Legato Capital Management LLC Reduces Stock Holdings in Rambus, Inc. $RMBS

Legato Capital Management LLC decreased its stake in Rambus, Inc. (NASDAQ:RMBS) by 28.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,887 shares of the semiconductor company’s stock after selling 3,564 shares during the quarter. Legato Capital Management LLC’s holdings in Rambus were worth $817,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Global Retirement Partners LLC boosted its holdings in Rambus by 141.1% during the 4th quarter. Global Retirement Partners LLC now owns 5,460 shares of the semiconductor company’s stock valued at $502,000 after acquiring an additional 3,195 shares during the period. Banque Cantonale Vaudoise boosted its holdings in Rambus by 40.3% during the 4th quarter. Banque Cantonale Vaudoise now owns 689 shares of the semiconductor company’s stock valued at $63,000 after acquiring an additional 198 shares during the period. Jag Capital Management LLC purchased a new position in Rambus during the 4th quarter valued at $236,000. Covestor Ltd boosted its holdings in Rambus by 204.3% during the 4th quarter. Covestor Ltd now owns 2,054 shares of the semiconductor company’s stock valued at $188,000 after acquiring an additional 1,379 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in Rambus by 8.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 12,969 shares of the semiconductor company’s stock valued at $1,192,000 after acquiring an additional 962 shares during the period. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Insider Transactions at Rambus

In other news, 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 transaction of $470,162.90. Following the completion of the transaction, the chief executive officer directly owned 345,767 shares of the company’s stock, valued at $29,960,710.55. This represents a 1.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Meera Rao sold 2,972 shares of Rambus stock in a transaction on Friday, April 24th. The shares were sold at an average price of $150.30, for a total transaction of $446,691.60. Following the completion of the sale, the director directly owned 19,974 shares in the company, valued at $3,002,092.20. This represents a 12.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 56,850 shares of company stock worth $5,861,739 in the last 90 days. Company insiders own 0.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Zacks Research upgraded Rambus to a “hold” rating in a report on Monday, January 26th. Jefferies Financial Group upped their target price on Rambus from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Susquehanna lowered their target price on Rambus from $100.00 to $90.00 and set a “neutral” rating for the company in a report on Tuesday, February 3rd. Robert W. Baird lowered Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price target for the company. in a research report on Tuesday, April 28th. Finally, Wells Fargo & Company boosted their price target on Rambus from $115.00 to $145.00 and gave the stock an “overweight” rating in a research report 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $130.43.

Rambus Stock Performance

Rambus stock opened at $142.98 on Tuesday. The business’s 50-day simple moving average is $114.04 and its two-hundred day simple moving average is $104.72. The company has a market cap of $15.46 billion, a PE ratio of 68.09 and a beta of 1.79. Rambus, Inc. has a fifty-two week low of $52.12 and a fifty-two week high of $161.80.

Rambus (NASDAQ:RMBS) last posted its quarterly 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 for the quarter, compared to the consensus estimate of $179.94 million. As a group, analysts predict that Rambus, Inc. will post 2.44 EPS for the current fiscal 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.