Rambus Inc. (NASDAQ:RMBS) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. grew its holdings in shares of Rambus Inc. (NASDAQ:RMBSGet Rating) by 4.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 760,815 shares of the semiconductor company’s stock after purchasing an additional 30,038 shares during the period. Principal Financial Group Inc.’s holdings in Rambus were worth $16,350,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of RMBS. CWM LLC increased its holdings in shares of Rambus by 268.3% during the second quarter. CWM LLC now owns 2,552 shares of the semiconductor company’s stock valued at $55,000 after purchasing an additional 1,859 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Rambus by 19.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,322 shares of the semiconductor company’s stock valued at $114,000 after purchasing an additional 885 shares during the period. Counterpoint Mutual Funds LLC increased its holdings in shares of Rambus by 190.7% during the second quarter. Counterpoint Mutual Funds LLC now owns 5,925 shares of the semiconductor company’s stock valued at $127,000 after purchasing an additional 3,887 shares during the period. New Century Advisors LLC boosted its stake in Rambus by 7.7% during the second quarter. New Century Advisors LLC now owns 8,354 shares of the semiconductor company’s stock valued at $180,000 after buying an additional 594 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in Rambus during the second quarter valued at about $201,000. 86.28% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Eric B. Stang sold 7,500 shares of the stock in a transaction dated Thursday, November 3rd. The stock was sold at an average price of $34.25, for a total value of $256,875.00. Following the completion of the sale, the director now directly owns 33,180 shares of the company’s stock, valued at approximately $1,136,415. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, COO Xianzhi Sean Fan sold 51,772 shares of the firm’s stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $38.51, for a total transaction of $1,993,739.72. Following the completion of the sale, the chief operating officer now directly owns 191,015 shares of the company’s stock, valued at approximately $7,355,987.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eric B. Stang sold 7,500 shares of the firm’s stock in a transaction dated Thursday, November 3rd. The stock was sold at an average price of $34.25, for a total value of $256,875.00. Following the sale, the director now directly owns 33,180 shares of the company’s stock, valued at $1,136,415. The disclosure for this sale can be found here. In the last ninety days, insiders sold 127,124 shares of company stock valued at $4,825,048. Corporate insiders own 1.53% of the company’s stock.

Rambus Stock Up 1.3 %

NASDAQ:RMBS opened at $37.75 on Thursday. The stock has a fifty day simple moving average of $30.12 and a 200 day simple moving average of $26.33. The firm has a market capitalization of $4.06 billion, a price-to-earnings ratio of -164.12 and a beta of 1.17. Rambus Inc. has a 1-year low of $20.00 and a 1-year high of $38.88.

Rambus (NASDAQ:RMBSGet Rating) last announced its quarterly earnings data on Monday, October 31st. The semiconductor company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.40). The business had revenue of $112.20 million during the quarter, compared to analysts’ expectations of $141.00 million. Rambus had a positive return on equity of 20.24% and a negative net margin of 5.69%. The firm’s revenue was up 38.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.29 earnings per share. Equities analysts predict that Rambus Inc. will post 1.52 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised their target price on Rambus from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Tuesday, November 1st. Susquehanna raised their target price on Rambus from $33.00 to $36.00 and gave the company a “positive” rating in a research note on Tuesday, November 1st. Rosenblatt Securities raised their target price on Rambus from $38.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, November 1st. StockNews.com assumed coverage on Rambus in a research report on Wednesday, October 12th. They issued a “buy” rating for the company. Finally, Susquehanna Bancshares increased their price target on Rambus from $33.00 to $36.00 and gave the company a “positive” rating in a research report on Tuesday, November 1st. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Rambus has an average rating of “Moderate Buy” and a consensus target price of $35.80.

Rambus Profile

(Get Rating)

Rambus Inc provides semiconductor products in the United States, Taiwan, South Korea, Japan, Europe, Canada, Singapore, China, and internationally. The company offers DDR memory interface chips, including DDR5, DDR4 and DDR3 memory interface chips to module manufacturers and OEMs; silicon IP comprising, interface and security IP solutions that move and protect data in advanced applications; and physical interface and digital controller IP to offer industry-leading, integrated memory and interconnect subsystems.

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Institutional Ownership by Quarter for Rambus (NASDAQ:RMBS)

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