Swedbank AB Decreases Position in Rambus, Inc. $RMBS

Swedbank AB trimmed its position in shares of Rambus, Inc. (NASDAQ:RMBS) by 19.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,363,000 shares of the semiconductor company’s stock after selling 337,000 shares during the quarter. Swedbank AB owned approximately 1.27% of Rambus worth $125,246,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Torren Management LLC purchased a new stake in Rambus during the 4th quarter worth approximately $26,000. Spire Wealth Management increased its holdings in shares of Rambus by 199.0% in the 4th quarter. Spire Wealth Management now owns 302 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 201 shares during the last quarter. IFP Advisors Inc boosted its position in Rambus by 126.7% during the 3rd quarter. IFP Advisors Inc now owns 442 shares of the semiconductor company’s stock valued at $47,000 after purchasing an additional 247 shares during the period. CIBC Private Wealth Group LLC boosted its position in Rambus by 1,194.9% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 505 shares of the semiconductor company’s stock valued at $53,000 after purchasing an additional 466 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in Rambus during the 4th quarter valued at approximately $50,000. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Rambus

In other news, Director Meera Rao sold 2,972 shares of the business’s stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $150.30, for a total transaction of $446,691.60. Following the completion of the sale, the director owned 19,974 shares in the company, valued at $3,002,092.20. The trade was a 12.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Desmond Lynch sold 4,273 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $101.53, for a total value of $433,837.69. Following the completion of the sale, the chief financial officer owned 63,618 shares of the company’s stock, valued at approximately $6,459,135.54. This trade represents a 6.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 61,123 shares of company stock worth $6,295,577 over the last quarter. Company insiders own 0.75% of the company’s stock.

Analysts Set New Price Targets

RMBS has been the subject of several research analyst reports. Weiss Ratings lowered Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, March 10th. Rosenblatt Securities upped their price objective on Rambus from $130.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Wells Fargo & Company upped their price objective on Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. Susquehanna cut their price objective on Rambus from $100.00 to $90.00 and set a “neutral” rating for the company in a report on Tuesday, February 3rd. Finally, Robert W. Baird lowered Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price objective for the company. in a report 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 issued a Hold rating to the stock. According to data from MarketBeat, Rambus has an average rating of “Moderate Buy” and an average target price of $130.43.

Rambus Trading Up 0.8%

RMBS stock opened at $142.98 on Friday. The business’s 50-day moving average price is $112.98 and its two-hundred day moving average price is $104.43. Rambus, Inc. has a 1-year low of $52.12 and a 1-year high of $161.80. The firm has a market cap of $15.46 billion, a PE ratio of 68.09 and a beta of 1.79.

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

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.