Harbor Capital Advisors Inc. Lowers Stock Holdings in Rambus, Inc. $RMBS

Harbor Capital Advisors Inc. reduced its stake in Rambus, Inc. (NASDAQ:RMBS) by 85.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,250 shares of the semiconductor company’s stock after selling 55,190 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Rambus were worth $964,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RMBS. Hsbc Holdings PLC raised its stake in Rambus by 14.8% during the first quarter. Hsbc Holdings PLC now owns 22,192 shares of the semiconductor company’s stock valued at $1,138,000 after buying an additional 2,868 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Rambus by 16.3% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 5,819 shares of the semiconductor company’s stock valued at $301,000 after acquiring an additional 815 shares in the last quarter. Ieq Capital LLC purchased a new position in shares of Rambus in the 1st quarter worth about $543,000. State of Wyoming bought a new position in Rambus in the 1st quarter worth about $55,000. Finally, Evergreen Capital Management LLC boosted its stake in Rambus by 3.3% in the 1st quarter. Evergreen Capital Management LLC now owns 7,333 shares of the semiconductor company’s stock worth $380,000 after purchasing an additional 234 shares in the last quarter. Institutional investors own 88.54% of the company’s stock.

Insider Buying and Selling at Rambus

In related news, Director Meera Rao sold 653 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $101.99, for a total transaction of $66,599.47. Following the completion of the sale, the director owned 29,261 shares in the company, valued at approximately $2,984,329.39. This represents a 2.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eric B. Stang sold 4,000 shares of the firm’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $111.78, for a total value of $447,120.00. Following the completion of the transaction, the director directly owned 20,394 shares in the company, valued at $2,279,641.32. The trade was a 16.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 9,653 shares of company stock valued at $1,025,469 in the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

RMBS has been the subject of a number of analyst reports. Weiss Ratings raised shares of Rambus from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, December 22nd. Wells Fargo & Company raised their price target on shares of Rambus from $73.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. Robert W. Baird boosted their price objective on shares of Rambus from $90.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, September 15th. Evercore ISI increased their target price on Rambus from $114.00 to $126.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. Finally, Cfra Research lowered Rambus from a “hold” rating to a “moderate sell” rating in a report on Monday, December 15th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $108.14.

Rambus Stock Down 0.4%

Shares of Rambus stock opened at $94.11 on Friday. Rambus, Inc. has a twelve month low of $40.12 and a twelve month high of $114.55. The company’s 50 day moving average is $98.61 and its 200 day moving average is $84.86. The company has a market cap of $10.13 billion, a price-to-earnings ratio of 44.60 and a beta of 1.51.

Rambus (NASDAQ:RMBS) last posted its earnings results on Monday, October 27th. The semiconductor company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.18). The company had revenue of $178.51 million during the quarter, compared to the consensus estimate of $175.60 million. Rambus had a return on equity of 17.73% and a net margin of 33.72%.The company’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same period last year, the firm posted $0.45 EPS. Sell-side analysts expect that Rambus, Inc. will post 1.89 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.