M&T Bank Corp Raises Stock Position in Rambus, Inc. $RMBS

M&T Bank Corp increased its stake in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 2,372.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 122,636 shares of the semiconductor company's stock after purchasing an additional 117,675 shares during the quarter. M&T Bank Corp owned 0.11% of Rambus worth $11,269,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Hussman Strategic Advisors Inc. purchased a new position in shares of Rambus during the 3rd quarter worth $1,094,000. Nordea Investment Management AB boosted its stake in shares of Rambus by 101.7% during the 3rd quarter. Nordea Investment Management AB now owns 139,430 shares of the semiconductor company's stock worth $14,669,000 after acquiring an additional 70,314 shares during the last quarter. Baader Bank Aktiengesellschaft purchased a new position in shares of Rambus during the 3rd quarter worth $1,149,000. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of Rambus by 57.0% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 52,435 shares of the semiconductor company's stock worth $5,464,000 after acquiring an additional 19,046 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Rambus by 1,320.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 129,676 shares of the semiconductor company's stock worth $13,512,000 after acquiring an additional 120,549 shares during the last quarter. Hedge funds and other institutional investors own 88.54% of the company's stock.

Rambus Price Performance

Shares of RMBS stock opened at $158.40 on Friday. The company has a market capitalization of $17.13 billion, a price-to-earnings ratio of 75.07 and a beta of 1.63. Rambus, Inc. has a one year low of $46.57 and a one year high of $161.80. The company's fifty day moving average price is $101.69 and its 200-day moving average price is $100.92.

Rambus (NASDAQ:RMBS - Get Free Report) last announced its quarterly earnings data on Monday, February 2nd. The semiconductor company reported $0.68 EPS for the quarter, meeting the consensus estimate of $0.68. The firm had revenue of $190.24 million for the quarter, compared to the consensus estimate of $188.21 million. Rambus had a net margin of 32.57% and a return on equity of 17.69%. Equities research analysts expect that Rambus, Inc. will post 2.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on RMBS shares. Evercore dropped their price target on shares of Rambus from $126.00 to $119.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 3rd. Weiss Ratings cut shares of Rambus from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, March 10th. Susquehanna dropped their price target on shares of Rambus from $100.00 to $90.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 3rd. William Blair assumed coverage on shares of Rambus in a research report on Thursday, January 22nd. They set an "outperform" rating on the stock. Finally, Rosenblatt Securities restated a "buy" rating and set a $130.00 price objective on shares of Rambus in a research report on Tuesday, February 3rd. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Rambus presently has a consensus rating of "Moderate Buy" and an average target price of $105.71.

Insider Activity

In other news, Director Meera Rao sold 8,538 shares of the firm's stock in a transaction on 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 sale, the director directly owned 22,946 shares in the company, valued at $2,709,463.68. This trade represents a 27.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Desmond Lynch sold 4,273 shares of the firm's stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $101.53, for a total transaction of $433,837.69. Following the sale, the chief financial officer owned 63,618 shares in the company, valued at $6,459,135.54. The trade was a 6.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 58,151 shares of company stock worth $5,848,885 in the last three months. Company insiders own 0.75% of the company's stock.

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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