ProShare Advisors LLC Sells 6,742 Shares of Rambus, Inc. $RMBS

ProShare Advisors LLC cut its holdings in Rambus, Inc. (NASDAQ:RMBS) by 17.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,958 shares of the semiconductor company’s stock after selling 6,742 shares during the quarter. ProShare Advisors LLC’s holdings in Rambus were worth $3,434,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Steigerwald Gordon & Koch Inc. purchased a new position in shares of Rambus in the third quarter worth $25,000. Abound Wealth Management purchased a new stake in shares of Rambus during the third quarter valued at $28,000. True Wealth Design LLC increased its holdings in Rambus by 162.5% in the 2nd quarter. True Wealth Design LLC now owns 420 shares of the semiconductor company’s stock worth $27,000 after buying an additional 260 shares in the last quarter. Bessemer Group Inc. increased its holdings in Rambus by 105.8% in the 2nd quarter. Bessemer Group Inc. now owns 463 shares of the semiconductor company’s stock worth $30,000 after buying an additional 238 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its position in Rambus by 1,386.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 639 shares of the semiconductor company’s stock worth $41,000 after buying an additional 596 shares during the last quarter. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Rambus Trading Up 6.4%

Shares of RMBS stock opened at $101.95 on Friday. Rambus, Inc. has a 12 month low of $40.12 and a 12 month high of $135.75. The stock has a market cap of $10.97 billion, a P/E ratio of 48.32 and a beta of 1.53. The company has a 50 day simple moving average of $102.11 and a two-hundred day simple moving average of $94.60.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings data on Monday, February 2nd. The semiconductor company reported $0.68 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.68. The firm had revenue of $190.24 million during the quarter, compared to the consensus estimate of $188.21 million. Rambus had a net margin of 32.57% and a return on equity of 17.69%. As a group, equities analysts forecast that Rambus, Inc. will post 1.89 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Weiss Ratings downgraded shares of Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday. Evercore lowered their price objective on shares of Rambus from $126.00 to $119.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 3rd. Rosenblatt Securities restated a “buy” rating and issued a $130.00 target price on shares of Rambus in a report on Tuesday, February 3rd. Cfra downgraded shares of Rambus from a “hold” rating to a “moderate sell” rating in a research report on Monday, December 15th. Finally, Jefferies Financial Group raised Rambus to a “strong-buy” rating in a report on Tuesday, October 28th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Rambus has an average rating of “Moderate Buy” and a consensus price target of $105.71.

Rambus 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.