Novem Group Acquires Shares of 9,632 Rambus, Inc. $RMBS

Key Points

• Novem Group purchased a new stake of 9,632 shares in Rambus during Q4, valued at approximately $885,000, as reported in its SEC filing.
• Insider selling has been notable: Director Meera Rao sold 8,538 shares and CEO Luc Seraphin sold 5,426 shares recently, with insiders selling 58,151 shares in the past 90 days and now owning 0.75% of the company.
• Rambus shares opened at $130.45 (up 2.8%), the company has a market cap of $14.11 billion and a P/E of 61.82, and analysts' consensus is a Moderate Buy with a $105.71 target price.

Novem Group bought a new stake in Rambus, Inc. (NASDAQ:RMBS - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 9,632 shares of the semiconductor company's stock, valued at approximately $885,000.

Several other large investors have also modified their holdings of RMBS. Krilogy Financial LLC grew its position in Rambus by 5.3% in the 4th quarter. Krilogy Financial LLC now owns 2,157 shares of the semiconductor company's stock valued at $198,000 after buying an additional 108 shares during the last quarter. Allworth Financial LP lifted its stake in shares of Rambus by 8.2% in the 3rd quarter. Allworth Financial LP now owns 1,601 shares of the semiconductor company's stock worth $167,000 after acquiring an additional 121 shares during the period. Coldstream Capital Management Inc. lifted its stake in shares of Rambus by 2.2% in the 3rd quarter. Coldstream Capital Management Inc. now owns 5,703 shares of the semiconductor company's stock worth $594,000 after acquiring an additional 125 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Rambus by 3.3% in the fourth quarter. GAMMA Investing LLC now owns 4,833 shares of the semiconductor company's stock valued at $444,000 after acquiring an additional 153 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its stake in shares of Rambus by 19.0% during the third quarter. Farther Finance Advisors LLC now owns 1,045 shares of the semiconductor company's stock worth $109,000 after acquiring an additional 167 shares during the period. Hedge funds and other institutional investors own 88.54% of the company's stock.

Rambus Trading Up 2.8%

Shares of Rambus stock opened at $130.45 on Wednesday. The company has a 50-day moving average of $99.07 and a two-hundred day moving average of $100.04. Rambus, Inc. has a 12-month low of $43.78 and a 12-month high of $135.75. The stock has a market cap of $14.11 billion, a PE ratio of 61.82 and a beta of 1.63.

Rambus (NASDAQ:RMBS - Get Free Report) last released its quarterly earnings results on Monday, February 2nd. The semiconductor company reported $0.68 earnings per share for the quarter, hitting analysts' consensus estimates of $0.68. The business had revenue of $190.24 million for the quarter, compared to analysts' expectations of $188.21 million. Rambus had a return on equity of 17.69% and a net margin of 32.57%. On average, sell-side analysts forecast that Rambus, Inc. will post 2.49 EPS for the current fiscal year.

Insider Buying and Selling at Rambus

In related news, Director Meera Rao sold 8,538 shares of the stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $118.08, for a total value of $1,008,167.04. Following the sale, the director directly owned 22,946 shares of the company's stock, valued at approximately $2,709,463.68. This represents a 27.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Luc Seraphin sold 5,426 shares of the firm's stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $86.65, for a total transaction of $470,162.90. Following the transaction, the chief executive officer owned 345,767 shares of the company's stock, valued at $29,960,710.55. This trade represents a 1.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 58,151 shares of company stock valued at $5,848,885. Insiders own 0.75% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Weiss Ratings cut shares of Rambus from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, March 10th. Susquehanna dropped their target price on Rambus from $100.00 to $90.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 3rd. Evercore reduced their price target on Rambus from $126.00 to $119.00 and set an "outperform" rating for the company in a report on Tuesday, February 3rd. Zacks Research upgraded Rambus to a "hold" rating in a research note on Monday, January 26th. Finally, William Blair assumed coverage on Rambus in a report on Thursday, January 22nd. They set an "outperform" rating on the stock. Two investment 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 company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price 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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