Rambus, Inc. $RMBS Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. cut its stake in Rambus, Inc. (NASDAQ:RMBS) by 89.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 94,654 shares of the semiconductor company’s stock after selling 786,908 shares during the period. Assenagon Asset Management S.A. owned about 0.09% of Rambus worth $9,863,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Moody National Bank Trust Division boosted its stake in shares of Rambus by 146.7% in the 3rd quarter. Moody National Bank Trust Division now owns 21,975 shares of the semiconductor company’s stock valued at $2,290,000 after buying an additional 13,069 shares during the period. GAMMA Investing LLC raised its holdings in Rambus by 5.6% in the third quarter. GAMMA Investing LLC now owns 4,680 shares of the semiconductor company’s stock valued at $488,000 after acquiring an additional 249 shares in the last quarter. Praxis Investment Management Inc. purchased a new position in Rambus in the third quarter worth approximately $270,000. Texas Permanent School Fund Corp grew its holdings in Rambus by 28.9% during the 2nd quarter. Texas Permanent School Fund Corp now owns 55,810 shares of the semiconductor company’s stock worth $3,573,000 after acquiring an additional 12,520 shares in the last quarter. Finally, Osaic Holdings Inc. increased its position in shares of Rambus by 37.1% in the 2nd quarter. Osaic Holdings Inc. now owns 11,620 shares of the semiconductor company’s stock valued at $702,000 after purchasing an additional 3,146 shares during the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Wall Street Analysts Forecast Growth

RMBS has been the topic of a number of analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of Rambus in a report on Monday, December 15th. Evercore ISI raised their price target on Rambus from $114.00 to $126.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. Robert W. Baird lifted their price target on Rambus from $90.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, September 15th. Arete Research upgraded Rambus from a “neutral” rating to a “buy” rating and set a $91.00 price objective on the stock in a report on Thursday, August 28th. Finally, Wells Fargo & Company raised their target price on Rambus from $73.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $108.14.

Insider Buying and Selling at Rambus

In other Rambus news, Director Meera Rao sold 653 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $101.99, for a total value of $66,599.47. Following the transaction, the director directly owned 29,261 shares of the company’s stock, valued at approximately $2,984,329.39. The trade was a 2.18% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Eric B. Stang sold 5,000 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $102.35, for a total transaction of $511,750.00. Following the completion of the sale, the director owned 24,394 shares of the company’s stock, valued at $2,496,725.90. This trade represents a 17.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 9,653 shares of company stock worth $1,025,469 over the last three months. 1.00% of the stock is currently owned by corporate insiders.

Rambus Stock Performance

Rambus stock opened at $96.39 on Friday. Rambus, Inc. has a fifty-two week low of $40.12 and a fifty-two week high of $114.55. The company has a market capitalization of $10.38 billion, a P/E ratio of 45.68 and a beta of 1.51. The stock has a 50-day simple moving average of $98.84 and a 200-day simple moving average of $83.59.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings data on Monday, October 27th. The semiconductor company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.18). The business had revenue of $178.51 million for the quarter, compared to analysts’ expectations 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 in the previous year, the business posted $0.45 earnings per share. As a group, analysts forecast that Rambus, Inc. will post 1.89 earnings per share for the current year.

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.