Rambus, Inc. $RMBS Shares Sold by Schwartz Investment Counsel Inc.

Key Points

• Schwartz Investment Counsel reduced its Rambus stake by 21.7% in the fourth quarter, selling 50,000 shares and leaving it with 180,337 shares worth about $16.6 million.
• Rambus reported better-than-expected quarterly earnings, posting $0.63 EPS versus the $0.61 consensus, while revenue of $180.19 million slightly beat estimates.
• Analyst sentiment remains positive, with several firms raising price targets; the stock has a consensus rating of “Moderate Buy” and an average target of $130.43.

Schwartz Investment Counsel Inc. cut its stake in shares of Rambus, Inc. (NASDAQ:RMBS - Free Report) by 21.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 180,337 shares of the semiconductor company's stock after selling 50,000 shares during the quarter. Schwartz Investment Counsel Inc. owned approximately 0.17% of Rambus worth $16,571,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Rambus by 1.1% in the third quarter. Vanguard Group Inc. now owns 12,701,773 shares of the semiconductor company's stock valued at $1,323,525,000 after purchasing an additional 140,948 shares in the last quarter. Invesco Ltd. boosted its holdings in Rambus by 4.7% in the third quarter. Invesco Ltd. now owns 2,432,032 shares of the semiconductor company's stock valued at $253,418,000 after purchasing an additional 109,908 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Rambus by 0.6% in the third quarter. Dimensional Fund Advisors LP now owns 1,928,697 shares of the semiconductor company's stock valued at $200,966,000 after purchasing an additional 11,024 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in Rambus by 572.7% in the third quarter. Alliancebernstein L.P. now owns 1,822,030 shares of the semiconductor company's stock valued at $189,856,000 after purchasing an additional 1,551,159 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in 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 valued at $161,579,000 after purchasing an additional 1,026,776 shares in the last quarter. 88.54% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Rambus

In other news, Director Meera Rao sold 2,972 shares of the company's stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $150.30, for a total transaction of $446,691.60. Following the completion of the sale, the director owned 19,974 shares in the company, valued at $3,002,092.20. This represents a 12.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Luc Seraphin sold 5,426 shares of the company's stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $86.65, for a total value of $470,162.90. Following the sale, 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 61,123 shares of company stock worth $6,295,577 over the last 90 days. 0.75% of the stock is currently owned by insiders.

Rambus Trading Down 3.1%

RMBS stock opened at $130.28 on Wednesday. The company has a market capitalization of $14.09 billion, a P/E ratio of 62.04 and a beta of 1.79. Rambus, Inc. has a twelve month low of $52.12 and a twelve month high of $161.80. The business has a 50 day simple moving average of $106.43 and a 200-day simple moving average of $102.98.

Rambus (NASDAQ:RMBS - Get Free Report) last released its quarterly earnings results on Monday, April 27th. The semiconductor company reported $0.63 EPS for the quarter, topping 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. Research analysts predict that Rambus, Inc. will post 2.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on RMBS shares. Wells Fargo & Company upped their price target on Rambus from $115.00 to $145.00 and gave the company an "overweight" rating in a report on Tuesday, April 28th. William Blair started coverage on Rambus in a report on Thursday, January 22nd. They issued an "outperform" rating for the company. Jefferies Financial Group upped their price target on Rambus from $120.00 to $145.00 and gave the company a "buy" rating in a report on Tuesday, April 28th. Robert W. Baird downgraded Rambus from an "outperform" rating to a "neutral" rating and set a $120.00 price target for the company. in a report on Tuesday, April 28th. Finally, Susquehanna lowered their price target on Rambus from $100.00 to $90.00 and set a "neutral" rating for the company in a report on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $130.43.

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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