQ:RMBS - Get Free Report) last posted its quarterly earnings results on Monday, February 2nd. The semiconductor company reported $0.68 earnings per share for the quarter, hitting the consensus estimate of $0.68. The company had revenue of $190.24 million for the quarter, compared to the consensus estimate of $188.21 million. Rambus had a return on equity of 17.69% and a net margin of 32.57%. As a group, equities analysts expect that Rambus, Inc. will post 1.89 EPS for the current year.

Analyst Ratings Changes

RMBS has been the subject of several research reports. Evercore decreased their target price on Rambus from $126.00 to $119.00 and set an "outperform" rating for the company in a research report on Tuesday, February 3rd. Susquehanna decreased their target price on Rambus from $100.00 to $90.00 and set a "neutral" rating for the company in a research report on Tuesday, February 3rd. Rosenblatt Securities reissued a "buy" rating and issued a $130.00 target price on shares of Rambus in a research report on Tuesday, February 3rd. Zacks Research raised Rambus to a "hold" rating in a research report on Monday, January 26th. Finally, Weiss Ratings lowered Rambus from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, March 10th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $105.71.

Insider Buying and Selling

In related news, CFO Desmond Lynch sold 4,273 shares of the company's stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $101.53, for a total value of $433,837.69. Following the sale, the chief financial officer owned 63,618 shares in the company, valued at $6,459,135.54. This represents a 6.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Luc Seraphin sold 5,426 shares of the company's stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $86.65, for a total value of $470,162.90. Following the completion of the sale, the chief executive officer owned 345,767 shares in the company, valued at $29,960,710.55. The trade was a 1.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 58,151 shares of company stock worth $5,848,885 in the last 90 days. Insiders own 0.75% of the company's stock.

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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