AlphaQuest LLC Sells 19,986 Shares of Rambus, Inc. $RMBS

AlphaQuest LLC trimmed its position in Rambus, Inc. (NASDAQ:RMBS) by 90.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,071 shares of the semiconductor company’s stock after selling 19,986 shares during the quarter. AlphaQuest LLC’s holdings in Rambus were worth $216,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on RMBS shares. Susquehanna dropped their price objective on shares of Rambus from $100.00 to $90.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 3rd. Wells Fargo & Company raised their price target on shares of Rambus from $73.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. Weiss Ratings upgraded Rambus from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 26th. Rosenblatt Securities reissued a “buy” rating and set a $130.00 price objective on shares of Rambus in a report on Tuesday, February 3rd. Finally, William Blair began coverage on Rambus in a report on Thursday, January 22nd. They issued an “outperform” rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Rambus has a consensus rating of “Buy” and an average target price of $105.71.

Rambus Stock Down 3.5%

Shares of NASDAQ RMBS opened at $106.99 on Wednesday. The company has a market capitalization of $11.52 billion, a PE ratio of 50.71 and a beta of 1.53. The stock’s 50 day moving average price is $102.14 and its 200-day moving average price is $94.29. Rambus, Inc. has a twelve month low of $40.12 and a twelve month high of $135.75.

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

Rambus Profile

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.