Rambus, Inc. $RMBS Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC boosted its stake in shares of Rambus, Inc. (NASDAQ:RMBS) by 3.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,842,715 shares of the semiconductor company’s stock after buying an additional 94,214 shares during the quarter. Geode Capital Management LLC owned 2.64% of Rambus worth $261,256,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RMBS. Alliancebernstein L.P. grew its position in Rambus by 572.7% during the third quarter. Alliancebernstein L.P. now owns 1,822,030 shares of the semiconductor company’s stock worth $189,856,000 after buying an additional 1,551,159 shares during the period. Bank of America Corp DE grew its position in shares of Rambus by 196.0% in the third quarter. Bank of America Corp DE now owns 1,550,665 shares of the semiconductor company’s stock valued at $161,579,000 after purchasing an additional 1,026,776 shares during the last quarter. Rafferty Asset Management LLC acquired a new stake in shares of Rambus in the third quarter valued at approximately $93,962,000. Barclays PLC grew its position in shares of Rambus by 183.1% in the third quarter. Barclays PLC now owns 894,906 shares of the semiconductor company’s stock valued at $93,249,000 after purchasing an additional 578,839 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Rambus by 192.8% in the second quarter. AQR Capital Management LLC now owns 701,746 shares of the semiconductor company’s stock valued at $44,926,000 after purchasing an additional 462,116 shares during the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Rambus Price Performance

RMBS stock opened at $166.78 on Wednesday. The firm has a market capitalization of $18.04 billion, a PE ratio of 79.42 and a beta of 1.84. The company’s 50 day simple moving average is $119.61 and its 200-day simple moving average is $106.19. Rambus, Inc. has a 12 month low of $54.05 and a 12 month high of $167.71.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings data on Monday, April 27th. The semiconductor company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.02. The business had revenue of $180.19 million for the quarter, compared to the consensus estimate of $179.94 million. Rambus had a net margin of 31.90% and a return on equity of 17.41%. As a group, sell-side analysts anticipate that Rambus, Inc. will post 2.44 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Jefferies Financial Group increased their price target 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 increased their price target on shares of Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Robert W. Baird lowered shares of Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price target on the stock. in a research report on Tuesday, April 28th. Evercore reiterated an “outperform” rating and issued a $172.00 price target on shares of Rambus in a research report on Tuesday, April 28th. Finally, Rosenblatt Securities increased their price target on shares of Rambus from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $130.43.

Insider Buying and Selling at Rambus

In related news, Director Eric B. Stang sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $146.00, for a total transaction of $730,000.00. Following the transaction, the director owned 19,218 shares of the company’s stock, valued at approximately $2,805,828. This represents a 20.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Meera Rao sold 8,538 shares of the company’s stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $118.08, for a total transaction of $1,008,167.04. Following the transaction, the director directly owned 22,946 shares in the company, valued at $2,709,463.68. The trade was a 27.12% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 64,850 shares of company stock valued at $9,194,046. 0.75% of the stock is owned by corporate insiders.

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.