KERR FINANCIAL PLANNING Corp Acquires New Position in Rambus, Inc. $RMBS

KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Rambus, Inc. (NASDAQ:RMBS) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,950 shares of the semiconductor company’s stock, valued at approximately $828,000. Rambus comprises about 1.1% of KERR FINANCIAL PLANNING Corp’s investment portfolio, making the stock its 15th biggest holding.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC increased its stake in shares of Rambus by 1,194.9% in the third quarter. CIBC Private Wealth Group LLC now owns 505 shares of the semiconductor company’s stock worth $53,000 after purchasing an additional 466 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new stake in shares of Rambus during the 3rd quarter valued at approximately $1,199,000. WBI Investments LLC purchased a new stake in shares of Rambus during the 3rd quarter valued at approximately $454,000. Coldstream Capital Management Inc. boosted its holdings in Rambus by 2.2% in the 3rd quarter. Coldstream Capital Management Inc. now owns 5,703 shares of the semiconductor company’s stock worth $594,000 after buying an additional 125 shares during the period. Finally, Danske Bank A S bought a new position in Rambus in the 3rd quarter worth approximately $10,530,000. Institutional investors own 88.54% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Desmond Lynch sold 4,273 shares of the stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $101.53, for a total value of $433,837.69. Following the sale, the chief financial officer owned 63,618 shares in the company, valued at approximately $6,459,135.54. This trade represents a 6.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Luc Seraphin sold 39,914 shares of Rambus stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $98.63, for a total value of $3,936,717.82. Following the sale, the chief executive officer directly owned 331,070 shares of the company’s stock, valued at $32,653,434.10. This represents a 10.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.75% of the company’s stock.

Rambus Trading Up 0.8%

Rambus stock opened at $93.50 on Wednesday. Rambus, Inc. has a 1-year low of $40.12 and a 1-year high of $135.75. The firm has a market capitalization of $10.11 billion, a PE ratio of 44.31 and a beta of 1.55. The firm’s 50 day simple moving average is $101.89 and its 200 day simple moving average is $98.30.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings results on Monday, February 2nd. The semiconductor company reported $0.68 EPS for the quarter, meeting the consensus estimate 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%. Research analysts forecast that Rambus, Inc. will post 1.89 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on RMBS shares. William Blair started coverage on shares of Rambus in a report on Thursday, January 22nd. They set an “outperform” rating on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $130.00 price target on shares of Rambus in a report on Tuesday, February 3rd. Cfra cut Rambus from a “hold” rating to a “moderate sell” rating in a research report on Monday, December 15th. Weiss Ratings lowered Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, March 10th. Finally, Evercore dropped their price objective on Rambus from $126.00 to $119.00 and set an “outperform” rating on the stock in a report on Tuesday, February 3rd. Two equities 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. Based on data from MarketBeat, Rambus currently has an average rating of “Moderate Buy” and a consensus target price of $105.71.

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.