Emerald Mutual Fund Advisers Trust Cuts Position in Rambus, Inc. $RMBS

Key Points

• Emerald Mutual Fund Advisers Trust cut its Rambus position by 21.5% in the first quarter, selling 83,967 shares and leaving it with 307,248 shares valued at about $26.4 million.
• Analysts remain generally positive on Rambus, with a Moderate Buy consensus and an average price target of $130.43, though one firm recently downgraded the stock to neutral.
• Insider selling has been notable, including recent sales by two directors, and Rambus shares were trading down about 8% at $103.11, well below their 12-month high.

Emerald Mutual Fund Advisers Trust decreased its holdings in shares of Rambus, Inc. (NASDAQ:RMBS - Free Report) by 21.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 307,248 shares of the semiconductor company's stock after selling 83,967 shares during the quarter. Rambus comprises approximately 1.3% of Emerald Mutual Fund Advisers Trust's holdings, making the stock its 18th biggest holding. Emerald Mutual Fund Advisers Trust owned approximately 0.28% of Rambus worth $26,433,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RMBS. Acumen Wealth Advisors LLC acquired a new position in shares of Rambus during the fourth quarter worth $25,000. Torren Management LLC acquired a new position in shares of Rambus in the 4th quarter valued at approximately $26,000. Spire Wealth Management raised its position in shares of Rambus by 199.0% in the 4th quarter. Spire Wealth Management now owns 302 shares of the semiconductor company's stock valued at $28,000 after purchasing an additional 201 shares in the last quarter. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Rambus during the 4th quarter valued at approximately $28,000. Finally, IFP Advisors Inc grew its position in shares of Rambus by 126.7% during the third quarter. IFP Advisors Inc now owns 442 shares of the semiconductor company's stock worth $47,000 after buying an additional 247 shares in the last quarter. 88.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RMBS. Weiss Ratings restated a "hold (c+)" rating on shares of Rambus in a research note on Friday, June 5th. Robert W. Baird downgraded shares of Rambus from an "outperform" rating to a "neutral" rating and set a $120.00 price objective on the stock. in a research note on Tuesday, April 28th. Evercore reissued an "outperform" rating and issued a $172.00 target price on shares of Rambus in a research report on Tuesday, April 28th. Wells Fargo & Company upped their target price on shares of Rambus from $115.00 to $145.00 and gave the company an "overweight" rating in a research note on Tuesday, April 28th. Finally, Jefferies Financial Group increased their price target on shares of Rambus from $120.00 to $145.00 and gave the stock a "buy" rating in a research report on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Rambus currently has an average rating of "Moderate Buy" and an average target price of $130.43.

Insider Buying and Selling

In other news, Director Necip Sayiner sold 5,000 shares of Rambus stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $170.15, for a total value of $850,750.00. Following the completion of the transaction, the director directly owned 18,223 shares of the company's stock, valued at approximately $3,100,643.45. The trade was a 21.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Eric B. Stang sold 5,000 shares of Rambus stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $146.00, for a total transaction of $730,000.00. Following the completion of the transaction, the director directly owned 19,218 shares of the company's stock, valued at $2,805,828. This trade represents a 20.65% 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 worth $10,171,466. Company insiders own 0.75% of the company's stock.

Rambus Trading Down 8.0%

RMBS stock opened at $103.11 on Tuesday. The firm has a market cap of $11.15 billion, a P/E ratio of 49.10 and a beta of 1.84. Rambus, Inc. has a 12-month low of $61.16 and a 12-month high of $174.10. The stock's 50 day simple moving average is $133.58 and its 200 day simple moving average is $113.91.

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