Rambus, Inc. $RMBS Stock Position Lifted by Fifth Third Bancorp

Fifth Third Bancorp raised its stake in Rambus, Inc. (NASDAQ:RMBS) by 1,675.5% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 27,361 shares of the semiconductor company’s stock after buying an additional 25,820 shares during the quarter. Fifth Third Bancorp’s holdings in Rambus were worth $2,354,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RMBS. Krilogy Financial LLC boosted its holdings in shares of Rambus by 3.8% during the 1st quarter. Krilogy Financial LLC now owns 2,238 shares of the semiconductor company’s stock worth $193,000 after buying an additional 81 shares during the period. Oak Grove Capital LLC increased its holdings in shares of Rambus by 1.3% during the fourth quarter. Oak Grove Capital LLC now owns 7,600 shares of the semiconductor company’s stock worth $698,000 after buying an additional 100 shares in the last quarter. Northwestern Mutual Investment Management Company LLC increased its stake in shares of Rambus by 0.4% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 24,085 shares of the semiconductor company’s stock valued at $2,213,000 after buying an additional 103 shares during the period. Ashton Thomas Private Wealth LLC boosted its holdings in Rambus by 3.3% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,445 shares of the semiconductor company’s stock worth $317,000 after buying an additional 110 shares during the last quarter. Finally, Meeder Advisory Services Inc. increased its holdings in shares of Rambus by 3.0% in the fourth quarter. Meeder Advisory Services Inc. now owns 3,883 shares of the semiconductor company’s stock worth $357,000 after acquiring an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Trading Up 4.9%

NASDAQ RMBS opened at $105.79 on Wednesday. Rambus, Inc. has a 12 month low of $62.81 and a 12 month high of $174.10. The firm has a market capitalization of $11.44 billion, a P/E ratio of 50.38 and a beta of 1.84. The business has a fifty day simple moving average of $130.56 and a 200 day simple moving average of $114.30.

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 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 for the quarter, compared to analysts’ expectations of $179.94 million. As a group, sell-side analysts predict that Rambus, Inc. will post 2.44 EPS for the current fiscal year.

Insider Activity at Rambus

In related news, Director Eric B. Stang sold 5,000 shares of Rambus stock in a transaction on Monday, June 1st. The shares were sold at an average price of $146.00, for a total value of $730,000.00. Following the transaction, the director owned 19,218 shares in the company, valued at $2,805,828. This trade represents a 20.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Emiko Higashi sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $160.50, for a total value 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 65,886 shares of company stock worth $10,171,466 in the last quarter. 0.75% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on RMBS. Wells Fargo & Company increased their price objective on Rambus from $115.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. Benchmark started coverage on Rambus in a report on Wednesday, July 15th. They set a “buy” rating and a $165.00 price target for the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rambus in a research report on Friday, June 5th. 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. Finally, Jefferies Financial Group boosted their price objective on Rambus from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Rambus has an average rating of “Moderate Buy” and an average target price of $134.75.

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.