Wellington Management Group LLP Sells 438,065 Shares of Rambus, Inc. $RMBS

Wellington Management Group LLP lessened its position in Rambus, Inc. (NASDAQ:RMBS) by 51.1% in the second quarter, Holdings Channel.com reports. The firm owned 418,533 shares of the semiconductor company’s stock after selling 438,065 shares during the quarter. Wellington Management Group LLP’s holdings in Rambus were worth $55,556,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Rambus during the second quarter valued at about $1,853,645,000. Invesco Ltd. raised its holdings in Rambus by 70.6% in the 4th quarter. Invesco Ltd. now owns 4,148,653 shares of the semiconductor company’s stock valued at $381,220,000 after buying an additional 1,716,621 shares during the last quarter. Norges Bank acquired a new stake in Rambus during the 4th quarter worth approximately $156,356,000. Bank of America Corp DE acquired a new stake in Rambus during the 2nd quarter worth approximately $161,774,000. Finally, Bessemer Group Inc. grew its holdings in Rambus by 1,009.5% during the 1st quarter. Bessemer Group Inc. now owns 1,039,905 shares of the semiconductor company’s stock worth $89,463,000 after acquiring an additional 946,177 shares during the last quarter. 88.54% of the stock is currently owned by institutional investors.

Rambus Price Performance

Shares of NASDAQ:RMBS opened at $84.34 on Friday. The company has a market capitalization of $9.15 billion, a price-to-earnings ratio of 38.69 and a beta of 1.88. The business’s 50-day moving average is $99.66 and its 200-day moving average is $111.60. Rambus, Inc. has a 1 year low of $72.45 and a 1 year high of $174.10.

Rambus (NASDAQ:RMBS) last released its earnings results on Monday, July 27th. The semiconductor company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.72 by $0.05. Rambus had a return on equity of 17.89% and a net margin of 31.69%.The business had revenue of $207.39 million during the quarter, compared to analysts’ expectations of $199.30 million. During the same quarter last year, the firm posted $0.53 earnings per share. The firm’s revenue was up 20.4% on a year-over-year basis. Analysts anticipate that Rambus, Inc. will post 2.52 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on RMBS shares. Weiss Ratings restated a “hold (c+)” rating on shares of Rambus in a research report on Friday, June 5th. Benchmark restated a “buy” rating on shares of Rambus in a report on Tuesday, July 28th. Glj Research set a $165.00 target price on Rambus in a research report on Tuesday, July 28th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $165.00 target price on shares of Rambus in a report on Tuesday, July 28th. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Rambus presently has a consensus rating of “Moderate Buy” and an average price target of $145.88.

Rambus Company Profile

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.