Swedbank AB Reduces Stock Holdings in Rambus, Inc. $RMBS

Key Points

• Swedbank AB cut its stake in Rambus by 19.8%, selling 337,000 shares and now holds 1,363,000 shares (about 1.27% of the company) valued at roughly $125.25 million.
• Insiders have been selling recently — CEO Luc Seraphin and CFO Desmond Lynch both sold shares, and insiders disposed of 61,123 shares worth about $6.3 million in the past 90 days.
• Analysts are broadly positive with a consensus rating of “Moderate Buy” and a consensus target of $130.43, while recent price targets include Rosenblatt $150 and Evercore $172.

Swedbank AB decreased its holdings in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 19.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,363,000 shares of the semiconductor company's stock after selling 337,000 shares during the period. Swedbank AB owned about 1.27% of Rambus worth $125,246,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Krilogy Financial LLC increased its stake in Rambus by 5.3% in the 4th quarter. Krilogy Financial LLC now owns 2,157 shares of the semiconductor company's stock worth $198,000 after buying an additional 108 shares during the period. Ashton Thomas Private Wealth LLC boosted its position in Rambus by 3.3% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,445 shares of the semiconductor company's stock valued at $317,000 after buying an additional 110 shares during the period. Allworth Financial LP grew its stake in Rambus by 8.2% in the 3rd quarter. Allworth Financial LP now owns 1,601 shares of the semiconductor company's stock worth $167,000 after acquiring an additional 121 shares in the last quarter. Coldstream Capital Management Inc. grew its stake in Rambus by 2.2% in the 3rd quarter. Coldstream Capital Management Inc. now owns 5,703 shares of the semiconductor company's stock worth $594,000 after acquiring an additional 125 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Rambus by 3.3% during the fourth quarter. GAMMA Investing LLC now owns 4,833 shares of the semiconductor company's stock worth $444,000 after acquiring an additional 153 shares during the period. 88.54% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Rambus

In other news, CEO Luc Seraphin sold 5,426 shares of Rambus stock in a transaction 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 transaction, the chief executive officer directly owned 345,767 shares in the company, valued at approximately $29,960,710.55. This trade represents a 1.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Desmond Lynch sold 4,273 shares of the business's stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $101.53, for a total value of $433,837.69. Following the completion of the transaction, the chief financial officer directly owned 63,618 shares of the company's stock, valued at approximately $6,459,135.54. The trade was a 6.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 61,123 shares of company stock valued at $6,295,577. 0.75% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Rosenblatt Securities lifted their price target on shares of Rambus from $130.00 to $150.00 and gave the company a "buy" rating in a research note on Tuesday, April 28th. Weiss Ratings downgraded Rambus from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, March 10th. William Blair started coverage on Rambus in a research report on Thursday, January 22nd. They set an "outperform" rating for the company. Evercore reiterated an "outperform" rating and issued a $172.00 target price on shares of Rambus in a report on Tuesday, April 28th. Finally, Zacks Research raised Rambus to a "hold" rating in a research report on Monday, January 26th. One equities research 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $130.43.

Rambus Stock Performance

Shares of RMBS opened at $130.04 on Thursday. The company has a 50 day moving average price of $104.05 and a 200-day moving average price of $102.03. Rambus, Inc. has a fifty-two week low of $49.61 and a fifty-two week high of $161.80. The stock has a market capitalization of $14.06 billion, a PE ratio of 61.92 and a beta of 1.79.

Rambus (NASDAQ:RMBS - Get Free Report) last issued its quarterly earnings data on Monday, April 27th. The semiconductor company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.02. The company had revenue of $180.19 million for the quarter, compared to analyst estimates of $179.94 million. Rambus had a net margin of 31.90% and a return on equity of 17.41%. Equities research analysts forecast that Rambus, Inc. will post 2.44 EPS 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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