Rambus, Inc. $RMBS Shares Sold by Westfield Capital Management Co. LP

Key Points

• Westfield Capital Management reduced its Rambus stake by 25.3% in the fourth quarter, selling 122,373 shares and leaving it with 362,092 shares worth about $33.3 million.
• Rambus reported better-than-expected quarterly results, posting EPS of $0.63 versus $0.61 expected and revenue of $180.19 million, slightly above estimates.
• Institutional ownership remains high at 88.54%, while recent insider activity shows directors sold shares and analysts currently rate the stock a Moderate Buy with a consensus target price of $130.43.

Westfield Capital Management Co. LP cut its stake in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 25.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 362,092 shares of the semiconductor company's stock after selling 122,373 shares during the period. Westfield Capital Management Co. LP owned approximately 0.34% of Rambus worth $33,273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Northwestern Mutual Investment Management Company LLC boosted its position in shares of Rambus by 0.4% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 24,085 shares of the semiconductor company's stock valued at $2,213,000 after acquiring an additional 103 shares during the last quarter. Krilogy Financial LLC grew its holdings in shares of Rambus by 5.3% in the fourth quarter. Krilogy Financial LLC now owns 2,157 shares of the semiconductor company's stock valued at $198,000 after purchasing an additional 108 shares during the period. Ashton Thomas Private Wealth LLC increased its position in Rambus by 3.3% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,445 shares of the semiconductor company's stock worth $317,000 after purchasing an additional 110 shares during the last quarter. Allworth Financial LP raised its stake in Rambus by 8.2% during the third quarter. Allworth Financial LP now owns 1,601 shares of the semiconductor company's stock worth $167,000 after purchasing an additional 121 shares during the period. Finally, Coldstream Capital Management Inc. raised its stake in Rambus by 2.2% during the third quarter. Coldstream Capital Management Inc. now owns 5,703 shares of the semiconductor company's stock worth $594,000 after purchasing an additional 125 shares during the period. Institutional investors and hedge funds own 88.54% of the company's stock.

Rambus Stock Performance

RMBS opened at $145.31 on Friday. The business's 50 day moving average price is $125.18 and its 200 day moving average price is $107.98. Rambus, Inc. has a one year low of $57.12 and a one year high of $174.10. The stock has a market capitalization of $15.71 billion, a PE ratio of 69.20 and a beta of 1.84.

Rambus (NASDAQ:RMBS - Get Free Report) last issued its quarterly earnings data 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 net margin of 31.90% and a return on equity of 17.41%. The firm had revenue of $180.19 million for the quarter, compared to analyst estimates of $179.94 million. As a group, equities research analysts forecast that Rambus, Inc. will post 2.44 earnings per share for the current fiscal year.

Insider Transactions at Rambus

In other news, Director Emiko Higashi sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $160.50, for a total value of $1,605,000.00. Following the transaction, the director directly owned 49,519 shares in the company, valued at approximately $7,947,799.50. This represents a 16.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Meera Rao sold 8,538 shares of the company's stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $118.08, for a total transaction of $1,008,167.04. Following the completion of the transaction, the director owned 22,946 shares in the company, valued at approximately $2,709,463.68. This represents a 27.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 79,850 shares of company stock worth $11,649,796. 0.75% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

Rambus 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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