GF Fund Management CO. LTD. Reduces Stock Position in Rambus, Inc. $RMBS

Key Points

• GF Fund Management cut its position in Rambus by 81.3% in Q4, selling 69,318 shares and leaving 15,975 shares valued at about $1.47 million.
• Company insiders have been net sellers recently — CEO Luc Seraphin sold 39,914 shares (~$3.94M) and director Meera Rao sold 8,538 shares, with insiders offloading 58,151 shares worth roughly $5.85M in the past 90 days and insider ownership at about 0.75%.
• Institutional investors still own 88.54% of Rambus, analysts' consensus is a Moderate Buy with an average target of $105.71, and the stock trades near $126.93 with a market cap of ~$13.7 billion and a P/E around 60.

GF Fund Management CO. LTD. lowered its position in shares of Rambus, Inc. (NASDAQ:RMBS - Free Report) by 81.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,975 shares of the semiconductor company's stock after selling 69,318 shares during the period. GF Fund Management CO. LTD.'s holdings in Rambus were worth $1,468,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Rambus by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 12,701,773 shares of the semiconductor company's stock valued at $1,323,525,000 after buying an additional 140,948 shares during the period. Invesco Ltd. boosted its position in Rambus by 4.7% during the 3rd quarter. Invesco Ltd. now owns 2,432,032 shares of the semiconductor company's stock valued at $253,418,000 after buying an additional 109,908 shares during the period. Dimensional Fund Advisors LP boosted its position in Rambus by 0.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,928,697 shares of the semiconductor company's stock valued at $200,966,000 after buying an additional 11,024 shares during the period. Alliancebernstein L.P. boosted its position in Rambus by 572.7% during the 3rd 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 period. Finally, Bank of America Corp DE boosted its position in 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 valued at $161,579,000 after buying an additional 1,026,776 shares during the period. Hedge funds and other institutional investors own 88.54% of the company's stock.

Wall Street Analysts Forecast Growth

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

Rambus Trading Up 5.7%

Shares of NASDAQ RMBS opened at $126.93 on Friday. Rambus, Inc. has a 12 month low of $43.21 and a 12 month high of $135.75. The firm has a market capitalization of $13.73 billion, a PE ratio of 60.16 and a beta of 1.63. The firm has a fifty day simple moving average of $98.28 and a two-hundred day simple moving average of $99.68.

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, hitting the consensus estimate of $0.68. Rambus had a net margin of 32.57% and a return on equity of 17.69%. The business had revenue of $190.24 million during the quarter, compared to analyst estimates of $188.21 million. On average, sell-side analysts predict that Rambus, Inc. will post 1.89 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Luc Seraphin sold 39,914 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $98.63, for a total value of $3,936,717.82. Following the completion of the transaction, the chief executive officer directly owned 331,070 shares in the company, valued at $32,653,434.10. This trade represents a 10.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Meera Rao sold 8,538 shares of Rambus stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $118.08, for a total transaction of $1,008,167.04. Following the transaction, the director directly owned 22,946 shares of the company's stock, valued at approximately $2,709,463.68. This trade represents a 27.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 58,151 shares of company stock worth $5,848,885. 0.75% of the stock is currently owned by corporate insiders.

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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