TimesSquare Capital Management LLC Invests $35.53 Million in Rambus, Inc. $RMBS

TimesSquare Capital Management LLC bought a new position in shares of Rambus, Inc. (NASDAQ:RMBS - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 267,705 shares of the semiconductor company's stock, valued at approximately $35,535,000. TimesSquare Capital Management LLC owned about 0.25% of Rambus as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Acumen Wealth Advisors LLC bought a new stake in Rambus in the 4th quarter valued at $25,000. Torren Management LLC bought a new position in shares of Rambus during the 4th quarter valued at about $26,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Rambus during the 4th quarter valued at about $28,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Rambus during the second quarter valued at about $41,000. Finally, Western Wealth Management LLC purchased a new position in shares of Rambus during the first quarter valued at about $44,000. Institutional investors own 88.54% of the company's stock.

Analyst Upgrades and Downgrades

RMBS has been the topic of a number of research analyst reports. Evercore reiterated an "outperform" rating and issued a $172.00 target price on shares of Rambus in a research report on Tuesday, April 28th. Wells Fargo & Company raised their price target on Rambus from $115.00 to $145.00 and gave the company an "overweight" rating in a report on Tuesday, April 28th. Jefferies Financial Group lifted their price objective on Rambus from $120.00 to $145.00 and gave the stock a "buy" rating in a research note on Tuesday, April 28th. Rosenblatt Securities reaffirmed a "buy" rating and set a $165.00 price objective on shares of Rambus in a report on Tuesday, July 28th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Rambus in a report on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $139.78.

Insider Buying and Selling

In other Rambus news, 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 transaction of $730,000.00. Following the sale, the director directly owned 19,218 shares in the company, valued at $2,805,828. This represents a 20.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Xianzhi Sean Fan sold 37,914 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $151.69, for a total value of $5,751,174.66. Following the completion of the sale, the executive vice president directly owned 168,358 shares of the company's stock, valued at $25,538,225.02. The trade was a 18.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 62,914 shares of company stock valued at $9,724,775. Insiders own 0.75% of the company's stock.

Rambus Stock Down 0.2%

Shares of NASDAQ:RMBS opened at $100.61 on Tuesday. The firm has a fifty day simple moving average of $112.23 and a two-hundred day simple moving average of $113.30. Rambus, Inc. has a 52 week low of $67.15 and a 52 week high of $174.10. The stock has a market capitalization of $10.91 billion, a P/E ratio of 46.15 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 net margin of 31.69% and a return on equity of 17.89%. The firm had revenue of $207.39 million for the quarter, compared to analysts' expectations of $199.30 million. During the same period in the prior year, the company earned $0.53 EPS. The business's revenue was up 20.4% compared to the same quarter last year. On average, analysts expect that Rambus, Inc. will post 2.52 earnings per share 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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