Rambus, Inc. $RMBS Stock Position Lowered by Bayforest Capital Ltd

Bayforest Capital Ltd lessened its position in Rambus, Inc. (NASDAQ:RMBS) by 77.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,273 shares of the semiconductor company’s stock after selling 4,348 shares during the period. Bayforest Capital Ltd’s holdings in Rambus were worth $117,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Allworth Financial LP lifted its stake in Rambus by 8.2% during the third quarter. Allworth Financial LP now owns 1,601 shares of the semiconductor company’s stock valued at $167,000 after purchasing an additional 121 shares during the last quarter. Coldstream Capital Management Inc. boosted its holdings in Rambus by 2.2% during the third quarter. Coldstream Capital Management Inc. now owns 5,703 shares of the semiconductor company’s stock worth $594,000 after buying an additional 125 shares in the last quarter. GAMMA Investing LLC grew its position in Rambus by 3.3% in the fourth quarter. GAMMA Investing LLC now owns 4,833 shares of the semiconductor company’s stock worth $444,000 after buying an additional 153 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Rambus by 19.0% in the third quarter. Farther Finance Advisors LLC now owns 1,045 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 167 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Rambus by 2.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 9,363 shares of the semiconductor company’s stock valued at $907,000 after buying an additional 187 shares in the last quarter. Institutional investors own 88.54% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on RMBS shares. Susquehanna dropped their price target on Rambus from $100.00 to $90.00 and set a “neutral” rating on the stock in a report on Tuesday, February 3rd. William Blair started coverage on Rambus in a report on Thursday, January 22nd. They issued an “outperform” rating on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $130.00 price target on shares of Rambus in a report on Tuesday, February 3rd. Evercore dropped their price target on Rambus from $126.00 to $119.00 and set an “outperform” rating on the stock in a report on Tuesday, February 3rd. Finally, Zacks Research raised Rambus to a “hold” rating in a report on Monday, January 26th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $105.71.

Rambus Stock Performance

Shares of NASDAQ:RMBS opened at $131.55 on Thursday. The company has a market cap of $14.23 billion, a PE ratio of 62.35 and a beta of 1.63. Rambus, Inc. has a 52 week low of $45.88 and a 52 week high of $135.75. The firm has a 50 day simple moving average of $99.71 and a 200 day simple moving average of $100.26.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings results on Monday, February 2nd. The semiconductor company reported $0.68 EPS for the quarter, meeting the consensus estimate of $0.68. The business 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%. On average, equities analysts predict that Rambus, Inc. will post 2.49 earnings per share for the current year.

Insider Activity at Rambus

In related news, Director Meera Rao sold 8,538 shares of the company’s stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $118.08, for a total value of $1,008,167.04. Following the completion of the sale, the director owned 22,946 shares in the company, valued at approximately $2,709,463.68. This represents a 27.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Luc Seraphin sold 5,426 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $86.65, for a total transaction of $470,162.90. Following the completion of the sale, the chief executive officer owned 345,767 shares of the company’s stock, valued at approximately $29,960,710.55. This trade represents a 1.55% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 58,151 shares of company stock worth $5,848,885. 0.75% of the stock is owned by corporate insiders.

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.