Rambus, Inc. $RMBS Shares Sold by Rice Hall James & Associates LLC

Rice Hall James & Associates LLC cut its holdings in Rambus, Inc. (NASDAQ:RMBS) by 17.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,059 shares of the semiconductor company’s stock after selling 7,886 shares during the quarter. Rice Hall James & Associates LLC’s holdings in Rambus were worth $3,188,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Invesco Ltd. lifted its holdings in Rambus by 70.6% in the fourth quarter. Invesco Ltd. now owns 4,148,653 shares of the semiconductor company’s stock valued at $381,220,000 after acquiring an additional 1,716,621 shares during the period. Norges Bank purchased a new position in shares of Rambus in the 4th quarter valued at about $156,356,000. Bank of America Corp DE increased its holdings in shares of Rambus by 196.0% in the 3rd quarter. Bank of America Corp DE now owns 1,550,665 shares of the semiconductor company’s stock valued at $161,579,000 after purchasing an additional 1,026,776 shares in the last quarter. Bessemer Group Inc. lifted its stake in shares of Rambus by 1,009.5% in the first quarter. Bessemer Group Inc. now owns 1,039,905 shares of the semiconductor company’s stock valued at $89,463,000 after purchasing an additional 946,177 shares during the period. Finally, AQR Capital Management LLC lifted its stake in shares of Rambus by 192.8% in the second quarter. AQR Capital Management LLC now owns 701,746 shares of the semiconductor company’s stock valued at $44,926,000 after purchasing an additional 462,116 shares during the period. Institutional investors and hedge funds own 88.54% of the company’s stock.

Rambus Price Performance

Rambus stock opened at $96.01 on Monday. The stock has a market capitalization of $10.38 billion, a P/E ratio of 45.72 and a beta of 1.84. Rambus, Inc. has a 12-month low of $62.81 and a 12-month high of $174.10. The firm’s 50-day moving average is $128.78 and its two-hundred day moving average is $114.40.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings data on Monday, April 27th. The semiconductor company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.02. The business had revenue of $180.19 million for the quarter, compared to the consensus estimate of $179.94 million. Rambus had a net margin of 31.90% and a return on equity of 17.41%. As a group, analysts forecast that Rambus, Inc. will post 2.44 EPS for the current year.

Insiders Place Their Bets

In other news, Director Necip Sayiner sold 5,000 shares of the firm’s stock in a transaction on 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 owned 18,223 shares in the company, valued at $3,100,643.45. This trade represents a 21.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Xianzhi Sean Fan sold 37,914 shares of Rambus stock in a transaction 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 approximately $25,538,225.02. This represents a 18.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 62,914 shares of company stock worth $9,724,775 over the last ninety days. Company insiders own 0.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on RMBS shares. Weiss Ratings restated a “hold (c+)” rating on shares of Rambus in a research report on Friday, June 5th. Jefferies Financial Group lifted their price target on shares of Rambus from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Benchmark began coverage on Rambus in a report on Wednesday, July 15th. They issued a “buy” rating and a $165.00 price target on the stock. Evercore reaffirmed an “outperform” rating and issued a $172.00 price objective on shares of Rambus in a research note on Tuesday, April 28th. Finally, Rosenblatt Securities raised their price objective on Rambus from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $134.75.

About Rambus

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.