Harbor Capital Advisors Inc. Reduces Holdings in Rambus, Inc. $RMBS

Harbor Capital Advisors Inc. reduced its stake in Rambus, Inc. (NASDAQ:RMBS) by 85.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,250 shares of the semiconductor company’s stock after selling 55,190 shares during the period. Harbor Capital Advisors Inc.’s holdings in Rambus were worth $964,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RMBS. Norden Group LLC grew its holdings in shares of Rambus by 2.8% in the third quarter. Norden Group LLC now owns 7,655 shares of the semiconductor company’s stock worth $798,000 after purchasing an additional 208 shares during the last quarter. Global X Japan Co. Ltd. purchased a new stake in Rambus during the 3rd quarter valued at $561,000. Vontobel Holding Ltd. bought a new stake in Rambus in the 3rd quarter worth $573,000. Net Worth Advisory Group purchased a new position in shares of Rambus in the third quarter valued at about $264,000. Finally, Farther Finance Advisors LLC increased its position in shares of Rambus by 19.0% in the third quarter. Farther Finance Advisors LLC now owns 1,045 shares of the semiconductor company’s stock valued at $109,000 after acquiring an additional 167 shares during the period. Institutional investors own 88.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on RMBS shares. Wells Fargo & Company increased their target price on shares of Rambus from $73.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. Robert W. Baird upped their price target on Rambus from $90.00 to $120.00 and gave the company an “outperform” rating in a research report on Monday, September 15th. Rosenblatt Securities reiterated a “buy” rating and issued a $130.00 price objective on shares of Rambus in a report on Tuesday, October 28th. Weiss Ratings upgraded Rambus from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 22nd. Finally, Jefferies Financial Group raised Rambus to a “strong-buy” rating in a research note on Tuesday, October 28th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Rambus currently has an average rating of “Buy” and a consensus target price of $108.14.

Rambus Price Performance

Shares of RMBS opened at $94.11 on Friday. The company has a 50-day simple moving average of $98.61 and a two-hundred day simple moving average of $84.86. The firm has a market capitalization of $10.13 billion, a PE ratio of 44.60 and a beta of 1.51. Rambus, Inc. has a one year low of $40.12 and a one year high of $114.55.

Rambus (NASDAQ:RMBS) last announced its earnings results on Monday, October 27th. The semiconductor company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.18). The firm had revenue of $178.51 million during the quarter, compared to the consensus estimate of $175.60 million. Rambus had a return on equity of 17.73% and a net margin of 33.72%.The firm’s revenue was up 22.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.45 EPS. Analysts expect that Rambus, Inc. will post 1.89 EPS for the current fiscal year.

Insiders Place Their Bets

In other Rambus news, Director Meera Rao sold 653 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $101.99, for a total transaction of $66,599.47. Following the completion of the transaction, the director owned 29,261 shares of the company’s stock, valued at approximately $2,984,329.39. This trade represents a 2.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Eric B. Stang sold 5,000 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $102.35, for a total transaction of $511,750.00. Following the sale, the director owned 24,394 shares in the company, valued at approximately $2,496,725.90. This trade represents a 17.01% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 9,653 shares of company stock valued at $1,025,469. 1.00% of the stock is owned by corporate insiders.

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.