Ranger Investment Management L.P. Makes New Investment in Rambus, Inc. $RMBS

Key Points

• Ranger Investment Management acquired 176,692 Rambus shares worth approximately $23.5 million, making the semiconductor company 1.5% of its portfolio and its 23rd-largest holding. Institutional investors collectively own 88.54% of RMBS.
• Rambus insiders sold 62,914 shares worth $9.7 million over the past three months, including sales by directors Emiko Higashi and Eric B. Stang.
• Rambus reported quarterly EPS of $0.77 versus the $0.72 consensus estimate, while revenue rose 20.4% year over year to $207.39 million. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $139.78, compared with the stock’s $91.24 opening price.

Ranger Investment Management L.P. bought a new stake in shares of Rambus, Inc. (NASDAQ:RMBS - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 176,692 shares of the semiconductor company's stock, valued at approximately $23,454,000. Rambus makes up approximately 1.5% of Ranger Investment Management L.P.'s portfolio, making the stock its 23rd largest position. Ranger Investment Management L.P. owned 0.16% of Rambus at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of RMBS. Danske Bank A S purchased a new position in Rambus during the 2nd quarter valued at approximately $27,000. Acumen Wealth Advisors LLC purchased a new stake in shares of Rambus during the 4th quarter worth approximately $25,000. Torren Management LLC purchased a new stake in shares of Rambus during the 4th quarter worth approximately $26,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Rambus during the 2nd quarter valued at approximately $41,000. Finally, University of Texas Texas AM Investment Management Co. purchased a new position in shares of Rambus in the fourth quarter valued at $28,000. 88.54% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Rambus

In related news, Director Emiko Higashi sold 10,000 shares of the business's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $160.50, for a total transaction of $1,605,000.00. Following the completion of the transaction, the director directly owned 49,519 shares in the company, valued at $7,947,799.50. The trade was a 16.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Eric B. Stang sold 5,000 shares of the company's stock in a transaction dated Monday, June 1st. The stock was 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 $2,805,828. The trade was a 20.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 62,914 shares of company stock worth $9,724,775. 0.75% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

RMBS has been the topic of a number of recent research reports. Wells Fargo & Company upped their price target on shares of Rambus from $115.00 to $145.00 and gave the company an "overweight" rating in a research note on Tuesday, April 28th. Glj Research set a $165.00 target price on shares of Rambus in a report on Tuesday, July 28th. Benchmark restated a "buy" rating on shares of Rambus in a research report on Tuesday, July 28th. Robert W. Baird cut shares of Rambus from an "outperform" rating to a "neutral" rating and set a $120.00 target price on the stock. in a research report on Tuesday, April 28th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $165.00 price target on shares of Rambus in a report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Rambus currently has an average rating of "Moderate Buy" and an average target price of $139.78.

Rambus Stock Performance

NASDAQ:RMBS opened at $91.24 on Monday. Rambus, Inc. has a fifty-two week low of $70.45 and a fifty-two week high of $174.10. The company's 50-day simple moving average is $108.07 and its 200-day simple moving average is $112.56. The stock has a market capitalization of $9.90 billion, a P/E ratio of 41.85 and a beta of 1.88.

Rambus (NASDAQ:RMBS - Get Free Report) last announced its earnings results on Monday, July 27th. The semiconductor company reported $0.77 earnings per share (EPS) for the quarter, beating 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 company had revenue of $207.39 million for the quarter, compared to analyst estimates of $199.30 million. During the same period in the prior year, the company posted $0.53 EPS. The firm's quarterly revenue was up 20.4% compared to the same quarter last year. On average, research analysts forecast that Rambus, Inc. will post 2.52 EPS 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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