Rambus, Inc. $RMBS Holdings Raised by Intech Investment Management LLC

Intech Investment Management LLC grew its stake in shares of Rambus, Inc. (NASDAQ:RMBS) by 85.9% in the 4th quarter, HoldingsChannel reports. The firm owned 120,052 shares of the semiconductor company’s stock after acquiring an additional 55,481 shares during the quarter. Intech Investment Management LLC’s holdings in Rambus were worth $11,032,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of RMBS. Alliancebernstein L.P. lifted its stake in Rambus by 572.7% in the 3rd quarter. Alliancebernstein L.P. now owns 1,822,030 shares of the semiconductor company’s stock worth $189,856,000 after acquiring an additional 1,551,159 shares in the last quarter. Bank of America Corp DE lifted its stake in Rambus by 196.0% in the 3rd quarter. Bank of America Corp DE now owns 1,550,665 shares of the semiconductor company’s stock worth $161,579,000 after acquiring an additional 1,026,776 shares in the last quarter. Rafferty Asset Management LLC purchased a new stake in Rambus in the 3rd quarter worth about $93,962,000. Barclays PLC lifted its stake in Rambus by 183.1% in the 3rd quarter. Barclays PLC now owns 894,906 shares of the semiconductor company’s stock worth $93,249,000 after acquiring an additional 578,839 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in Rambus by 192.8% in the 2nd quarter. AQR Capital Management LLC now owns 701,746 shares of the semiconductor company’s stock worth $44,926,000 after acquiring an additional 462,116 shares in the last quarter. 88.54% of the stock is owned by hedge funds and other institutional investors.

Rambus Price Performance

Shares of RMBS stock opened at $145.46 on Friday. Rambus, Inc. has a fifty-two week low of $52.12 and a fifty-two week high of $161.80. The stock’s 50-day moving average is $118.55 and its two-hundred day moving average is $105.92. The firm has a market cap of $15.73 billion, a P/E ratio of 69.27 and a beta of 1.79.

Rambus (NASDAQ:RMBS) last issued its earnings results on Monday, April 27th. The semiconductor company reported $0.63 earnings per share 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 company had revenue of $180.19 million for the quarter, compared to analyst estimates of $179.94 million. As a group, research analysts expect that Rambus, Inc. will post 2.44 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on RMBS shares. Robert W. Baird downgraded Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price objective for the company. in a research note on Tuesday, April 28th. Rosenblatt Securities increased their price objective on Rambus from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Susquehanna reduced their price objective on Rambus from $100.00 to $90.00 and set a “neutral” rating for the company in a research note on Tuesday, February 3rd. Jefferies Financial Group increased their price objective on Rambus from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Finally, Wells Fargo & Company increased their price objective on Rambus from $115.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. 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 company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $130.43.

Insider Transactions at Rambus

In other Rambus news, CEO Luc Seraphin sold 39,914 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $98.63, for a total value of $3,936,717.82. Following the transaction, the chief executive officer directly owned 331,070 shares of the company’s stock, valued at $32,653,434.10. This represents a 10.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Xianzhi Sean Fan sold 37,914 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $151.69, for a total value of $5,751,174.66. Following the completion of the transaction, the executive vice president directly owned 168,358 shares in the company, valued at approximately $25,538,225.02. The trade was a 18.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 99,764 shares of company stock valued at $12,400,764. 0.75% of the stock is currently owned by company insiders.

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.