Rambus, Inc. $RMBS Position Lessened by Hillsdale Investment Management Inc.

Key Points

• Hillsdale Investment Management cut its Rambus stake by 21% in the fourth quarter, selling 23,710 shares and leaving it with 88,990 shares valued at about $8.18 million.
• Several other institutional investors increased their holdings, and institutions now own 88.54% of Rambus. Notably, Vanguard, Geode Capital, Invesco, and Alliancebernstein all added shares.
• Insiders have been selling Rambus stock, including CEO Luc Seraphin and Director Emiko Higashi, while analysts remain broadly positive with an average rating of “Moderate Buy” and an average target price of $130.43.

Hillsdale Investment Management Inc. decreased its stake in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 21.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 88,990 shares of the semiconductor company's stock after selling 23,710 shares during the period. Hillsdale Investment Management Inc. owned 0.08% of Rambus worth $8,177,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Rambus by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 12,701,773 shares of the semiconductor company's stock worth $1,323,525,000 after purchasing an additional 140,948 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Rambus by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 2,842,715 shares of the semiconductor company's stock worth $261,256,000 after purchasing an additional 94,214 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Rambus by 4.7% in the 3rd quarter. Invesco Ltd. now owns 2,432,032 shares of the semiconductor company's stock worth $253,418,000 after purchasing an additional 109,908 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Rambus by 0.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,928,697 shares of the semiconductor company's stock worth $200,966,000 after purchasing an additional 11,024 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of Rambus by 572.7% in the 3rd quarter. Alliancebernstein L.P. now owns 1,822,030 shares of the semiconductor company's stock worth $189,856,000 after purchasing an additional 1,551,159 shares during the last quarter. Institutional investors own 88.54% of the company's stock.

Insider Transactions at Rambus

In other news, CEO Luc Seraphin sold 39,914 shares of Rambus stock in a transaction 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 transaction, the chief executive officer directly owned 331,070 shares in the company, valued at approximately $32,653,434.10. This trade represents a 10.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Emiko Higashi sold 5,000 shares of Rambus stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $157.57, for a total value of $787,850.00. Following the transaction, the director owned 59,519 shares in the company, valued at approximately $9,378,408.83. This trade represents a 7.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 99,764 shares of company stock valued at $12,400,764 in the last quarter. Company insiders own 0.75% of the company's stock.

Analyst Ratings Changes

RMBS has been the topic of several analyst reports. Weiss Ratings cut Rambus from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, March 10th. Wells Fargo & Company raised their target price on Rambus from $115.00 to $145.00 and gave the company an "overweight" rating in a research report on Tuesday, April 28th. Jefferies Financial Group raised their target price on Rambus from $120.00 to $145.00 and gave the company a "buy" rating in a research report on Tuesday, April 28th. Robert W. Baird cut Rambus from an "outperform" rating to a "neutral" rating and set a $120.00 target price on the stock. in a research report on Tuesday, April 28th. Finally, Evercore restated an "outperform" rating and issued a $172.00 target price on shares of Rambus in a research report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $130.43.

Rambus Price Performance

RMBS opened at $145.46 on Friday. Rambus, Inc. has a 12 month low of $52.12 and a 12 month high of $161.80. The stock has a market cap of $15.73 billion, a P/E ratio of 69.27 and a beta of 1.79. The stock's 50 day moving average price is $118.55 and its 200 day moving average price is $105.92.

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

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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