Norges Bank Buys New Shares in Rambus, Inc. $RMBS

Key Points

• Norges Bank disclosed a new position in Rambus, buying 1,701,551 shares valued at about $156.4 million and ending the period with 1.58% ownership.
• Rambus has seen heavy institutional interest, with 88.54% of shares owned by institutions and hedge funds, even as some smaller funds also added or initiated positions.
• Insider selling has been notable: directors Necip Sayiner and Emiko Higashi sold shares recently, and insiders sold 79,850 shares worth $11.65 million over the last three months.

Norges Bank bought a new stake in Rambus, Inc. (NASDAQ:RMBS - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,701,551 shares of the semiconductor company's stock, valued at approximately $156,356,000. Norges Bank owned 1.58% of Rambus at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in RMBS. Torren Management LLC acquired a new position in shares of Rambus in the 4th quarter valued at $26,000. Spire Wealth Management increased its position in shares of Rambus by 199.0% in the 4th quarter. Spire Wealth Management now owns 302 shares of the semiconductor company's stock valued at $28,000 after acquiring an additional 201 shares during the period. IFP Advisors Inc increased its position 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 acquiring an additional 247 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Rambus in the 4th quarter valued at $50,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Rambus by 83.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 777 shares of the semiconductor company's stock valued at $50,000 after acquiring an additional 353 shares during the period. 88.54% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Necip Sayiner sold 5,000 shares of the firm's stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $170.15, for a total transaction of $850,750.00. Following the sale, the director directly owned 18,223 shares in the company, valued at $3,100,643.45. This trade represents a 21.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Emiko Higashi sold 10,000 shares of the firm'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 sale, the director owned 49,519 shares in the company, valued at $7,947,799.50. This trade represents a 16.80% 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 sold 79,850 shares of company stock worth $11,649,796. 0.75% of the stock is currently owned by corporate insiders.

Rambus Stock Performance

Shares of RMBS opened at $170.66 on Thursday. The business's 50-day moving average is $122.66 and its two-hundred day moving average is $107.20. The company has a market capitalization of $18.46 billion, a P/E ratio of 81.27 and a beta of 1.84. Rambus, Inc. has a fifty-two week low of $56.08 and a fifty-two week high of $174.10.

Rambus (NASDAQ:RMBS - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $180.19 million for the quarter, compared to the consensus estimate of $179.94 million. Rambus had a return on equity of 17.41% and a net margin of 31.90%. Analysts forecast that Rambus, Inc. will post 2.44 EPS for the current year.

Wall Street Analysts Forecast Growth

RMBS has been the topic of several research reports. Jefferies Financial Group upped their target price on Rambus from $120.00 to $145.00 and gave the company a "buy" rating in a research report on Tuesday, April 28th. Wells Fargo & Company increased their price target on Rambus from $115.00 to $145.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 28th. Weiss Ratings downgraded Rambus from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, March 10th. Rosenblatt Securities increased their price target on Rambus from $130.00 to $150.00 and gave the stock a "buy" rating in a research report on Tuesday, April 28th. Finally, Evercore reaffirmed an "outperform" rating and set a $172.00 price target on shares of Rambus in a research report on Tuesday, April 28th. One 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 stock. Based on data from MarketBeat.com, Rambus presently has an average rating of "Moderate Buy" and a consensus price target of $130.43.

More Rambus News

Here are the key news stories impacting Rambus this week:

• Positive Sentiment: Investor enthusiasm remains supported by Rambus’ AI and data-center memory roadmap, including new product and IP announcements tied to next-generation AI infrastructure. Rambus shares jump as investors focus on AI-memory roadmap ahead of conference updates
• Positive Sentiment: The company recently beat quarterly EPS and revenue expectations, reinforcing the growth story behind the stock’s strong move higher. Rambus earnings and stock information
• Neutral Sentiment: A top-analyst rating update was published, but the details provided do not indicate a clear change in outlook. Rambus receives a rating update from a top analyst
• Negative Sentiment: Director Emiko Higashi sold 10,000 shares, adding to concerns that insiders are taking profits after the stock’s sharp run-up. SEC filing for Emiko Higashi sale
• Negative Sentiment: Director Necip Sayiner sold 5,000 shares, and additional reports showed other recent insider sales, reinforcing a pattern of insider selling at Rambus. SEC filing for Necip Sayiner sale
• Negative Sentiment: Another report highlighted that several Rambus insiders have been quietly cashing in with major stock sales, which may pressure shares despite the positive business narrative. Top Rambus Insiders Quietly Cash In With Major Stock Sales

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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