Analog Century Management LP Sells 195,759 Shares of Rambus, Inc. $RMBS

Analog Century Management LP decreased its holdings in shares of Rambus, Inc. (NASDAQ:RMBS) by 23.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 631,343 shares of the semiconductor company’s stock after selling 195,759 shares during the period. Rambus comprises 3.5% of Analog Century Management LP’s portfolio, making the stock its 16th biggest holding. Analog Century Management LP owned about 0.59% of Rambus worth $65,786,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Steigerwald Gordon & Koch Inc. bought a new stake in shares of Rambus during the third quarter worth $25,000. Abound Wealth Management acquired a new position in Rambus during the 3rd quarter worth about $28,000. CI Investments Inc. grew its holdings in Rambus by 39.5% during the 3rd quarter. CI Investments Inc. now owns 661 shares of the semiconductor company’s stock worth $69,000 after acquiring an additional 187 shares during the last quarter. Covestor Ltd increased its position in Rambus by 46.4% in the 3rd quarter. Covestor Ltd now owns 675 shares of the semiconductor company’s stock valued at $70,000 after acquiring an additional 214 shares in the last quarter. Finally, Flagship Wealth Advisors LLC bought a new position in shares of Rambus in the third quarter worth about $73,000. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Rambus Trading Up 4.7%

Shares of RMBS stock opened at $94.01 on Friday. The stock has a market cap of $10.17 billion, a P/E ratio of 44.55 and a beta of 1.55. Rambus, Inc. has a 1 year low of $40.12 and a 1 year high of $135.75. The stock has a 50 day simple moving average of $102.06 and a 200 day simple moving average of $97.76.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings data on Monday, February 2nd. The semiconductor company reported $0.68 earnings per share for the quarter, meeting the consensus estimate of $0.68. Rambus had a return on equity of 17.69% and a net margin of 32.57%.The firm had revenue of $190.24 million during the quarter, compared to analysts’ expectations of $188.21 million. Analysts forecast that Rambus, Inc. will post 1.89 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Cfra downgraded Rambus from a “hold” rating to a “moderate sell” rating in a research note on Monday, December 15th. Zacks Research upgraded Rambus to a “hold” rating in a report on Monday, January 26th. Evercore decreased their target price on Rambus from $126.00 to $119.00 and set an “outperform” rating for the company in a research report on Tuesday, February 3rd. Weiss Ratings downgraded shares of Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday. Finally, Susquehanna cut their target price on shares of Rambus from $100.00 to $90.00 and set a “neutral” rating on the stock in a report on Tuesday, February 3rd. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Rambus currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.71.

Insider Buying and Selling

In other news, CEO Luc Seraphin sold 39,914 shares of Rambus stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $98.63, for a total value of $3,936,717.82. Following the transaction, the chief executive officer owned 331,070 shares in the company, valued at approximately $32,653,434.10. This trade represents a 10.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Desmond Lynch sold 4,273 shares of the business’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $101.53, for a total value of $433,837.69. Following the transaction, the chief financial officer directly owned 63,618 shares of the company’s stock, valued at $6,459,135.54. This trade represents a 6.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.00% of the company’s stock.

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.