Short Interest in Rambus, Inc. (NASDAQ:RMBS) Declines By 36.5%

Rambus, Inc. (NASDAQ:RMBS) saw a significant decrease in short interest in the month of June. As of June 30th, there was short interest totaling 4,878,765 shares, a decrease of 36.5% from the June 15th total of 7,682,296 shares. Currently, 4.5% of the shares of the stock are short sold. Based on an average trading volume of 4,603,682 shares, the short-interest ratio is currently 1.1 days.

Rambus Price Performance

Shares of NASDAQ:RMBS traded down $2.66 during midday trading on Friday, hitting $98.76. The company had a trading volume of 856,525 shares, compared to its average volume of 2,679,879. Rambus has a twelve month low of $62.81 and a twelve month high of $174.10. The stock has a market cap of $10.68 billion, a price-to-earnings ratio of 47.31 and a beta of 1.84. The business’s 50-day simple moving average is $132.28 and its 200-day simple moving average is $114.10.

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

Insider Buying and Selling at Rambus

In other Rambus news, Director Emiko Higashi sold 10,000 shares of the stock in a transaction 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 transaction, the director directly owned 49,519 shares of the company’s stock, valued at $7,947,799.50. This trade represents a 16.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Xianzhi Sean Fan sold 37,914 shares of Rambus stock in a transaction dated 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 completion of the sale, the executive vice president owned 168,358 shares in the company, valued at approximately $25,538,225.02. This trade represents a 18.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 65,886 shares of company stock valued at $10,171,466. Insiders own 0.75% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Invesco Ltd. grew its holdings in shares of Rambus by 70.6% in the fourth quarter. Invesco Ltd. now owns 4,148,653 shares of the semiconductor company’s stock valued at $381,220,000 after purchasing an additional 1,716,621 shares during the period. Norges Bank acquired a new stake in Rambus during the fourth quarter worth about $156,356,000. Bank of America Corp DE raised its stake in Rambus by 196.0% during the third 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. Bessemer Group Inc. raised its stake in Rambus by 1,009.5% during the first quarter. Bessemer Group Inc. now owns 1,039,905 shares of the semiconductor company’s stock worth $89,463,000 after purchasing an additional 946,177 shares during the period. Finally, EdgePoint Investment Group Inc. boosted its holdings in Rambus by 38.5% in the 1st quarter. EdgePoint Investment Group Inc. now owns 1,947,742 shares of the semiconductor company’s stock valued at $167,564,000 after purchasing an additional 541,056 shares during the last quarter. Institutional investors and hedge funds own 88.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Wells Fargo & Company lifted their price objective on Rambus from $115.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. Evercore reissued an “outperform” rating and set a $172.00 target price on shares of Rambus in a report on Tuesday, April 28th. Robert W. Baird downgraded 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. Rosenblatt Securities boosted their price target on Rambus from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Rambus in a research note on Friday, June 5th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $134.75.

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.