Danske Bank A S Lowers Position in Rambus, Inc. $RMBS

Key Points

• Danske Bank A S cut its stake in Rambus by 23.1% in Q4, selling 23,330 shares and finishing with 77,728 shares valued at about $7.14 million.
• Several large institutions materially increased positions (e.g., AllianceBernstein added ~1.55M shares; Bank of America added ~1.03M), and hedge funds/institutions now own about 88.54% of the company.
• Rambus has a market cap of $12.06 billion, recently beat EPS estimates ($0.63 vs. $0.61), and carries a consensus Moderate Buy rating with a $130.43 target from analysts.

Danske Bank A S cut its holdings in shares of Rambus, Inc. (NASDAQ:RMBS - Free Report) by 23.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 77,728 shares of the semiconductor company's stock after selling 23,330 shares during the quarter. Danske Bank A S owned about 0.07% of Rambus worth $7,142,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of RMBS. Alliancebernstein L.P. grew its holdings in shares of Rambus by 572.7% during the 3rd quarter. Alliancebernstein L.P. now owns 1,822,030 shares of the semiconductor company's stock worth $189,856,000 after purchasing an additional 1,551,159 shares during the period. Bank of America Corp DE grew its holdings in shares of Rambus by 196.0% during the 3rd quarter. Bank of America Corp DE now owns 1,550,665 shares of the semiconductor company's stock worth $161,579,000 after purchasing an additional 1,026,776 shares during the period. Rafferty Asset Management LLC purchased a new position in shares of Rambus during the 3rd quarter worth $93,962,000. Barclays PLC grew its holdings in shares of Rambus by 183.1% during the 3rd quarter. Barclays PLC now owns 894,906 shares of the semiconductor company's stock worth $93,249,000 after purchasing an additional 578,839 shares during the period. Finally, AQR Capital Management LLC grew its holdings in shares of Rambus by 192.8% during the 2nd quarter. AQR Capital Management LLC now owns 701,746 shares of the semiconductor company's stock worth $44,926,000 after purchasing an additional 462,116 shares during the period. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Rambus Price Performance

RMBS stock opened at $111.50 on Tuesday. The firm has a market capitalization of $12.06 billion, a P/E ratio of 53.10 and a beta of 1.79. The business's 50-day moving average is $103.04 and its two-hundred day moving average is $101.66. Rambus, Inc. has a 1 year low of $49.29 and a 1 year high of $161.80.

Rambus (NASDAQ:RMBS - Get Free Report) last issued its earnings results on Monday, April 27th. The semiconductor company reported $0.63 earnings per share for the quarter, topping 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 business had revenue of $180.19 million for the quarter, compared to analyst estimates of $179.94 million. On average, analysts expect that Rambus, Inc. will post 2.44 EPS for the current year.

Insider Transactions at Rambus

In other news, CEO Luc Seraphin sold 5,426 shares of the firm's stock in a transaction dated 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 owned 345,767 shares of the company's stock, valued at approximately $29,960,710.55. This trade represents a 1.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Meera Rao sold 2,972 shares of the firm's stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $150.30, for a total value of $446,691.60. Following the sale, the director directly owned 19,974 shares in the company, valued at $3,002,092.20. This trade represents a 12.95% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 61,123 shares of company stock valued at $6,295,577. Corporate insiders own 0.75% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Weiss Ratings cut Rambus from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, March 10th. Susquehanna lowered their target price on Rambus from $100.00 to $90.00 and set a "neutral" rating for the company in a report on Tuesday, February 3rd. Wells Fargo & Company raised 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. Evercore restated an "outperform" rating and set a $172.00 target price on shares of Rambus in a report on Tuesday, April 28th. Finally, Jefferies Financial Group increased their price target on Rambus from $120.00 to $145.00 and gave the company a "buy" rating in a research 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 assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $130.43.

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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