Bailard Inc. Sells 11,518 Shares of Rambus, Inc. $RMBS

Bailard Inc. lessened its position in shares of Rambus, Inc. (NASDAQ:RMBS) by 50.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,090 shares of the semiconductor company’s stock after selling 11,518 shares during the quarter. Bailard Inc.’s holdings in Rambus were worth $1,156,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RMBS. Steigerwald Gordon & Koch Inc. acquired a new position in Rambus during the 3rd quarter valued at about $25,000. Abound Wealth Management acquired a new stake in shares of Rambus during the 3rd quarter worth approximately $28,000. True Wealth Design LLC raised its stake in shares of Rambus by 162.5% during the second quarter. True Wealth Design LLC now owns 420 shares of the semiconductor company’s stock worth $27,000 after buying an additional 260 shares during the last quarter. Bessemer Group Inc. raised its stake in shares of Rambus by 105.8% during the second quarter. Bessemer Group Inc. now owns 463 shares of the semiconductor company’s stock worth $30,000 after buying an additional 238 shares during the last quarter. Finally, Hantz Financial Services Inc. lifted its holdings in Rambus by 1,386.0% in the second quarter. Hantz Financial Services Inc. now owns 639 shares of the semiconductor company’s stock valued at $41,000 after buying an additional 596 shares during the period. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on RMBS shares. William Blair started coverage on shares of Rambus in a research report on Thursday. They set an “outperform” rating for the company. Wells Fargo & Company upped their price objective on Rambus from $73.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Jefferies Financial Group raised Rambus to a “strong-buy” rating in a research note on Tuesday, October 28th. Evercore ISI raised their target price on Rambus from $114.00 to $126.00 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $130.00 price target on shares of Rambus in a research note on Tuesday, October 28th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $108.14.

Insiders Place Their Bets

In other news, Director Eric B. Stang sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $102.35, for a total value of $511,750.00. Following the completion of the transaction, the director owned 24,394 shares in the company, valued at $2,496,725.90. This represents a 17.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.00% of the company’s stock.

Rambus Trading Down 0.9%

NASDAQ:RMBS opened at $124.77 on Friday. Rambus, Inc. has a 1 year low of $40.12 and a 1 year high of $135.75. The stock has a 50-day moving average price of $97.33 and a two-hundred day moving average price of $89.79. The stock has a market cap of $13.43 billion, a price-to-earnings ratio of 59.13 and a beta of 1.51.

Rambus (NASDAQ:RMBS) last released its quarterly earnings data on Monday, October 27th. The semiconductor company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.18). Rambus had a net margin of 33.72% and a return on equity of 17.73%. The business had revenue of $178.51 million for the quarter, compared to the consensus estimate of $175.60 million. During the same quarter last year, the firm earned $0.45 EPS. The company’s revenue for the quarter was up 22.7% on a year-over-year basis. Sell-side 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.