Argent Capital Management LLC Takes Position in Rambus, Inc. $RMBS

Argent Capital Management LLC acquired a new position in shares of Rambus, Inc. (NASDAQ:RMBS) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 6,403 shares of the semiconductor company’s stock, valued at approximately $588,000.

Several other hedge funds also recently modified their holdings of RMBS. Steigerwald Gordon & Koch Inc. bought a new stake in Rambus in the 3rd quarter valued at $25,000. Abound Wealth Management acquired a new position in Rambus during the third quarter worth $28,000. IFP Advisors Inc increased its position in shares of Rambus by 126.7% during the 3rd quarter. IFP Advisors Inc now owns 442 shares of the semiconductor company’s stock worth $47,000 after purchasing an additional 247 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Rambus by 83.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 777 shares of the semiconductor company’s stock valued at $50,000 after buying an additional 353 shares during the last quarter. Finally, CIBC Private Wealth Group LLC grew its stake in shares of Rambus by 1,194.9% in the third quarter. CIBC Private Wealth Group LLC now owns 505 shares of the semiconductor company’s stock valued at $53,000 after buying an additional 466 shares in the last quarter. Institutional investors own 88.54% of the company’s stock.

Insider Buying and Selling

In other 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 value of $433,837.69. Following the completion of the sale, the chief financial officer owned 63,618 shares in the company, valued at approximately $6,459,135.54. This trade represents a 6.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 sale, the chief executive officer owned 331,070 shares of the company’s stock, valued at approximately $32,653,434.10. This trade represents a 10.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.75% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

RMBS has been the subject of a number of research analyst reports. Weiss Ratings cut shares of Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, March 10th. Zacks Research upgraded Rambus to a “hold” rating in a research note on Monday, January 26th. William Blair assumed coverage on shares of Rambus in a report on Thursday, January 22nd. They issued an “outperform” rating for the company. Rosenblatt Securities reiterated a “buy” rating and set a $130.00 target price on shares of Rambus in a research report on Tuesday, February 3rd. Finally, Cfra lowered 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 assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $105.71.

Rambus Stock Down 3.1%

Rambus stock opened at $91.70 on Friday. Rambus, Inc. has a twelve month low of $40.12 and a twelve month high of $135.75. The firm has a fifty day simple moving average of $101.96 and a two-hundred day simple moving average of $98.36. The company has a market capitalization of $9.92 billion, a PE ratio of 43.46 and a beta of 1.55.

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

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.