Renaissance Group LLC Lowers Stake in Rambus, Inc. $RMBS

Renaissance Group LLC lowered its holdings in shares of Rambus, Inc. (NASDAQ:RMBS) by 10.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,467 shares of the semiconductor company’s stock after selling 13,126 shares during the period. Renaissance Group LLC owned approximately 0.10% of Rambus worth $11,302,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hussman Strategic Advisors Inc. bought a new stake in shares of Rambus in the 3rd quarter worth $1,094,000. Nordea Investment Management AB boosted its position in shares of Rambus by 1,216.0% during the second quarter. Nordea Investment Management AB now owns 69,116 shares of the semiconductor company’s stock valued at $4,381,000 after buying an additional 63,864 shares during the last quarter. Oak Grove Capital LLC bought a new stake in Rambus in the 2nd quarter worth about $519,000. Mirae Asset Global Investments Co. Ltd. raised its position in Rambus by 1,320.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 129,676 shares of the semiconductor company’s stock worth $13,512,000 after buying an additional 120,549 shares during the last quarter. Finally, First Citizens Bank & Trust Co. lifted its stake in Rambus by 250.9% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 13,591 shares of the semiconductor company’s stock valued at $870,000 after acquiring an additional 9,718 shares during the period. Institutional investors own 88.54% of the company’s stock.

Insider Buying and Selling

In other news, 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 transaction, the director owned 20,394 shares of the company’s stock, valued at $2,279,641.32. This trade represents a 16.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently commented on RMBS shares. Cfra Research lowered shares of Rambus from a “hold” rating to a “moderate sell” rating in a research note on Monday, December 15th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $130.00 target price on shares of Rambus in a research report on Tuesday. Weiss Ratings raised Rambus from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 26th. Wells Fargo & Company lifted their price objective on Rambus from $73.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. Finally, Susquehanna reduced their price objective on Rambus from $100.00 to $90.00 and set a “neutral” rating for the company in a research report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Rambus presently has a consensus rating of “Buy” and an average price target of $105.71.

Rambus Price Performance

Shares of RMBS stock opened at $107.10 on Friday. The company has a market cap of $11.53 billion, a price-to-earnings ratio of 50.76 and a beta of 1.53. Rambus, Inc. has a 1 year low of $40.12 and a 1 year high of $135.75. The firm has a fifty day moving average price of $101.59 and a 200-day moving average price of $93.27.

Rambus 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.