Algert Global LLC Trims Stock Position in Rambus, Inc. $RMBS

Key Points

• Algert Global cut its Rambus position by 54.1% in the second quarter, selling 39,190 shares and retaining 33,257 shares valued at approximately $4.4 million. Institutional investors collectively own 88.54% of RMBS.
• Rambus reported stronger-than-expected quarterly results, with EPS of $0.77 and revenue of $207.39 million, representing 20.4% year-over-year revenue growth.
• Analysts maintain a generally positive outlook, giving the stock a “Moderate Buy” consensus rating and an average price target of $145.88, although insiders sold 20,000 shares worth about $3.19 million over the past three months.

Algert Global LLC lowered its position in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 54.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,257 shares of the semiconductor company's stock after selling 39,190 shares during the quarter. Algert Global LLC's holdings in Rambus were worth $4,415,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Krilogy Financial LLC increased its holdings in Rambus by 3.8% during the first quarter. Krilogy Financial LLC now owns 2,238 shares of the semiconductor company's stock valued at $193,000 after buying an additional 81 shares during the period. Oak Grove Capital LLC boosted its position in shares of Rambus by 1.3% in the 4th quarter. Oak Grove Capital LLC now owns 7,600 shares of the semiconductor company's stock worth $698,000 after purchasing an additional 100 shares in the last quarter. Northwestern Mutual Investment Management Company LLC grew its stake in Rambus by 0.4% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 24,085 shares of the semiconductor company's stock worth $2,213,000 after buying an additional 103 shares during the last quarter. Balefire LLC grew its stake in Rambus by 3.8% during the 1st quarter. Balefire LLC now owns 2,932 shares of the semiconductor company's stock worth $252,000 after buying an additional 108 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC boosted its holdings in Rambus by 3.3% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,445 shares of the semiconductor company's stock worth $317,000 after acquiring an additional 110 shares in the last quarter. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Rambus Stock Up 1.2%

Rambus stock opened at $91.11 on Friday. The business's 50-day moving average price is $104.29 and its 200 day moving average price is $112.23. The firm has a market cap of $9.88 billion, a price-to-earnings ratio of 41.79 and a beta of 1.88. Rambus, Inc. has a 52 week low of $70.90 and a 52 week high of $174.10.

Rambus (NASDAQ:RMBS - Get Free Report) last announced its quarterly earnings results on Monday, July 27th. The semiconductor company reported $0.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.72 by $0.05. Rambus had a return on equity of 17.89% and a net margin of 31.69%.The company had revenue of $207.39 million during the quarter, compared to the consensus estimate of $199.30 million. During the same period in the previous year, the company posted $0.53 earnings per share. Rambus's revenue for the quarter was up 20.4% on a year-over-year basis. Equities analysts expect that Rambus, Inc. will post 2.52 EPS for the current year.

Wall Street Analysts Forecast Growth

RMBS has been the topic of several recent analyst reports. Glj Research set a $165.00 price objective on shares of Rambus in a report on Tuesday, July 28th. Rosenblatt Securities reiterated a "buy" rating and issued a $165.00 target price on shares of Rambus in a research note on Tuesday, July 28th. Benchmark reissued a "buy" rating on shares of Rambus in a research report on Tuesday, July 28th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Rambus in a report on Friday, June 5th. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $145.88.

Insiders Place Their Bets

In other Rambus news, Director Eric B. Stang sold 5,000 shares of Rambus stock in a transaction on Monday, June 1st. The shares were sold at an average price of $146.00, for a total transaction of $730,000.00. Following the sale, the director owned 19,218 shares of the company's stock, valued at $2,805,828. The trade was a 20.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Necip Sayiner sold 5,000 shares of the company's stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $170.15, for a total transaction of $850,750.00. Following the sale, the director directly owned 18,223 shares of the company's stock, valued at $3,100,643.45. The trade was a 21.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 20,000 shares of company stock worth $3,185,750. Corporate insiders own 0.75% of the company's stock.

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.

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