Rambus, Inc. $RMBS Shares Sold by Wesbanco Bank Inc.

Wesbanco Bank Inc. lowered its holdings in shares of Rambus, Inc. (NASDAQ:RMBS) by 37.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 14,300 shares of the semiconductor company’s stock after selling 8,509 shares during the quarter. Wesbanco Bank Inc.’s holdings in Rambus were worth $1,314,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Steigerwald Gordon & Koch Inc. acquired a new position in Rambus during the third quarter worth about $25,000. Torren Management LLC acquired a new position in Rambus during the fourth quarter worth about $26,000. Spire Wealth Management raised its position in Rambus by 199.0% during the fourth quarter. Spire Wealth Management now owns 302 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 201 shares during the last quarter. IFP Advisors Inc raised its position in 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 acquiring an additional 247 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in Rambus during the fourth quarter worth about $50,000. Institutional investors and hedge funds own 88.54% of the company’s stock.

Insider Activity

In other news, CFO Desmond Lynch sold 4,273 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $101.53, for a total value of $433,837.69. Following the completion of the transaction, the chief financial officer owned 63,618 shares of the company’s stock, valued at $6,459,135.54. The trade was a 6.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Meera Rao sold 8,538 shares of the business’s stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $118.08, for a total transaction of $1,008,167.04. Following the completion of the transaction, the director directly owned 22,946 shares of the company’s stock, valued at approximately $2,709,463.68. This represents a 27.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 61,123 shares of company stock valued at $6,295,577 over the last 90 days. Insiders own 0.75% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on RMBS shares. Rosenblatt Securities lifted their target price on shares of Rambus from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Zacks Research upgraded shares of Rambus to a “hold” rating in a research report on Monday, January 26th. Robert W. Baird cut shares of Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 target price for the company. in a research report on Tuesday, April 28th. Wells Fargo & Company lifted their target price on shares of Rambus from $115.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Finally, Jefferies Financial Group lifted their target price on shares of Rambus from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Rambus presently has an average rating of “Moderate Buy” and a consensus target price of $130.43.

Rambus Price Performance

NASDAQ:RMBS opened at $129.24 on Friday. The firm has a 50 day simple moving average of $104.61 and a 200-day simple moving average of $102.25. The firm has a market cap of $13.98 billion, a PE ratio of 61.54 and a beta of 1.79. Rambus, Inc. has a 1-year low of $50.89 and a 1-year high of $161.80.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings data on Monday, April 27th. The semiconductor company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. The business had revenue of $180.19 million during the quarter, compared to analyst estimates of $179.94 million. Rambus had a net margin of 31.90% and a return on equity of 17.41%. As a group, sell-side analysts expect that Rambus, Inc. will post 2.44 earnings per share for the current fiscal year.

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.