Rambus, Inc. (NASDAQ:RMBS) Short Interest Down 13.4% in March

Rambus, Inc. (NASDAQ:RMBS) was the recipient of a significant drop in short interest in the month of March. As of March 31st, there was short interest totaling 5,990,703 shares, a drop of 13.4% from the March 15th total of 6,914,782 shares. Based on an average trading volume of 1,899,690 shares, the short-interest ratio is currently 3.2 days. Approximately 5.6% of the shares of the company are short sold.

Analyst Ratings Changes

RMBS has been the subject of a number of analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $130.00 price target on shares of Rambus in a report on Tuesday, February 3rd. William Blair initiated coverage on Rambus in a report on Thursday, January 22nd. They issued an “outperform” rating for the company. Weiss Ratings lowered Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, March 10th. Evercore cut their price target on Rambus from $126.00 to $119.00 and set an “outperform” rating for the company in a report on Tuesday, February 3rd. Finally, Zacks Research raised Rambus to a “hold” rating in a report on Monday, January 26th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $105.71.

Rambus Stock Performance

Shares of RMBS stock opened at $126.93 on Friday. Rambus has a 52-week low of $43.21 and a 52-week high of $135.75. The company has a market capitalization of $13.73 billion, a PE ratio of 60.16 and a beta of 1.63. The business’s fifty day moving average is $98.28 and its 200 day moving average is $99.68.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings data on Monday, February 2nd. The semiconductor company reported $0.68 earnings per share (EPS) 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 the consensus estimate of $188.21 million. On average, sell-side analysts forecast that Rambus will post 1.89 EPS for the current fiscal year.

Insider Transactions at Rambus

In other news, CEO Luc Seraphin sold 39,914 shares of the firm’s 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 completion of the transaction, the chief executive officer directly owned 331,070 shares of the company’s stock, valued at $32,653,434.10. This trade represents a 10.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Desmond Lynch sold 4,273 shares of the firm’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 completion of the transaction, the chief financial officer directly owned 63,618 shares of the company’s stock, valued at $6,459,135.54. The trade was a 6.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 58,151 shares of company stock valued at $5,848,885 over the last three months. Company insiders own 0.75% of the company’s stock.

Institutional Investors Weigh In On Rambus

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Rambus by 1.1% during the third quarter. Vanguard Group Inc. now owns 12,701,773 shares of the semiconductor company’s stock valued at $1,323,525,000 after purchasing an additional 140,948 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Rambus by 2.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,385,570 shares of the semiconductor company’s stock valued at $494,881,000 after purchasing an additional 140,226 shares in the last quarter. Invesco Ltd. raised its position in Rambus by 70.6% during the fourth quarter. Invesco Ltd. now owns 4,148,653 shares of the semiconductor company’s stock valued at $381,220,000 after purchasing an additional 1,716,621 shares in the last quarter. Geode Capital Management LLC raised its position in Rambus by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 2,842,715 shares of the semiconductor company’s stock valued at $261,256,000 after purchasing an additional 94,214 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Rambus by 0.6% during the third quarter. Dimensional Fund Advisors LP now owns 1,928,697 shares of the semiconductor company’s stock valued at $200,966,000 after purchasing an additional 11,024 shares in the last quarter. Hedge funds and other institutional investors own 88.54% 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.