Rambus, Inc. $RMBS Shares Sold by Thornburg Investment Management Inc.

Thornburg Investment Management Inc. trimmed its position in shares of Rambus, Inc. (NASDAQ:RMBS) by 16.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 57,554 shares of the semiconductor company’s stock after selling 11,037 shares during the period. Thornburg Investment Management Inc.’s holdings in Rambus were worth $5,289,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. NewEdge Advisors LLC lifted its stake in shares of Rambus by 22,321.4% in the 1st quarter. NewEdge Advisors LLC now owns 9,417 shares of the semiconductor company’s stock worth $488,000 after acquiring an additional 9,375 shares during the period. Empowered Funds LLC lifted its stake in shares of Rambus by 34.1% in the 1st quarter. Empowered Funds LLC now owns 22,750 shares of the semiconductor company’s stock worth $1,178,000 after acquiring an additional 5,783 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Rambus by 6.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 309,512 shares of the semiconductor company’s stock worth $16,025,000 after acquiring an additional 19,120 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Rambus in the 1st quarter worth approximately $218,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Rambus in the 2nd quarter worth approximately $102,000. 88.54% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Emiko Higashi sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $160.50, for a total transaction of $1,605,000.00. Following the sale, the director owned 49,519 shares in the company, valued at $7,947,799.50. The trade was a 16.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Xianzhi Sean Fan sold 37,914 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $151.69, for a total transaction of $5,751,174.66. Following the sale, the executive vice president owned 168,358 shares in the company, valued at $25,538,225.02. This represents a 18.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 79,850 shares of company stock worth $11,649,796. Company insiders own 0.75% of the company’s stock.

Rambus Price Performance

NASDAQ RMBS opened at $143.29 on Tuesday. The company’s 50 day simple moving average is $132.01 and its 200 day simple moving average is $110.44. Rambus, Inc. has a 12 month low of $58.81 and a 12 month high of $174.10. The company has a market capitalization of $15.50 billion, a P/E ratio of 68.23 and a beta of 1.84.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on RMBS shares. Rosenblatt Securities upped their price target on shares of Rambus from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Wells Fargo & Company upped their price target on shares of Rambus from $115.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rambus in a research note on Friday, June 5th. Evercore reaffirmed an “outperform” rating and issued a $172.00 price target on shares of Rambus in a research note on Tuesday, April 28th. Finally, Jefferies Financial Group upped their price target on shares of Rambus from $120.00 to $145.00 and gave the stock a “buy” rating in a research note 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 given a Hold rating to the stock. Based on data from MarketBeat.com, Rambus has an average rating of “Moderate Buy” and a consensus 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.