Rambus, Inc. $RMBS Shares Bought by Citigroup Inc.

Citigroup Inc. boosted its holdings in shares of Rambus, Inc. (NASDAQ:RMBS) by 146.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 370,341 shares of the semiconductor company’s stock after purchasing an additional 220,207 shares during the quarter. Citigroup Inc. owned approximately 0.34% of Rambus worth $38,590,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of RMBS. Norges Bank acquired a new position in shares of Rambus during the 2nd quarter worth approximately $126,268,000. EdgePoint Investment Group Inc. increased its holdings in Rambus by 138.4% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 2,787,327 shares of the semiconductor company’s stock worth $178,445,000 after acquiring an additional 1,618,133 shares in the last quarter. Westwood Holdings Group Inc. raised its position in Rambus by 41.0% during the second quarter. Westwood Holdings Group Inc. now owns 1,737,062 shares of the semiconductor company’s stock worth $111,207,000 after acquiring an additional 504,852 shares during the period. AQR Capital Management LLC lifted its holdings in Rambus by 192.8% during the second quarter. AQR Capital Management LLC now owns 701,746 shares of the semiconductor company’s stock valued at $44,926,000 after purchasing an additional 462,116 shares in the last quarter. Finally, Raymond James Financial Inc. lifted its holdings in Rambus by 46.0% during the second quarter. Raymond James Financial Inc. now owns 1,372,109 shares of the semiconductor company’s stock valued at $87,842,000 after purchasing an additional 432,397 shares in the last quarter. 88.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on RMBS shares. Rosenblatt Securities restated a “buy” rating and set a $130.00 price target on shares of Rambus in a research report on Tuesday, February 3rd. Jefferies Financial Group upgraded Rambus to a “strong-buy” rating in a research note on Tuesday, October 28th. Weiss Ratings downgraded Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, February 9th. Wells Fargo & Company lifted their price target on Rambus from $73.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Finally, Cfra downgraded Rambus from a “hold” rating to a “moderate sell” rating in a research note on Monday, December 15th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $105.71.

Rambus Price Performance

RMBS stock opened at $98.57 on Wednesday. Rambus, Inc. has a 1 year low of $40.12 and a 1 year high of $135.75. The firm has a market capitalization of $10.62 billion, a PE ratio of 46.72 and a beta of 1.53. The business has a 50 day simple moving average of $102.17 and a 200-day simple moving average of $96.27.

Rambus (NASDAQ:RMBS) last released its quarterly earnings data on Monday, February 2nd. The semiconductor company reported $0.68 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.68. Rambus had a return on equity of 17.69% and a net margin of 32.57%.The company had revenue of $190.24 million for the quarter, compared to analyst estimates of $188.21 million. On average, equities research analysts expect that Rambus, Inc. will post 1.89 EPS for the current year.

Insider Activity

In related news, CFO Desmond Lynch sold 4,273 shares of the firm’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $101.53, for a total transaction of $433,837.69. Following the completion of the sale, the chief financial officer directly owned 63,618 shares in the company, valued at approximately $6,459,135.54. This trade represents a 6.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.00% of the company’s stock.

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.