HighTower Advisors LLC Has $16.05 Million Holdings in Rambus, Inc. $RMBS

HighTower Advisors LLC trimmed its holdings in Rambus, Inc. (NASDAQ:RMBS) by 29.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 154,029 shares of the semiconductor company’s stock after selling 64,491 shares during the period. HighTower Advisors LLC owned 0.14% of Rambus worth $16,050,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Steigerwald Gordon & Koch Inc. acquired a new stake in Rambus during the third quarter worth approximately $25,000. True Wealth Design LLC lifted its position in shares of Rambus by 162.5% during the 2nd quarter. True Wealth Design LLC now owns 420 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 260 shares during the period. Abound Wealth Management bought a new stake in shares of Rambus during the 3rd quarter valued at $28,000. Bessemer Group Inc. grew its holdings in shares of Rambus by 105.8% during the 2nd quarter. Bessemer Group Inc. now owns 463 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 238 shares in the last quarter. Finally, Hantz Financial Services Inc. increased its position in shares of Rambus by 1,386.0% in the second quarter. Hantz Financial Services Inc. now owns 639 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 596 shares during the period. 88.54% of the stock is currently owned by institutional investors.

Rambus Price Performance

RMBS stock opened at $104.13 on Friday. The company has a 50 day simple moving average of $101.93 and a 200 day simple moving average of $95.41. The stock has a market cap of $11.21 billion, a price-to-earnings ratio of 49.35 and a beta of 1.53. Rambus, Inc. has a 1 year low of $40.12 and a 1 year high of $135.75.

Rambus (NASDAQ:RMBS) last issued its earnings results on Monday, February 2nd. The semiconductor company reported $0.68 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.68. The firm had revenue of $190.24 million for the quarter, compared to analyst estimates of $188.21 million. Rambus had a net margin of 32.57% and a return on equity of 17.69%. On average, equities research analysts anticipate that Rambus, Inc. will post 1.89 EPS for the current fiscal year.

Wall Street Analyst Weigh In

RMBS has been the subject of several recent analyst reports. Susquehanna cut their price objective on shares of Rambus from $100.00 to $90.00 and set a “neutral” rating for the company in a research report on Tuesday, February 3rd. Rosenblatt Securities restated a “buy” rating and issued a $130.00 target price on shares of Rambus in a research report on Tuesday, February 3rd. William Blair started coverage on shares of Rambus in a research report on Thursday, January 22nd. They set an “outperform” rating on the stock. Wells Fargo & Company lifted their price objective on shares of Rambus from $73.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday, October 28th. Finally, Jefferies Financial Group upgraded shares of Rambus to a “strong-buy” rating in a research report on Tuesday, October 28th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $105.71.

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.