Swedbank AB Has $134.47 Million Holdings in Rambus, Inc. $RMBS

Swedbank AB increased its holdings in shares of Rambus, Inc. (NASDAQ:RMBS) by 14.7% during the first quarter, Holdings Channel reports. The fund owned 1,563,000 shares of the semiconductor company’s stock after purchasing an additional 200,000 shares during the period. Swedbank AB’s holdings in Rambus were worth $134,465,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RMBS. Acumen Wealth Advisors LLC bought a new position in Rambus in the 4th quarter valued at $25,000. Torren Management LLC acquired a new position in Rambus in the fourth quarter worth $26,000. Spire Wealth Management grew its holdings in shares of Rambus by 199.0% during the fourth quarter. Spire Wealth Management now owns 302 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 201 shares during the last quarter. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Rambus in the fourth quarter valued at $28,000. Finally, IFP Advisors Inc increased its stake in shares of Rambus by 126.7% in the third quarter. IFP Advisors Inc now owns 442 shares of the semiconductor company’s stock valued at $47,000 after buying an additional 247 shares in the last quarter. 88.54% of the stock is owned by institutional investors and hedge funds.

Rambus Stock Down 6.5%

RMBS stock opened at $105.93 on Wednesday. Rambus, Inc. has a twelve month low of $61.16 and a twelve month high of $174.10. The company has a market cap of $11.46 billion, a P/E ratio of 50.44 and a beta of 1.84. The business has a fifty day moving average of $134.40 and a 200-day moving average of $113.48.

Rambus (NASDAQ:RMBS) last posted 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. The business had revenue of $180.19 million for the quarter, compared to analysts’ expectations of $179.94 million. Rambus had a return on equity of 17.41% and a net margin of 31.90%. As a group, equities research analysts anticipate that Rambus, Inc. will post 2.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Evercore reaffirmed an “outperform” rating and issued a $172.00 price target on shares of Rambus in a report on Tuesday, April 28th. Jefferies Financial Group increased their price objective on shares of Rambus from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Robert W. Baird cut shares of Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price objective for the company. in a research report on Tuesday, April 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rambus in a research note on Friday, June 5th. Finally, Rosenblatt Securities upped their target price on shares of Rambus from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Rambus has a consensus rating of “Moderate Buy” and an average price target of $130.43.

Insider Buying and Selling

In related news, Director Emiko Higashi sold 10,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $160.50, for a total value of $1,605,000.00. Following the transaction, the director directly owned 49,519 shares in the company, valued at $7,947,799.50. This represents a 16.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Necip Sayiner sold 5,000 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $170.15, for a total transaction of $850,750.00. Following the completion of the transaction, the director owned 18,223 shares in the company, valued at $3,100,643.45. This represents a 21.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 74,424 shares of company stock worth $11,179,633. 0.75% of the stock is currently owned by company insiders.

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.