Rambus, Inc. $RMBS Shares Sold by Comerica Bank

Key Points

• Comerica Bank cut its stake in Rambus by 45.2% in the fourth quarter, selling 25,265 shares and leaving it with 30,625 shares valued at about $2.81 million.
• Several large institutions (Vanguard, Invesco, AllianceBernstein, Bank of America and others) increased positions, and institutional investors now own 88.54% of the company.
• Company insiders have been selling: the CFO and CEO recently sold shares, with insiders offloading 61,123 shares (about $6.3 million) over the last 90 days, leaving insiders with just 0.75% ownership.

Comerica Bank cut its stake in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 45.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,625 shares of the semiconductor company's stock after selling 25,265 shares during the period. Comerica Bank's holdings in Rambus were worth $2,814,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Rambus by 1.1% in the third 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 in the last quarter. Invesco Ltd. grew its stake in shares of Rambus by 4.7% in the third 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 in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Rambus by 0.6% in the third 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 in the last quarter. Alliancebernstein L.P. grew its stake in shares of Rambus by 572.7% in the third 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 in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Rambus by 196.0% in the third quarter. Bank of America Corp DE now owns 1,550,665 shares of the semiconductor company's stock worth $161,579,000 after purchasing an additional 1,026,776 shares in the last quarter. Institutional investors own 88.54% of the company's stock.

Rambus Stock Down 0.4%

Shares of RMBS stock opened at $111.50 on Tuesday. The stock has a 50-day simple moving average of $103.04 and a 200 day simple moving average of $101.66. Rambus, Inc. has a fifty-two week low of $49.29 and a fifty-two week high of $161.80. The stock has a market capitalization of $12.06 billion, a P/E ratio of 53.10 and a beta of 1.79.

Rambus (NASDAQ:RMBS - Get Free Report) last announced its earnings results on Monday, April 27th. The semiconductor company reported $0.63 earnings per share 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 business had revenue of $180.19 million during the quarter, compared to analysts' expectations of $179.94 million. On average, sell-side analysts anticipate that Rambus, Inc. will post 2.44 earnings per share for the current year.

Insider Activity at Rambus

In related news, CFO Desmond Lynch sold 4,273 shares of the firm's stock in a transaction dated Monday, February 23rd. The stock was 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 owned 63,618 shares of the company's stock, valued at $6,459,135.54. This trade represents a 6.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Luc Seraphin sold 39,914 shares of the firm's stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $98.63, for a total value of $3,936,717.82. Following the transaction, the chief executive officer directly owned 331,070 shares of the company's stock, valued at $32,653,434.10. This represents a 10.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 61,123 shares of company stock valued at $6,295,577 over the last 90 days. 0.75% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on RMBS shares. Zacks Research raised Rambus to a "hold" rating in a research note on Monday, January 26th. Evercore reissued an "outperform" rating and issued a $172.00 price target on shares of Rambus in a research note on Tuesday, April 28th. Rosenblatt Securities increased their price target on Rambus from $130.00 to $150.00 and gave the stock a "buy" rating in a research note on Tuesday, April 28th. William Blair started coverage on Rambus in a research note on Thursday, January 22nd. They issued an "outperform" rating for the company. Finally, Robert W. Baird cut Rambus from an "outperform" rating to a "neutral" rating and set a $120.00 price target for the company. in a research note on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price 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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