Rambus, Inc. $RMBS Shares Purchased by Citigroup Inc.

Citigroup Inc. increased its holdings in Rambus, Inc. (NASDAQ:RMBS) by 146.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 370,341 shares of the semiconductor company’s stock after purchasing an additional 220,207 shares during the quarter. Citigroup Inc.’s holdings in Rambus were worth $38,590,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Steigerwald Gordon & Koch Inc. acquired a new position in shares of Rambus in the 3rd quarter valued at $25,000. True Wealth Design LLC raised its holdings 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 buying an additional 260 shares during the period. Abound Wealth Management acquired a new position in Rambus in the third quarter valued at about $28,000. Bessemer Group Inc. boosted its stake in Rambus by 105.8% during the second quarter. Bessemer Group Inc. now owns 463 shares of the semiconductor company’s stock worth $30,000 after buying an additional 238 shares during the period. Finally, Hantz Financial Services Inc. boosted its stake in Rambus by 1,386.0% during the second quarter. Hantz Financial Services Inc. now owns 639 shares of the semiconductor company’s stock worth $41,000 after buying an additional 596 shares during the period. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Insider Transactions at Rambus

In other Rambus news, CFO Desmond Lynch sold 4,273 shares of the stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $101.53, for a total value of $433,837.69. Following the sale, the chief financial officer owned 63,618 shares of the company’s stock, valued at $6,459,135.54. This trade represents a 6.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is owned by corporate insiders.

Rambus Stock Up 3.5%

Rambus stock opened at $98.57 on Wednesday. Rambus, Inc. has a 52-week low of $40.12 and a 52-week high of $135.75. The firm has a market cap of $10.62 billion, a PE ratio of 46.72 and a beta of 1.53. The company’s 50 day moving average is $102.17 and its two-hundred day moving average is $96.27.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on RMBS. Susquehanna reduced their price target 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. Cfra downgraded shares of Rambus from a “hold” rating to a “moderate sell” rating in a report on Monday, December 15th. William Blair assumed coverage on Rambus in a research note on Thursday, January 22nd. They set an “outperform” rating on the stock. Zacks Research upgraded Rambus to a “hold” rating in a research report on Monday, January 26th. Finally, Weiss Ratings downgraded Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, February 9th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $105.71.

Rambus Company 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.