Jennison Associates LLC Buys 6,566 Shares of Rambus, Inc. $RMBS

Jennison Associates LLC raised its stake in Rambus, Inc. (NASDAQ:RMBS) by 121.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,972 shares of the semiconductor company’s stock after acquiring an additional 6,566 shares during the period. Jennison Associates LLC’s holdings in Rambus were worth $1,100,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Krilogy Financial LLC increased its position in shares of Rambus by 5.3% in the fourth quarter. Krilogy Financial LLC now owns 2,157 shares of the semiconductor company’s stock worth $198,000 after purchasing an additional 108 shares during the period. Ashton Thomas Private Wealth LLC raised its stake in Rambus by 3.3% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,445 shares of the semiconductor company’s stock valued at $317,000 after purchasing an additional 110 shares in the last quarter. Allworth Financial LP lifted its position in Rambus by 8.2% during the third quarter. Allworth Financial LP now owns 1,601 shares of the semiconductor company’s stock worth $167,000 after purchasing an additional 121 shares during the period. Coldstream Capital Management Inc. grew its stake in Rambus by 2.2% during the third quarter. Coldstream Capital Management Inc. now owns 5,703 shares of the semiconductor company’s stock worth $594,000 after buying an additional 125 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Rambus by 3.3% during the fourth quarter. GAMMA Investing LLC now owns 4,833 shares of the semiconductor company’s stock worth $444,000 after buying an additional 153 shares in the last quarter. 88.54% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Desmond Lynch sold 4,273 shares of the company’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $101.53, for a total transaction of $433,837.69. Following the completion of the transaction, the chief financial officer directly owned 63,618 shares in the company, valued at approximately $6,459,135.54. This represents a 6.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Meera Rao sold 2,972 shares of the stock in a transaction on Friday, April 24th. The shares were sold at an average price of $150.30, for a total value of $446,691.60. Following the completion of the transaction, the director owned 19,974 shares of the company’s stock, valued at $3,002,092.20. The trade was a 12.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 61,123 shares of company stock valued at $6,295,577. 0.75% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RMBS. Zacks Research upgraded shares of Rambus to a “hold” rating in a research report on Monday, January 26th. Susquehanna reduced their price target on shares of Rambus from $100.00 to $90.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 3rd. Jefferies Financial Group lifted their price objective on shares of Rambus from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. William Blair initiated coverage on Rambus in a research note on Thursday, January 22nd. They set an “outperform” rating for the company. Finally, Wells Fargo & Company raised their target price on Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $130.43.

Rambus Stock Performance

RMBS stock opened at $111.93 on Monday. The stock has a market capitalization of $12.10 billion, a P/E ratio of 53.30 and a beta of 1.79. Rambus, Inc. has a 12 month low of $49.29 and a 12 month high of $161.80. The firm has a 50-day moving average price of $103.04 and a 200-day moving average price of $101.66.

Rambus (NASDAQ:RMBS) last announced 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 company had revenue of $180.19 million for the quarter, compared to analyst estimates 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 predict that Rambus, Inc. will post 2.44 EPS for the current fiscal year.

Rambus Company 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.