Rambus, Inc. $RMBS Stake Cut by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in shares of Rambus, Inc. (NASDAQ:RMBS) by 28.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 779,878 shares of the semiconductor company’s stock after selling 314,278 shares during the quarter. Bank of New York Mellon Corp’s holdings in Rambus were worth $67,093,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in RMBS. Acumen Wealth Advisors LLC bought a new position in shares of Rambus during the 4th quarter worth about $25,000. Torren Management LLC bought a new stake in Rambus in the fourth quarter valued at about $26,000. Spire Wealth Management raised its holdings in Rambus by 199.0% in the fourth quarter. Spire Wealth Management now owns 302 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 201 shares during the period. University of Texas Texas AM Investment Management Co. bought a new position in Rambus in the fourth quarter valued at approximately $28,000. Finally, IFP Advisors Inc boosted its position in shares of Rambus by 126.7% during the third quarter. IFP Advisors Inc now owns 442 shares of the semiconductor company’s stock worth $47,000 after buying an additional 247 shares during the period. Institutional investors and hedge funds own 88.54% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on RMBS shares. 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 report on Tuesday, April 28th. Benchmark initiated coverage on Rambus in a report on Wednesday, July 15th. They set a “buy” rating and a $165.00 price target on the stock. Wells Fargo & Company lifted their price objective on Rambus from $115.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Evercore reiterated an “outperform” rating and issued a $172.00 target price on shares of Rambus in a report on Tuesday, April 28th. Finally, Robert W. Baird downgraded shares of Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price objective on the stock. in a report on Tuesday, April 28th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Rambus currently has an average rating of “Moderate Buy” and a consensus target price of $134.75.

Insider Transactions at Rambus

In related news, Director Eric B. Stang sold 5,000 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $146.00, for a total transaction of $730,000.00. Following the completion of the transaction, the director directly owned 19,218 shares of the company’s stock, valued at $2,805,828. The trade was a 20.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Emiko Higashi sold 10,000 shares of Rambus 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 directly owned 49,519 shares in the company, valued at approximately $7,947,799.50. This trade represents a 16.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 65,886 shares of company stock worth $10,171,466 over the last quarter. Company insiders own 0.75% of the company’s stock.

Rambus Price Performance

Shares of RMBS stock opened at $103.83 on Thursday. Rambus, Inc. has a 1 year low of $62.81 and a 1 year high of $174.10. The company has a market cap of $11.23 billion, a PE ratio of 49.44 and a beta of 1.84. The stock’s 50 day simple moving average is $129.94 and its two-hundred day simple moving average is $114.38.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings data on Monday, April 27th. The semiconductor company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. Rambus had a net margin of 31.90% and a return on equity of 17.41%. The company had revenue of $180.19 million during the quarter, compared to the consensus estimate of $179.94 million. Equities research analysts expect that Rambus, Inc. will post 2.44 EPS for the current year.

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.