Rambus, Inc. $RMBS Stock Position Lifted by Intech Investment Management LLC

Key Points

• Intech Investment Management boosted its Rambus stake by 85.9% in the fourth quarter, ending with 120,052 shares worth about $11.0 million.
• Insider selling picked up, with director Emiko Higashi and EVP Xianzhi Sean Fan both selling shares; insiders sold 99,764 shares over the last three months.
• Analysts remain mixed but generally positive on Rambus, with a consensus rating of “Moderate Buy” and an average price target of $130.43, while the stock recently traded near $145.46 after reporting better-than-expected quarterly earnings.

Intech Investment Management LLC lifted its holdings in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 85.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 120,052 shares of the semiconductor company's stock after purchasing an additional 55,481 shares during the quarter. Intech Investment Management LLC owned 0.11% of Rambus worth $11,032,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Geode Capital Management LLC grew its stake in shares of Rambus by 3.4% in the fourth 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 in the last quarter. Fisher Asset Management LLC grew its stake in shares of Rambus by 238.4% in the fourth quarter. Fisher Asset Management LLC now owns 517,278 shares of the semiconductor company's stock worth $47,533,000 after purchasing an additional 364,396 shares in the last quarter. Clearstead Advisors LLC grew its stake in shares of Rambus by 26.1% in the fourth quarter. Clearstead Advisors LLC now owns 3,168 shares of the semiconductor company's stock worth $291,000 after purchasing an additional 656 shares in the last quarter. New Age Alpha Advisors LLC bought a new position in shares of Rambus in the fourth quarter worth $2,634,000. Finally, Hantz Financial Services Inc. grew its stake in shares of Rambus by 87.5% in the fourth quarter. Hantz Financial Services Inc. now owns 2,765 shares of the semiconductor company's stock worth $254,000 after purchasing an additional 1,290 shares in the last quarter. Institutional investors own 88.54% of the company's stock.

Insider Buying and Selling

In other news, Director Emiko Higashi sold 5,000 shares of the company's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $157.57, for a total transaction of $787,850.00. Following the completion of the sale, the director directly owned 59,519 shares of the company's stock, valued at $9,378,408.83. This represents a 7.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Xianzhi Sean Fan sold 37,914 shares of the company's stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $151.69, for a total value of $5,751,174.66. Following the sale, the executive vice president directly owned 168,358 shares of the company's stock, valued at approximately $25,538,225.02. This represents a 18.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 99,764 shares of company stock valued at $12,400,764. 0.75% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on RMBS shares. 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. Susquehanna decreased their target price on Rambus from $100.00 to $90.00 and set a "neutral" rating for the company in a research note on Tuesday, February 3rd. 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 note on Tuesday, April 28th. Evercore reaffirmed an "outperform" rating and set a $172.00 target price on shares of Rambus in a research note on Tuesday, April 28th. Finally, Rosenblatt Securities raised their target price on Rambus from $130.00 to $150.00 and gave the company a "buy" rating in a research note on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $130.43.

Rambus Stock Down 1.7%

Shares of RMBS stock opened at $145.46 on Friday. The stock has a 50-day simple moving average of $118.55 and a 200 day simple moving average of $105.92. Rambus, Inc. has a fifty-two week low of $52.12 and a fifty-two week high of $161.80. The stock has a market capitalization of $15.73 billion, a P/E ratio of 69.27 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.

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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