Algert Global LLC Reduces Stake in Rambus, Inc. $RMBS

Algert Global LLC lessened its stake in shares of Rambus, Inc. (NASDAQ:RMBS) by 28.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 122,387 shares of the semiconductor company’s stock after selling 48,457 shares during the period. Algert Global LLC owned approximately 0.11% of Rambus worth $12,753,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Steigerwald Gordon & Koch Inc. bought a new position in shares of Rambus in the third quarter worth about $25,000. Abound Wealth Management purchased a new stake in Rambus in the 3rd quarter valued at about $28,000. CI Investments Inc. grew its stake in Rambus by 39.5% in the 3rd quarter. CI Investments Inc. now owns 661 shares of the semiconductor company’s stock worth $69,000 after acquiring an additional 187 shares in the last quarter. Covestor Ltd grew its stake in Rambus by 46.4% in the 3rd quarter. Covestor Ltd now owns 675 shares of the semiconductor company’s stock worth $70,000 after acquiring an additional 214 shares in the last quarter. Finally, Flagship Wealth Advisors LLC purchased a new position in shares of Rambus during the third quarter worth approximately $73,000. 88.54% of the stock is currently owned by institutional investors.

Rambus Stock Up 4.7%

Rambus stock opened at $94.01 on Monday. The firm has a market cap of $10.17 billion, a P/E ratio of 44.55 and a beta of 1.55. The business has a fifty day moving average of $102.06 and a two-hundred day moving average of $98.08. Rambus, Inc. has a twelve month low of $40.12 and a twelve month high of $135.75.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings data on Monday, February 2nd. The semiconductor company reported $0.68 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.68. The firm had revenue of $190.24 million during the quarter, compared to analysts’ expectations of $188.21 million. Rambus had a return on equity of 17.69% and a net margin of 32.57%. Equities analysts expect that Rambus, Inc. will post 1.89 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. William Blair initiated coverage on Rambus in a report on Thursday, January 22nd. They issued an “outperform” rating for the company. Susquehanna decreased their target price on Rambus from $100.00 to $90.00 and set a “neutral” rating for the company in a research report on Tuesday, February 3rd. Zacks Research upgraded Rambus to a “hold” rating in a report on Monday, January 26th. Cfra downgraded Rambus from a “hold” rating to a “moderate sell” rating in a research report on Monday, December 15th. Finally, Weiss Ratings downgraded Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, March 10th. 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $105.71.

Insider Buying and Selling

In other Rambus news, CEO Luc Seraphin sold 39,914 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $98.63, for a total value of $3,936,717.82. Following the completion of the sale, the chief executive officer directly owned 331,070 shares in the company, valued at $32,653,434.10. This trade represents a 10.76% decrease in their ownership of the stock. The sale 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 business’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 transaction, the chief financial officer owned 63,618 shares in the company, valued at approximately $6,459,135.54. This trade represents a 6.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.75% 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.