Assetmark Inc. Has $10.18 Million Position in Rambus, Inc. $RMBS

Key Points

• Assetmark Inc. trimmed its Rambus stake by 8.6% in Q4, selling 10,395 shares and ending the period with 110,754 shares worth about $10.18 million; institutional investors own roughly 88.54% of the company.
• Quarterly results: Rambus reported $0.68 EPS (in line with estimates) and revenue of $190.24 million (slightly above consensus), with a 32.57% net margin and analysts forecasting about 1.89 EPS for the year.
• Insider selling has been significant—CEO and a director recently sold shares and insiders disposed of 58,151 shares (~$5.85M) in the last three months, leaving insiders with roughly 0.75% ownership; the consensus analyst rating is a "Moderate Buy" with a $105.71 price target.

Assetmark Inc. lowered its holdings in shares of Rambus, Inc. (NASDAQ:RMBS - Free Report) by 8.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,754 shares of the semiconductor company's stock after selling 10,395 shares during the period. Assetmark Inc. owned about 0.10% of Rambus worth $10,177,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Hussman Strategic Advisors Inc. bought a new position in shares of Rambus during the third quarter valued at $1,094,000. Nordea Investment Management AB lifted its holdings in shares of Rambus by 101.7% during the third quarter. Nordea Investment Management AB now owns 139,430 shares of the semiconductor company's stock valued at $14,669,000 after acquiring an additional 70,314 shares during the period. Baader Bank Aktiengesellschaft bought a new position in shares of Rambus during the third quarter valued at $1,149,000. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of Rambus by 57.0% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 52,435 shares of the semiconductor company's stock valued at $5,464,000 after acquiring an additional 19,046 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Rambus by 1,320.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 129,676 shares of the semiconductor company's stock valued at $13,512,000 after acquiring an additional 120,549 shares during the period. Institutional investors and hedge funds own 88.54% of the company's stock.

Rambus Price Performance

Shares of NASDAQ RMBS opened at $126.93 on Friday. The stock's fifty day moving average price is $98.28 and its two-hundred day moving average price is $99.71. Rambus, Inc. has a one year low of $43.21 and a one year high of $135.75. The firm has a market cap of $13.73 billion, a price-to-earnings ratio of 60.16 and a beta of 1.63.

Rambus (NASDAQ:RMBS - Get Free Report) last issued its quarterly earnings data on Monday, February 2nd. The semiconductor company reported $0.68 EPS for the quarter, meeting analysts' consensus estimates of $0.68. The firm had revenue of $190.24 million for the quarter, compared to analyst estimates of $188.21 million. Rambus had a return on equity of 17.69% and a net margin of 32.57%. On average, equities analysts anticipate that Rambus, Inc. will post 1.89 earnings per share for the current fiscal year.

Insider Transactions at Rambus

In other news, CEO Luc Seraphin sold 5,426 shares of the stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $86.65, for a total transaction of $470,162.90. Following the sale, the chief executive officer directly owned 345,767 shares of the company's stock, valued at approximately $29,960,710.55. This represents a 1.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Meera Rao sold 8,538 shares of the company's stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $118.08, for a total value of $1,008,167.04. Following the sale, the director owned 22,946 shares of the company's stock, valued at approximately $2,709,463.68. This represents a 27.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 58,151 shares of company stock valued at $5,848,885. 0.75% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

RMBS has been the subject of a number of analyst reports. Zacks Research raised Rambus to a "hold" rating in a report on Monday, January 26th. Susquehanna cut their price target on Rambus from $100.00 to $90.00 and set a "neutral" rating for the company in a report on Tuesday, February 3rd. Evercore lowered their price objective on Rambus from $126.00 to $119.00 and set an "outperform" rating for the company in a research report on Tuesday, February 3rd. William Blair assumed coverage on Rambus in a research report on Thursday, January 22nd. They set an "outperform" rating for the company. Finally, Weiss Ratings lowered Rambus from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, March 10th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $105.71.

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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