State of Wyoming Makes New Investment in Rambus, Inc. $RMBS

Key Points

• Wyoming purchased a new Rambus position of 13,749 shares valued at approximately $1.825 million during the second quarter. Institutional investors and hedge funds collectively own 88.54% of RMBS.
• Rambus insiders sold 62,914 shares worth roughly $9.7 million over the last quarter, including sales by EVP Xianzhi Sean Fan and Director Eric B. Stang.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of $139.78, although targets and ratings range from $120 to $165.

State of Wyoming purchased a new position in shares of Rambus, Inc. (NASDAQ:RMBS - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 13,749 shares of the semiconductor company's stock, valued at approximately $1,825,000.

Several other institutional investors and hedge funds also recently made changes to their positions in RMBS. Price T Rowe Associates Inc. MD increased its position in shares of Rambus by 2.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,385,570 shares of the semiconductor company's stock valued at $494,881,000 after buying an additional 140,226 shares in the last quarter. Invesco Ltd. lifted its holdings in Rambus by 70.6% during the fourth quarter. Invesco Ltd. now owns 4,148,653 shares of the semiconductor company's stock worth $381,220,000 after acquiring an additional 1,716,621 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Rambus by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 2,842,715 shares of the semiconductor company's stock worth $261,256,000 after acquiring an additional 94,214 shares in the last quarter. EdgePoint Investment Group Inc. grew its stake in Rambus by 38.5% in the first quarter. EdgePoint Investment Group Inc. now owns 1,947,742 shares of the semiconductor company's stock valued at $167,564,000 after acquiring an additional 541,056 shares during the period. Finally, Norges Bank acquired a new position in Rambus in the fourth quarter valued at about $156,356,000. Institutional investors and hedge funds own 88.54% of the company's stock.

Insider Transactions at Rambus

In other Rambus news, EVP Xianzhi Sean Fan sold 37,914 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $151.69, for a total value of $5,751,174.66. Following the sale, the executive vice president owned 168,358 shares in the company, valued at approximately $25,538,225.02. The trade was a 18.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Eric B. Stang sold 5,000 shares of the company's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $146.00, for a total value of $730,000.00. Following the transaction, the director directly owned 19,218 shares of the company's stock, valued at approximately $2,805,828. This trade represents a 20.65% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 62,914 shares of company stock worth $9,724,775. 0.75% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Weiss Ratings restated a "hold (c+)" rating on shares of Rambus in a report on Friday, June 5th. Glj Research set a $165.00 price objective on Rambus in a report on Tuesday, July 28th. Robert W. Baird lowered Rambus from an "outperform" rating to a "neutral" rating and set a $120.00 price objective for the company. in a research report on Tuesday, April 28th. Benchmark reissued a "buy" rating on shares of Rambus in a research note on Tuesday, July 28th. Finally, Rosenblatt Securities restated a "buy" rating and set a $165.00 target price on shares of Rambus in a report on Tuesday, July 28th. One investment 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.com, the company has a consensus rating of "Moderate Buy" and an average target price of $139.78.

Rambus Stock Performance

NASDAQ:RMBS opened at $100.85 on Friday. The company has a market cap of $10.94 billion, a PE ratio of 46.26 and a beta of 1.88. Rambus, Inc. has a 52-week low of $67.15 and a 52-week high of $174.10. The stock has a 50-day simple moving average of $113.26 and a 200 day simple moving average of $113.41.

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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