Alliancebernstein L.P. Acquires 1,551,159 Shares of Rambus, Inc. $RMBS

Alliancebernstein L.P. boosted its stake in shares of Rambus, Inc. (NASDAQ:RMBS) by 572.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,822,030 shares of the semiconductor company’s stock after purchasing an additional 1,551,159 shares during the period. Alliancebernstein L.P. owned about 1.69% of Rambus worth $189,856,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Farther Finance Advisors LLC raised its stake 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 worth $109,000 after buying an additional 167 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Rambus by 2.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 9,363 shares of the semiconductor company’s stock valued at $907,000 after acquiring an additional 187 shares during the period. CI Investments Inc. lifted its position in shares of Rambus by 39.5% in the third quarter. CI Investments Inc. now owns 661 shares of the semiconductor company’s stock valued at $69,000 after acquiring an additional 187 shares in the last quarter. Campbell Newman Asset Management Inc. lifted its position in shares of Rambus by 0.5% in the third quarter. Campbell Newman Asset Management Inc. now owns 41,851 shares of the semiconductor company’s stock valued at $4,361,000 after acquiring an additional 188 shares in the last quarter. Finally, KLP Kapitalforvaltning AS boosted its stake in shares of Rambus by 0.9% in the third quarter. KLP Kapitalforvaltning AS now owns 22,400 shares of the semiconductor company’s stock worth $2,334,000 after acquiring an additional 200 shares during the period. Institutional investors own 88.54% of the company’s stock.

Rambus Price Performance

Shares of RMBS opened at $92.78 on Tuesday. The firm has a market capitalization of $10.04 billion, a price-to-earnings ratio of 43.97 and a beta of 1.55. The company has a 50-day moving average of $101.96 and a 200 day moving average of $98.16. Rambus, Inc. has a 1-year low of $40.12 and a 1-year high of $135.75.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings data on Monday, February 2nd. The semiconductor company reported $0.68 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.68. The company had revenue of $190.24 million for 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%. On average, equities analysts anticipate that Rambus, Inc. will post 1.89 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

RMBS has been the topic of a number of research analyst reports. Rosenblatt Securities reissued a “buy” rating and issued a $130.00 price target on shares of Rambus in a report on Tuesday, February 3rd. Susquehanna reduced their target price on Rambus from $100.00 to $90.00 and set a “neutral” rating on the stock in a report on Tuesday, February 3rd. Zacks Research upgraded Rambus to a “hold” rating in a research report on Monday, January 26th. Weiss Ratings lowered Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, March 10th. Finally, Cfra downgraded Rambus from a “hold” rating to a “moderate sell” rating in a research report on Monday, December 15th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $105.71.

Insiders Place Their Bets

In other news, CEO Luc Seraphin sold 39,914 shares of Rambus stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $98.63, for a total value of $3,936,717.82. Following the transaction, the chief executive officer directly owned 331,070 shares in the company, valued at approximately $32,653,434.10. This trade represents a 10.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 completion of the transaction, the chief financial officer directly owned 63,618 shares of the company’s stock, valued at approximately $6,459,135.54. The trade was a 6.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company 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.