Bank of New York Mellon Corp Sells 504,182 Shares of Rambus, Inc. $RMBS

Bank of New York Mellon Corp lowered its stake in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 31.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,094,156 shares of the semiconductor company's stock after selling 504,182 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.02% of Rambus worth $100,542,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank bought a new position in shares of Rambus during the 4th quarter valued at about $156,356,000. Alliancebernstein L.P. grew its stake in shares of Rambus by 572.7% during the third quarter. Alliancebernstein L.P. now owns 1,822,030 shares of the semiconductor company's stock valued at $189,856,000 after buying an additional 1,551,159 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Rambus by 196.0% during the third quarter. Bank of America Corp DE now owns 1,550,665 shares of the semiconductor company's stock valued at $161,579,000 after buying an additional 1,026,776 shares during the last quarter. Rafferty Asset Management LLC purchased a new position in shares of Rambus in the third quarter worth about $93,962,000. Finally, Barclays PLC lifted its stake in shares of Rambus by 183.1% in the 3rd quarter. Barclays PLC now owns 894,906 shares of the semiconductor company's stock valued at $93,249,000 after acquiring an additional 578,839 shares during the last quarter. Hedge funds and other institutional investors own 88.54% of the company's stock.

Insider Transactions at Rambus

In related news, CEO Luc Seraphin sold 5,426 shares of Rambus stock in a transaction that occurred 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 in the company, valued at $29,960,710.55. The trade was a 1.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Xianzhi Sean Fan sold 37,914 shares of the company's stock in a transaction 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 completion of the sale, the executive vice president directly owned 168,358 shares in the company, valued at approximately $25,538,225.02. The trade was a 18.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 79,850 shares of company stock worth $11,649,796. 0.75% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on RMBS. Jefferies Financial Group increased their target price on Rambus from $120.00 to $145.00 and gave the company a "buy" rating in a report on Tuesday, April 28th. Robert W. Baird lowered Rambus from an "outperform" rating to a "neutral" rating and set a $120.00 price objective for the company. in a research note on Tuesday, April 28th. Evercore reaffirmed an "outperform" rating and issued a $172.00 target price on shares of Rambus in a research note on Tuesday, April 28th. Weiss Ratings lowered shares of Rambus from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, March 10th. Finally, Wells Fargo & Company raised their price target on shares of Rambus from $115.00 to $145.00 and gave the stock an "overweight" rating in a report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Rambus has an average rating of "Moderate Buy" and a consensus price target of $130.43.

Rambus Price Performance

Shares of Rambus stock opened at $145.31 on Monday. The business has a 50 day moving average of $125.18 and a 200 day moving average of $108.10. Rambus, Inc. has a 52 week low of $57.12 and a 52 week high of $174.10. The company has a market cap of $15.71 billion, a PE ratio of 69.20 and a beta of 1.84.

Rambus (NASDAQ:RMBS - Get Free Report) last issued its quarterly earnings data on Monday, April 27th. The semiconductor company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.61 by $0.02. Rambus had a net margin of 31.90% and a return on equity of 17.41%. The business had revenue of $180.19 million during the quarter, compared to analyst estimates of $179.94 million. On average, research analysts anticipate that Rambus, Inc. will post 2.44 earnings per share for the current year.

Rambus Company 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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