Granahan Investment Management LLC Increases Stock Position in Rambus, Inc. $RMBS

Key Points

• Granahan Investment Management increased its stake in Rambus by 11.4% in the fourth quarter, adding 27,073 shares to bring its total holding to 265,516 shares worth about $24.4 million.
• Insiders have been selling shares: directors Meera Rao and Necip Sayiner both disclosed recent stock sales, and insiders sold 79,850 shares worth about $11.65 million over the last quarter.
• Rambus beat earnings expectations in its latest quarterly report, posting $0.63 EPS versus the $0.61 consensus and slightly topping revenue estimates, while analysts currently rate the stock a Moderate Buy with an average price target of $130.43.

Granahan Investment Management LLC boosted its position in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 11.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 265,516 shares of the semiconductor company's stock after buying an additional 27,073 shares during the period. Rambus makes up about 1.0% of Granahan Investment Management LLC's holdings, making the stock its 29th biggest position. Granahan Investment Management LLC owned approximately 0.25% of Rambus worth $24,398,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RMBS. NewEdge Advisors LLC grew its position in Rambus by 22,321.4% in the 1st quarter. NewEdge Advisors LLC now owns 9,417 shares of the semiconductor company's stock valued at $488,000 after buying an additional 9,375 shares during the last quarter. Empowered Funds LLC grew its position in Rambus by 34.1% in the 1st quarter. Empowered Funds LLC now owns 22,750 shares of the semiconductor company's stock valued at $1,178,000 after buying an additional 5,783 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Rambus by 6.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 309,512 shares of the semiconductor company's stock valued at $16,025,000 after buying an additional 19,120 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Rambus in the 1st quarter valued at $218,000. Finally, Quantbot Technologies LP purchased a new position in Rambus in the 2nd quarter valued at $102,000. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Rambus news, Director Meera Rao sold 2,972 shares of the firm's stock in a transaction on Friday, April 24th. The stock was sold at an average price of $150.30, for a total value of $446,691.60. Following the completion of the sale, the director owned 19,974 shares of the company's stock, valued at approximately $3,002,092.20. This trade represents a 12.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Necip Sayiner sold 5,000 shares of Rambus stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $170.15, for a total value of $850,750.00. Following the transaction, the director directly owned 18,223 shares of the company's stock, valued at $3,100,643.45. This trade represents a 21.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 79,850 shares of company stock valued at $11,649,796 in the last quarter. Corporate insiders own 0.75% of the company's stock.

Rambus Stock Performance

Rambus stock opened at $132.48 on Wednesday. Rambus, Inc. has a one year low of $58.82 and a one year high of $174.10. The business has a fifty day moving average of $132.80 and a two-hundred day moving average of $110.71. The company has a market cap of $14.33 billion, a P/E ratio of 63.09 and a beta of 1.84.

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RMBS. Rosenblatt Securities lifted their price objective on shares of Rambus from $130.00 to $150.00 and gave the company a "buy" rating in a research report on Tuesday, April 28th. Jefferies Financial Group lifted their price objective on shares of Rambus from $120.00 to $145.00 and gave the company a "buy" rating in a research report on Tuesday, April 28th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Rambus in a research report on Friday, June 5th. 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. Finally, Evercore reissued an "outperform" rating and issued a $172.00 target price on shares of Rambus 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 issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target 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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