Rambus, Inc. $RMBS Position Lessened by Schwartz Investment Counsel Inc.

Schwartz Investment Counsel Inc. lowered its position in Rambus, Inc. (NASDAQ:RMBS) by 39.4% during the third quarter, HoldingsChannel.com reports. The firm owned 230,337 shares of the semiconductor company’s stock after selling 150,000 shares during the quarter. Schwartz Investment Counsel Inc.’s holdings in Rambus were worth $24,001,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Nordea Investment Management AB boosted its position in Rambus by 1,216.0% during the second quarter. Nordea Investment Management AB now owns 69,116 shares of the semiconductor company’s stock worth $4,381,000 after purchasing an additional 63,864 shares during the period. Oak Grove Capital LLC acquired a new stake in shares of Rambus in the second quarter worth $519,000. First Citizens Bank & Trust Co. boosted its holdings in shares of Rambus by 250.9% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 13,591 shares of the semiconductor company’s stock worth $870,000 after buying an additional 9,718 shares during the period. Neuberger Berman Group LLC boosted its holdings in shares of Rambus by 5.1% during the 2nd quarter. Neuberger Berman Group LLC now owns 1,348,038 shares of the semiconductor company’s stock worth $86,300,000 after buying an additional 65,870 shares during the period. Finally, Panagora Asset Management Inc. grew its stake in Rambus by 3.7% in the 2nd quarter. Panagora Asset Management Inc. now owns 477,359 shares of the semiconductor company’s stock valued at $30,561,000 after buying an additional 16,921 shares during the last quarter. 88.54% of the stock is owned by hedge funds and other institutional investors.

Rambus Stock Performance

RMBS stock opened at $107.99 on Monday. Rambus, Inc. has a 52 week low of $40.12 and a 52 week high of $114.55. The company’s 50-day simple moving average is $96.16 and its 200 day simple moving average is $88.68. The company has a market capitalization of $11.63 billion, a PE ratio of 51.18 and a beta of 1.51.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings results on Monday, October 27th. The semiconductor company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.18). Rambus had a net margin of 33.72% and a return on equity of 17.73%. The company had revenue of $178.51 million during the quarter, compared to analyst estimates of $175.60 million. During the same period last year, the firm earned $0.45 EPS. The firm’s revenue for the quarter was up 22.7% compared to the same quarter last year. On average, analysts forecast that Rambus, Inc. will post 1.89 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on RMBS shares. Cfra Research lowered shares of Rambus from a “hold” rating to a “moderate sell” rating in a report on Monday, December 15th. Susquehanna set a $100.00 target price on shares of Rambus and gave the company a “neutral” rating in a research note on Monday, October 6th. Rosenblatt Securities reiterated a “buy” rating and issued a $130.00 price objective on shares of Rambus in a report on Tuesday, October 28th. Evercore ISI upped their price objective on shares of Rambus from $114.00 to $126.00 and gave the company an “outperform” rating in a research report on Tuesday, October 28th. Finally, Weiss Ratings lowered shares of Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $108.14.

Insider Buying and Selling at Rambus

In other news, Director Eric B. Stang sold 4,000 shares of the firm’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $111.78, for a total transaction of $447,120.00. Following the completion of the transaction, the director owned 20,394 shares of the company’s stock, valued at approximately $2,279,641.32. This trade represents a 16.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.00% of the company’s stock.

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.