Bank of New York Mellon Corp Lowers Stock Holdings in Rambus, Inc. $RMBS

Bank of New York Mellon Corp lowered its stake in Rambus, Inc. (NASDAQ:RMBS) by 31.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,094,156 shares of the semiconductor company’s stock after selling 504,182 shares during the period. Bank of New York Mellon Corp’s holdings in Rambus were worth $100,542,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Baader Bank Aktiengesellschaft bought a new stake in shares of Rambus in the 3rd quarter worth about $1,149,000. M&T Bank Corp raised its position in Rambus by 2,372.0% in the 4th quarter. M&T Bank Corp now owns 122,636 shares of the semiconductor company’s stock worth $11,269,000 after purchasing an additional 117,675 shares during the period. CloudAlpha Capital Management Limited Hong Kong purchased a new stake in Rambus in the 3rd quarter worth about $17,276,000. TD Asset Management Inc lifted its stake in Rambus by 463.6% in the third quarter. TD Asset Management Inc now owns 25,306 shares of the semiconductor company’s stock worth $2,637,000 after purchasing an additional 20,816 shares during the last quarter. Finally, William Blair Investment Management LLC purchased a new position in shares of Rambus during the third quarter valued at approximately $30,341,000. Institutional investors own 88.54% of the company’s stock.

Rambus Price Performance

Shares of NASDAQ:RMBS opened at $145.31 on Monday. Rambus, Inc. has a 52-week low of $57.12 and a 52-week high of $174.10. The stock has a market cap of $15.71 billion, a P/E ratio of 69.20 and a beta of 1.84. The business’s 50 day moving average is $125.18 and its 200 day moving average is $108.10.

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

Analyst Upgrades and Downgrades

RMBS has been the topic of a number of analyst reports. Jefferies Financial Group upped their target price on Rambus from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Weiss Ratings cut Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, March 10th. Wells Fargo & Company increased their target price on Rambus from $115.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Rosenblatt Securities lifted their target price on Rambus from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Finally, Evercore restated an “outperform” rating and issued a $172.00 price target on shares of Rambus in a report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $130.43.

Insider Transactions at Rambus

In related news, Director Meera Rao sold 2,972 shares of Rambus stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $150.30, for a total value of $446,691.60. Following the completion of the sale, the director directly owned 19,974 shares in the company, valued at $3,002,092.20. The trade was a 12.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Emiko Higashi sold 10,000 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $160.50, for a total transaction of $1,605,000.00. Following the transaction, the director owned 49,519 shares in the company, valued at approximately $7,947,799.50. The trade was a 16.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 79,850 shares of company stock valued at $11,649,796 over the last three months. 0.75% of the stock is currently 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.