Rambus, Inc. $RMBS Shares Sold by Rice Hall James & Associates LLC

Rice Hall James & Associates LLC cut its stake in shares of Rambus, Inc. (NASDAQ:RMBS) by 17.5% in the 1st quarter, Holdings Channel reports. The institutional investor owned 37,059 shares of the semiconductor company’s stock after selling 7,886 shares during the quarter. Rice Hall James & Associates LLC’s holdings in Rambus were worth $3,188,000 at the end of the most recent quarter.

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

Rambus Price Performance

Shares of NASDAQ RMBS opened at $96.01 on Monday. Rambus, Inc. has a 1-year low of $62.81 and a 1-year high of $174.10. The business has a 50-day moving average of $128.78 and a 200-day moving average of $114.40. The company has a market capitalization of $10.38 billion, a price-to-earnings ratio of 45.72 and a beta of 1.84.

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

Insiders Place Their Bets

In other Rambus news, Director Eric B. Stang sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $146.00, for a total value of $730,000.00. Following the transaction, the director directly owned 19,218 shares of the company’s stock, valued at $2,805,828. This represents a 20.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Emiko Higashi sold 10,000 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $160.50, for a total transaction of $1,605,000.00. Following the completion of the sale, 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 SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 62,914 shares of company stock worth $9,724,775. 0.75% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rambus in a research note on Friday, June 5th. Benchmark started coverage on shares of Rambus in a research report on Wednesday, July 15th. They set a “buy” rating and a $165.00 target price for the company. Wells Fargo & Company raised their price target on shares of Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. Rosenblatt Securities lifted their price target on shares of Rambus from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Finally, Evercore reiterated an “outperform” rating and set a $172.00 price objective on shares of Rambus in a research note on Tuesday, April 28th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Rambus presently has a consensus rating of “Moderate Buy” and an average target price of $134.75.

About Rambus

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.