Evergreen Capital Management LLC Acquires 3,720 Shares of Rambus, Inc. $RMBS

Evergreen Capital Management LLC grew its holdings in shares of Rambus, Inc. (NASDAQ:RMBS) by 41.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,625 shares of the semiconductor company’s stock after purchasing an additional 3,720 shares during the quarter. Evergreen Capital Management LLC’s holdings in Rambus were worth $1,160,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hussman Strategic Advisors Inc. bought a new position in Rambus during the third quarter worth about $1,094,000. Nordea Investment Management AB boosted its position in Rambus by 101.7% during the third quarter. Nordea Investment Management AB now owns 139,430 shares of the semiconductor company’s stock worth $14,669,000 after purchasing an additional 70,314 shares during the period. Baader Bank Aktiengesellschaft bought a new position in Rambus during the third quarter worth about $1,149,000. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in Rambus by 57.0% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 52,435 shares of the semiconductor company’s stock worth $5,464,000 after purchasing an additional 19,046 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Rambus by 1,320.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 129,676 shares of the semiconductor company’s stock worth $13,512,000 after purchasing an additional 120,549 shares during the period. Institutional investors own 88.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. 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. Weiss Ratings lowered shares of Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, March 10th. Evercore cut their target price on shares of Rambus from $126.00 to $119.00 and set an “outperform” rating for the company in a research report on Tuesday, February 3rd. Zacks Research upgraded shares of Rambus to a “hold” rating in a research report on Monday, January 26th. Finally, William Blair began coverage on shares of Rambus in a research report on Thursday, January 22nd. They issued an “outperform” rating for the company. Two 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $105.71.

Rambus Trading Up 5.3%

RMBS stock opened at $138.50 on Friday. The firm has a 50 day moving average of $100.56 and a 200-day moving average of $100.52. Rambus, Inc. has a 12 month low of $46.08 and a 12 month high of $139.41. The firm has a market capitalization of $14.98 billion, a P/E ratio of 65.64 and a beta of 1.63.

Rambus (NASDAQ:RMBS) last released its quarterly earnings data on Monday, February 2nd. The semiconductor company reported $0.68 EPS for the quarter, meeting analysts’ consensus estimates of $0.68. Rambus had a net margin of 32.57% and a return on equity of 17.69%. The company had revenue of $190.24 million during the quarter, compared to analyst estimates of $188.21 million. Sell-side analysts predict that Rambus, Inc. will post 2.49 EPS for the current year.

Insider Activity

In other news, Director Meera Rao sold 8,538 shares of the firm’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 transaction, the director directly owned 22,946 shares in the company, valued at approximately $2,709,463.68. This trade represents a 27.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Desmond Lynch sold 4,273 shares of the firm’s stock in a transaction that occurred on 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 $6,459,135.54. This represents a 6.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 58,151 shares of company stock worth $5,848,885. 0.75% of the stock is owned by company 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.