Neuberger Berman Group LLC Purchases 133,970 Shares of Rambus, Inc. $RMBS

Key Points

• Neuberger Berman Group LLC increased its stake in Rambus by 9.9% in Q3, buying 133,970 shares to own 1,482,008 shares (about 1.38% of the company) valued at approximately $154.4 million.
• Insider sales: CEO Luc Seraphin sold 39,914 shares for about $3.94 million (reducing his holding by 10.76%) and CFO Desmond Lynch sold 4,273 shares for roughly $433,838, leaving insiders with about 1.00% ownership.
• Stock and analyst snapshot: Rambus opened at $88.12 (down 4.1%), has a $9.5 billion market cap and a P/E of ~41.8, and carries an average analyst rating of "Buy" with a consensus price target of $105.71.

Neuberger Berman Group LLC lifted its position in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 9.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,482,008 shares of the semiconductor company's stock after buying an additional 133,970 shares during the period. Neuberger Berman Group LLC owned approximately 1.38% of Rambus worth $154,413,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of RMBS. Steigerwald Gordon & Koch Inc. purchased a new stake in Rambus during the third quarter valued at $25,000. True Wealth Design LLC boosted its position in Rambus by 162.5% in the second quarter. True Wealth Design LLC now owns 420 shares of the semiconductor company's stock worth $27,000 after purchasing an additional 260 shares during the last quarter. Abound Wealth Management bought a new stake in shares of Rambus during the 3rd quarter valued at about $28,000. Hantz Financial Services Inc. grew its stake in shares of Rambus by 1,386.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 639 shares of the semiconductor company's stock valued at $41,000 after purchasing an additional 596 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in shares of Rambus by 83.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 777 shares of the semiconductor company's stock valued at $50,000 after purchasing an additional 353 shares during the last quarter. Institutional investors own 88.54% of the company's stock.

Rambus Stock Down 4.1%

Shares of Rambus stock opened at $88.12 on Friday. Rambus, Inc. has a twelve month low of $40.12 and a twelve month high of $135.75. The business has a 50-day moving average price of $102.39 and a 200-day moving average price of $97.08. The firm has a market cap of $9.50 billion, a price-to-earnings ratio of 41.76 and a beta of 1.55.

Rambus (NASDAQ:RMBS - Get Free Report) last announced its quarterly earnings results on Monday, February 2nd. The semiconductor company reported $0.68 EPS for the quarter, meeting analysts' consensus estimates of $0.68. The company had revenue of $190.24 million during the quarter, compared to analyst estimates of $188.21 million. Rambus had a return on equity of 17.69% and a net margin of 32.57%. On average, equities analysts expect that Rambus, Inc. will post 1.89 EPS for the current fiscal year.

Insider Activity at Rambus

In other news, CEO Luc Seraphin sold 39,914 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $98.63, for a total transaction 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 approximately $32,653,434.10. This represents a 10.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 completion of the transaction, the chief financial officer directly owned 63,618 shares of the company's stock, valued at approximately $6,459,135.54. This trade represents a 6.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on RMBS shares. Rosenblatt Securities reiterated a "buy" rating and issued a $130.00 price objective on shares of Rambus in a research note on Tuesday, February 3rd. Zacks Research raised shares of Rambus to a "hold" rating in a report on Monday, January 26th. William Blair started coverage on shares of Rambus in a research report on Thursday, January 22nd. They issued an "outperform" rating on the stock. Cfra cut shares of Rambus from a "hold" rating to a "moderate sell" rating in a research note on Monday, December 15th. Finally, Susquehanna cut their price objective 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. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $105.71.

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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