Rambus, Inc. $RMBS Shares Bought by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans boosted its holdings in shares of Rambus, Inc. (NASDAQ:RMBS) by 282.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 94,495 shares of the semiconductor company’s stock after buying an additional 69,776 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Rambus were worth $8,683,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Krilogy Financial LLC raised its position in Rambus by 5.3% during the fourth quarter. Krilogy Financial LLC now owns 2,157 shares of the semiconductor company’s stock worth $198,000 after acquiring an additional 108 shares during the last quarter. Ashton Thomas Private Wealth LLC raised its position in Rambus by 3.3% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,445 shares of the semiconductor company’s stock worth $317,000 after acquiring an additional 110 shares during the last quarter. Allworth Financial LP raised its position in Rambus by 8.2% during the third quarter. Allworth Financial LP now owns 1,601 shares of the semiconductor company’s stock worth $167,000 after acquiring an additional 121 shares during the last quarter. Coldstream Capital Management Inc. raised its position in Rambus by 2.2% during the third quarter. Coldstream Capital Management Inc. now owns 5,703 shares of the semiconductor company’s stock worth $594,000 after acquiring an additional 125 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Rambus by 3.3% during the fourth quarter. GAMMA Investing LLC now owns 4,833 shares of the semiconductor company’s stock worth $444,000 after acquiring an additional 153 shares during the last quarter. Institutional investors and hedge funds own 88.54% of the company’s stock.

Insider Buying and Selling

In related news, Director Meera Rao sold 8,538 shares of the company’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 owned 22,946 shares of the company’s stock, valued at approximately $2,709,463.68. This represents a 27.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Luc Seraphin sold 39,914 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $98.63, for a total transaction of $3,936,717.82. Following the transaction, the chief executive officer directly owned 331,070 shares of the company’s stock, valued at $32,653,434.10. This trade represents a 10.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 61,123 shares of company stock valued at $6,295,577. Insiders own 0.75% of the company’s stock.

Rambus Stock Performance

Shares of RMBS stock opened at $122.03 on Wednesday. Rambus, Inc. has a one year low of $52.12 and a one year high of $161.80. The company has a 50 day moving average price of $110.02 and a 200 day moving average price of $103.70. The firm has a market capitalization of $13.20 billion, a price-to-earnings ratio of 58.11 and a beta of 1.79.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings results on Monday, April 27th. The semiconductor company reported $0.63 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $179.94 million. As a group, equities analysts forecast that Rambus, Inc. will post 2.44 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Susquehanna cut their target price on shares of Rambus from $100.00 to $90.00 and set a “neutral” rating for the company in a research report on Tuesday, February 3rd. Weiss Ratings lowered shares of Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, March 10th. Zacks Research raised shares of Rambus to a “hold” rating in a research report on Monday, January 26th. Robert W. Baird lowered shares of Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price objective for the company. in a research report on Tuesday, April 28th. Finally, Rosenblatt Securities boosted their price objective on shares of Rambus from $130.00 to $150.00 and gave the company a “buy” rating in a research 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $130.43.

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.