Financiere des Professionnels Fonds d investissement inc. trimmed its stake in Rambus, Inc. (NASDAQ:RMBS – Free Report) by 68.6% in the first quarter, HoldingsChannel.com reports. The firm owned 2,299 shares of the semiconductor company’s stock after selling 5,018 shares during the period. Financiere des Professionnels Fonds d investissement inc.’s holdings in Rambus were worth $198,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of RMBS. Bessemer Group Inc. lifted its holdings in Rambus by 1,009.5% during the 1st quarter. Bessemer Group Inc. now owns 1,039,905 shares of the semiconductor company’s stock worth $89,463,000 after buying an additional 946,177 shares during the period. Independent Financial Group LLC acquired a new stake in shares of Rambus in the first quarter valued at about $561,000. Illinois Municipal Retirement Fund increased its stake in shares of Rambus by 12.2% in the first quarter. Illinois Municipal Retirement Fund now owns 27,314 shares of the semiconductor company’s stock valued at $2,350,000 after buying an additional 2,974 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in shares of Rambus by 22.6% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 9,346 shares of the semiconductor company’s stock worth $804,000 after acquiring an additional 1,721 shares during the last quarter. Finally, State of Michigan Retirement System raised its position in shares of Rambus by 2.0% during the first quarter. State of Michigan Retirement System now owns 25,900 shares of the semiconductor company’s stock worth $2,228,000 after acquiring an additional 500 shares during the last quarter. 88.54% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
RMBS has been the topic of several analyst reports. Wells Fargo & Company upped their target price on Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. Rosenblatt Securities raised their price target on shares of Rambus from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Benchmark started coverage on shares of Rambus in a report on Wednesday. They set a “buy” rating and a $165.00 price target for the company. Evercore restated an “outperform” rating and issued a $172.00 price target on shares of Rambus in a research report on Tuesday, April 28th. Finally, Jefferies Financial Group upped their price objective on shares of Rambus from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Two equities 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 stock. According to data from MarketBeat, Rambus currently has an average rating of “Moderate Buy” and a consensus price target of $134.75.
Insider Transactions at Rambus
In other Rambus news, EVP Xianzhi Sean Fan sold 37,914 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $151.69, for a total value of $5,751,174.66. Following the transaction, the executive vice president directly owned 168,358 shares of the company’s stock, valued at approximately $25,538,225.02. The trade was a 18.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Meera Rao sold 2,972 shares of the stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $150.30, for a total value of $446,691.60. Following the transaction, 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 disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 65,886 shares of company stock valued at $10,171,466. 0.75% of the stock is owned by insiders.
Rambus Trading Up 0.0%
RMBS stock opened at $101.44 on Friday. The firm has a market cap of $10.97 billion, a PE ratio of 48.30 and a beta of 1.84. The stock has a 50-day moving average price of $131.72 and a 200-day moving average price of $114.01. Rambus, Inc. has a 1-year low of $62.81 and a 1-year high of $174.10.
Rambus (NASDAQ:RMBS – Get Free Report) last announced its earnings results on Monday, April 27th. The semiconductor company reported $0.63 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 company had revenue of $180.19 million for the quarter, compared to analyst estimates of $179.94 million. On average, analysts forecast that Rambus, Inc. will post 2.44 earnings per share for the current year.
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.
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