Fifth Third Bancorp Grows Position in Rambus, Inc. $RMBS

Fifth Third Bancorp lifted its position in Rambus, Inc. (NASDAQ:RMBS) by 1,675.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,361 shares of the semiconductor company’s stock after acquiring an additional 25,820 shares during the period. Fifth Third Bancorp’s holdings in Rambus were worth $2,354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Krilogy Financial LLC lifted its position in Rambus by 3.8% during the first quarter. Krilogy Financial LLC now owns 2,238 shares of the semiconductor company’s stock valued at $193,000 after purchasing an additional 81 shares during the period. Oak Grove Capital LLC grew its position in Rambus by 1.3% during the 4th quarter. Oak Grove Capital LLC now owns 7,600 shares of the semiconductor company’s stock worth $698,000 after purchasing an additional 100 shares during the period. Northwestern Mutual Investment Management Company LLC raised its stake in shares of Rambus by 0.4% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 24,085 shares of the semiconductor company’s stock valued at $2,213,000 after buying an additional 103 shares during the last quarter. Ashton Thomas Private Wealth LLC raised its stake in shares of Rambus by 3.3% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,445 shares of the semiconductor company’s stock valued at $317,000 after buying an additional 110 shares during the last quarter. Finally, Meeder Advisory Services Inc. lifted its holdings in shares of Rambus by 3.0% in the 4th quarter. Meeder Advisory Services Inc. now owns 3,883 shares of the semiconductor company’s stock valued at $357,000 after buying an additional 114 shares during the period. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Insider Buying and Selling at Rambus

In other news, Director Meera Rao sold 2,972 shares of the business’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $150.30, for a total transaction of $446,691.60. Following the completion of the sale, the director owned 19,974 shares in the company, valued at approximately $3,002,092.20. The trade was a 12.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Xianzhi Sean Fan sold 37,914 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $151.69, for a total value of $5,751,174.66. Following the completion of the sale, the executive vice president directly owned 168,358 shares of the company’s stock, valued at approximately $25,538,225.02. This trade represents a 18.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 65,886 shares of company stock valued at $10,171,466. 0.75% of the stock is currently owned by company insiders.

Rambus Price Performance

NASDAQ:RMBS opened at $105.79 on Wednesday. The company’s 50-day moving average is $130.56 and its two-hundred day moving average is $114.30. Rambus, Inc. has a 1-year low of $62.81 and a 1-year high of $174.10. The firm has a market capitalization of $11.44 billion, a price-to-earnings ratio of 50.38 and a beta of 1.84.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings data on Monday, April 27th. The semiconductor company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. The firm had revenue of $180.19 million during the quarter, compared to analysts’ expectations of $179.94 million. Rambus had a net margin of 31.90% and a return on equity of 17.41%. As a group, equities analysts anticipate that Rambus, Inc. will post 2.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on RMBS shares. Robert W. Baird lowered shares of Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price target on the stock. in a research report on Tuesday, April 28th. Rosenblatt Securities increased their target price on shares of Rambus from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Benchmark assumed coverage on Rambus in a research report on Wednesday, July 15th. They set a “buy” rating and a $165.00 target price on the stock. Jefferies Financial Group lifted their price target on Rambus from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Finally, Evercore reaffirmed an “outperform” rating and issued a $172.00 price target on shares of Rambus in a report on Tuesday, April 28th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $134.75.

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.