Rambus, Inc. $RMBS Shares Sold by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV lessened its holdings in shares of Rambus, Inc. (NASDAQ:RMBS) by 32.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,221 shares of the semiconductor company’s stock after selling 7,966 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Rambus were worth $1,395,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Invesco Ltd. lifted its holdings in Rambus by 70.6% in the fourth quarter. Invesco Ltd. now owns 4,148,653 shares of the semiconductor company’s stock worth $381,220,000 after acquiring an additional 1,716,621 shares during the last quarter. Norges Bank bought a new position in shares of Rambus during the fourth quarter valued at approximately $156,356,000. Alliancebernstein L.P. raised its position in shares of Rambus by 572.7% during the 3rd quarter. Alliancebernstein L.P. now owns 1,822,030 shares of the semiconductor company’s stock worth $189,856,000 after purchasing an additional 1,551,159 shares during the period. Bank of America Corp DE raised its position in shares of Rambus by 196.0% during the 3rd quarter. Bank of America Corp DE now owns 1,550,665 shares of the semiconductor company’s stock worth $161,579,000 after purchasing an additional 1,026,776 shares during the period. Finally, AQR Capital Management LLC raised its position in shares of Rambus by 192.8% during the 2nd quarter. AQR Capital Management LLC now owns 701,746 shares of the semiconductor company’s stock worth $44,926,000 after purchasing an additional 462,116 shares during the period. Institutional investors and hedge funds own 88.54% of the company’s stock.

Rambus Stock Down 1.8%

Shares of RMBS opened at $112.10 on Friday. The firm has a 50-day moving average price of $133.82 and a 200 day moving average price of $113.72. The firm has a market capitalization of $12.12 billion, a PE ratio of 53.38 and a beta of 1.84. Rambus, Inc. has a 52-week low of $61.16 and a 52-week high of $174.10.

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

Analyst Upgrades and Downgrades

RMBS has been the subject of a number of analyst reports. Rosenblatt Securities boosted their price objective on Rambus from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rambus in a research report on Friday, June 5th. Robert W. Baird lowered Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 target price on the stock. in a research report on Tuesday, April 28th. Jefferies Financial Group raised 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. Finally, Evercore reissued an “outperform” rating and set a $172.00 price target on shares of Rambus in a report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $130.43.

Insider Activity

In related news, Director Necip Sayiner sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $170.15, for a total transaction of $850,750.00. Following the sale, the director owned 18,223 shares of the company’s stock, valued at $3,100,643.45. The trade was a 21.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 owned 168,358 shares of the company’s stock, valued at $25,538,225.02. This trade represents a 18.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 74,424 shares of company stock valued at $11,179,633 over the last 90 days. Corporate insiders own 0.75% of the company’s stock.

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.