Swedbank AB Purchases 200,000 Shares of Rambus, Inc. $RMBS

Swedbank AB increased its position in shares of Rambus, Inc. (NASDAQ:RMBS) by 14.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,563,000 shares of the semiconductor company’s stock after buying an additional 200,000 shares during the period. Swedbank AB owned 1.45% of Rambus worth $134,465,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Krilogy Financial LLC boosted its position in shares of Rambus by 3.8% in the first quarter. Krilogy Financial LLC now owns 2,238 shares of the semiconductor company’s stock valued at $193,000 after acquiring an additional 81 shares during the period. Oak Grove Capital LLC boosted its holdings in Rambus by 1.3% in the 4th quarter. Oak Grove Capital LLC now owns 7,600 shares of the semiconductor company’s stock valued at $698,000 after purchasing an additional 100 shares during the period. Northwestern Mutual Investment Management Company LLC boosted its holdings in Rambus by 0.4% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 24,085 shares of the semiconductor company’s stock valued at $2,213,000 after purchasing an additional 103 shares during the period. Ashton Thomas Private Wealth LLC grew its position in Rambus by 3.3% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,445 shares of the semiconductor company’s stock worth $317,000 after purchasing an additional 110 shares during the last quarter. Finally, Meeder Advisory Services Inc. grew its position in Rambus by 3.0% in the 4th quarter. Meeder Advisory Services Inc. now owns 3,883 shares of the semiconductor company’s stock worth $357,000 after purchasing an additional 114 shares during the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on RMBS shares. Jefferies Financial Group upped their price objective 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. Wells Fargo & Company boosted their price target on Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Robert W. Baird lowered Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price target on the stock. in a research note on Tuesday, April 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rambus in a report on Friday, June 5th. Finally, Rosenblatt Securities raised their price objective on Rambus from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Rambus currently has a consensus rating of “Moderate Buy” and a consensus target price of $130.43.

Insiders Place Their Bets

In other Rambus news, Director Eric B. Stang sold 5,000 shares of the company’s stock in a transaction 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 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 legal filing with the SEC, which is available at this hyperlink. Also, Director Meera Rao sold 2,972 shares of the stock in a transaction on Friday, April 24th. The stock was sold at an average price of $150.30, for a total value of $446,691.60. Following the transaction, the director owned 19,974 shares of the company’s stock, valued at $3,002,092.20. This represents a 12.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 74,424 shares of company stock worth $11,179,633 over the last quarter. Corporate insiders own 0.75% of the company’s stock.

Rambus Stock Performance

NASDAQ:RMBS opened at $105.93 on Wednesday. The company has a 50-day moving average of $134.40 and a 200-day moving average of $113.48. Rambus, Inc. has a 52 week low of $61.16 and a 52 week high of $174.10. The company has a market capitalization of $11.46 billion, a price-to-earnings ratio of 50.44 and a beta of 1.84.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings results on Monday, April 27th. The semiconductor company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. The firm had revenue of $180.19 million during the quarter, compared to analysts’ expectations of $179.94 million. Rambus had a net margin of 31.90% and a return on equity of 17.41%. Sell-side analysts forecast that Rambus, Inc. will post 2.44 EPS for the current year.

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.