Short Interest in Rambus, Inc. (NASDAQ:RMBS) Drops By 36.5%

Rambus, Inc. (NASDAQ:RMBS) was the recipient of a significant decline in short interest during the month of June. As of June 30th, there was short interest totaling 4,878,765 shares, a decline of 36.5% from the June 15th total of 7,682,296 shares. Based on an average daily volume of 4,603,682 shares, the short-interest ratio is currently 1.1 days. Currently, 4.5% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

RMBS has been the topic of several research reports. Wells Fargo & Company upped their target price on Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Weiss Ratings reissued a “hold (c+)” rating on shares of Rambus in a report on Friday, June 5th. Evercore restated an “outperform” rating and issued a $172.00 price target on shares of Rambus in a research note on Tuesday, April 28th. Rosenblatt Securities upped their price objective on Rambus from $130.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Finally, Robert W. Baird cut Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price objective on the stock. in a research report on Tuesday, April 28th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Rambus has an average rating of “Moderate Buy” and a consensus price target of $134.75.

Rambus Stock Up 0.0%

Shares of NASDAQ:RMBS opened at $101.44 on Friday. Rambus has a 12-month low of $62.81 and a 12-month high of $174.10. The company’s 50 day moving average price is $131.72 and its two-hundred day moving average price is $114.01. The firm has a market cap of $10.97 billion, a PE ratio of 48.30 and a beta of 1.84.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings results on Monday, April 27th. The semiconductor company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.02. The business had revenue of $180.19 million during the quarter, compared to analysts’ expectations of $179.94 million. Rambus had a return on equity of 17.41% and a net margin of 31.90%. On average, research analysts expect that Rambus will post 2.44 EPS for the current year.

Insider Transactions at Rambus

In other news, Director Necip Sayiner sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $170.15, for a total transaction of $850,750.00. Following the completion of the sale, the director owned 18,223 shares in the company, valued at approximately $3,100,643.45. This trade represents a 21.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Xianzhi Sean Fan sold 37,914 shares of Rambus stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $151.69, for a total transaction of $5,751,174.66. Following the sale, the executive vice president directly owned 168,358 shares of the company’s stock, valued at $25,538,225.02. The trade was a 18.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 65,886 shares of company stock valued at $10,171,466. Corporate insiders own 0.75% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Invesco Ltd. boosted its stake in Rambus by 70.6% in the fourth quarter. Invesco Ltd. now owns 4,148,653 shares of the semiconductor company’s stock valued at $381,220,000 after buying an additional 1,716,621 shares in the last quarter. Norges Bank acquired a new position in Rambus during the fourth quarter worth about $156,356,000. Bank of America Corp DE raised its stake in Rambus by 196.0% during the third quarter. Bank of America Corp DE now owns 1,550,665 shares of the semiconductor company’s stock worth $161,579,000 after acquiring an additional 1,026,776 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of Rambus by 1,009.5% in the first quarter. Bessemer Group Inc. now owns 1,039,905 shares of the semiconductor company’s stock worth $89,463,000 after acquiring an additional 946,177 shares during the last quarter. Finally, EdgePoint Investment Group Inc. lifted its holdings in shares of Rambus by 38.5% in the first quarter. EdgePoint Investment Group Inc. now owns 1,947,742 shares of the semiconductor company’s stock worth $167,564,000 after acquiring an additional 541,056 shares during the last quarter. Institutional investors own 88.54% of the company’s stock.

About Rambus

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.