Castleark Management LLC Reduces Holdings in Rambus, Inc. $RMBS

Castleark Management LLC cut its position in shares of Rambus, Inc. (NASDAQ:RMBS) by 13.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 95,578 shares of the semiconductor company’s stock after selling 15,260 shares during the quarter. Castleark Management LLC’s holdings in Rambus were worth $8,783,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of RMBS. M&T Bank Corp boosted its position in shares of Rambus by 2,372.0% in the fourth quarter. M&T Bank Corp now owns 122,636 shares of the semiconductor company’s stock worth $11,269,000 after acquiring an additional 117,675 shares during the last quarter. TD Asset Management Inc lifted its position in shares of Rambus by 463.6% during the third quarter. TD Asset Management Inc now owns 25,306 shares of the semiconductor company’s stock worth $2,637,000 after purchasing an additional 20,816 shares in the last quarter. William Blair Investment Management LLC acquired a new position in shares of Rambus during the third quarter worth $30,341,000. AMJ Financial Wealth Management lifted its position in shares of Rambus by 252.0% during the fourth quarter. AMJ Financial Wealth Management now owns 94,946 shares of the semiconductor company’s stock worth $8,725,000 after purchasing an additional 67,973 shares in the last quarter. Finally, Barclays PLC raised its holdings in Rambus by 183.1% in the third quarter. Barclays PLC now owns 894,906 shares of the semiconductor company’s stock valued at $93,249,000 after acquiring an additional 578,839 shares in the last quarter. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Rambus

In related news, Director Necip Sayiner sold 5,000 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $170.15, for a total value of $850,750.00. Following the transaction, the director owned 18,223 shares in the company, valued at approximately $3,100,643.45. This represents a 21.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Meera Rao sold 8,538 shares of the stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $118.08, for a total value of $1,008,167.04. Following the transaction, the director owned 22,946 shares in the company, valued at approximately $2,709,463.68. This trade represents a 27.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 79,850 shares of company stock valued at $11,649,796 in the last ninety days. 0.75% of the stock is currently owned by insiders.

Rambus Price Performance

Shares of RMBS opened at $146.56 on Friday. The company has a market capitalization of $15.85 billion, a price-to-earnings ratio of 69.79 and a beta of 1.84. Rambus, Inc. has a fifty-two week low of $57.98 and a fifty-two week high of $174.10. The business’s 50-day moving average is $131.01 and its 200-day moving average is $109.96.

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

Analyst Upgrades and Downgrades

RMBS has been the topic of several recent analyst reports. Rosenblatt Securities upped their price target on shares of Rambus from $130.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Robert W. Baird lowered shares of Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price target for the company. in a research report on Tuesday, April 28th. Wells Fargo & Company increased their target price on shares of Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Jefferies Financial Group increased their target price on shares of Rambus from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Finally, Evercore reissued an “outperform” rating and issued a $172.00 price target on shares of Rambus in a report on Tuesday, April 28th. One investment 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 MarketBeat.com, Rambus presently has an average rating of “Moderate Buy” and an average target price of $130.43.

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.