Rambus, Inc. $RMBS Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lessened its holdings in shares of Rambus, Inc. (NASDAQ:RMBS) by 51.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,357 shares of the semiconductor company’s stock after selling 48,297 shares during the period. Assenagon Asset Management S.A.’s holdings in Rambus were worth $4,260,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. NewEdge Advisors LLC increased its holdings in shares of Rambus by 22,321.4% during the first quarter. NewEdge Advisors LLC now owns 9,417 shares of the semiconductor company’s stock valued at $488,000 after acquiring an additional 9,375 shares in the last quarter. Empowered Funds LLC boosted its stake in Rambus by 34.1% in the 1st quarter. Empowered Funds LLC now owns 22,750 shares of the semiconductor company’s stock worth $1,178,000 after purchasing an additional 5,783 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Rambus by 6.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 309,512 shares of the semiconductor company’s stock worth $16,025,000 after purchasing an additional 19,120 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in Rambus during the 1st quarter worth approximately $218,000. Finally, Cetera Investment Advisers increased its stake in Rambus by 15.1% during the 2nd quarter. Cetera Investment Advisers now owns 31,667 shares of the semiconductor company’s stock valued at $2,027,000 after purchasing an additional 4,160 shares in the last quarter. Institutional investors and hedge funds own 88.54% of the company’s stock.

Insider Transactions at Rambus

In related news, CEO Luc Seraphin sold 39,914 shares of Rambus stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 331,070 shares in the company, valued at $32,653,434.10. The trade was a 10.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Desmond Lynch sold 4,273 shares of the company’s stock in a transaction dated 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 $6,459,135.54. The trade was a 6.29% decrease in their position. The SEC filing for this sale provides additional information. 0.75% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on RMBS shares. Zacks Research upgraded Rambus to a “hold” rating in a research note on Monday, January 26th. Rosenblatt Securities reiterated a “buy” rating and set a $130.00 price target on shares of Rambus in a research note on Tuesday, February 3rd. Evercore cut their price objective on Rambus from $126.00 to $119.00 and set an “outperform” rating on the stock in a report on Tuesday, February 3rd. Weiss Ratings downgraded Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, March 10th. Finally, Susquehanna dropped their target price on Rambus from $100.00 to $90.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 3rd. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $105.71.

Rambus Price Performance

NASDAQ:RMBS opened at $89.73 on Monday. The firm has a market cap of $9.71 billion, a price-to-earnings ratio of 42.53 and a beta of 1.55. The company has a 50 day moving average price of $101.22 and a 200-day moving average price of $99.33. 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 results on Monday, February 2nd. The semiconductor company reported $0.68 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.68. The firm had revenue of $190.24 million for the quarter, compared to the consensus estimate of $188.21 million. Rambus had a net margin of 32.57% and a return on equity of 17.69%. On average, sell-side analysts anticipate that Rambus, Inc. will post 1.89 earnings per share for the current fiscal year.

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.