Rambus, Inc. $RMBS Stake Lowered by Globeflex Capital L P

Globeflex Capital L P cut its stake in shares of Rambus, Inc. (NASDAQ:RMBS) by 7.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 59,103 shares of the semiconductor company’s stock after selling 4,715 shares during the quarter. Globeflex Capital L P owned approximately 0.05% of Rambus worth $5,431,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Torren Management LLC bought a new position in Rambus in the 4th quarter worth about $26,000. Spire Wealth Management grew its holdings in Rambus by 199.0% in the 4th quarter. Spire Wealth Management now owns 302 shares of the semiconductor company’s stock worth $28,000 after buying an additional 201 shares in the last quarter. IFP Advisors Inc grew its holdings in Rambus by 126.7% in the 3rd quarter. IFP Advisors Inc now owns 442 shares of the semiconductor company’s stock worth $47,000 after buying an additional 247 shares in the last quarter. CIBC Private Wealth Group LLC grew its holdings in Rambus by 1,194.9% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 505 shares of the semiconductor company’s stock worth $53,000 after buying an additional 466 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in Rambus in the 4th quarter worth approximately $50,000. Institutional investors own 88.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on RMBS shares. Evercore reissued an “outperform” rating and issued a $172.00 price objective on shares of Rambus in a report on Tuesday, April 28th. 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. Rosenblatt Securities increased their price objective on Rambus from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Robert W. Baird lowered Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price objective for the company. in a report on Tuesday, April 28th. Finally, Jefferies Financial Group increased their price objective on Rambus from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. One research 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 company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $130.43.

Rambus Price Performance

RMBS opened at $169.35 on Friday. The company has a market capitalization of $18.31 billion, a price-to-earnings ratio of 80.64 and a beta of 1.84. Rambus, Inc. has a 1-year low of $56.21 and a 1-year high of $174.10. The business has a 50 day moving average price of $124.19 and a two-hundred day moving average price of $107.72.

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

Insider Transactions at Rambus

In other Rambus news, EVP Xianzhi Sean Fan sold 37,914 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $151.69, for a total value of $5,751,174.66. Following the completion of the sale, the executive vice president directly owned 168,358 shares in the company, valued at $25,538,225.02. This represents a 18.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Emiko Higashi sold 10,000 shares of the company’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 completion of the sale, the director owned 49,519 shares of the company’s stock, valued at $7,947,799.50. This trade represents 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 owned by company 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.