Legal & General Group Plc Sells 42,118 Shares of Rambus, Inc. $RMBS

Legal & General Group Plc reduced its position in shares of Rambus, Inc. (NASDAQ:RMBS) by 19.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 177,596 shares of the semiconductor company’s stock after selling 42,118 shares during the quarter. Legal & General Group Plc’s holdings in Rambus were worth $16,319,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Torren Management LLC bought a new stake in Rambus during the 4th quarter valued at $26,000. Spire Wealth Management raised its holdings in Rambus by 199.0% in the 4th quarter. Spire Wealth Management now owns 302 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 201 shares in the last quarter. IFP Advisors Inc raised its holdings in Rambus by 126.7% in the 3rd quarter. IFP Advisors Inc now owns 442 shares of the semiconductor company’s stock worth $47,000 after purchasing an additional 247 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in Rambus in the 4th quarter worth $50,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Rambus by 83.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 777 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 353 shares in the last quarter. 88.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have 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 objective for the company. in a report on Tuesday, April 28th. Weiss Ratings lowered shares of Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, March 10th. Susquehanna decreased their price objective on shares of Rambus from $100.00 to $90.00 and set a “neutral” rating for the company in a report on Tuesday, February 3rd. Evercore restated an “outperform” rating and issued a $172.00 price objective on shares of Rambus in a report on Tuesday, April 28th. Finally, Jefferies Financial Group upped their price objective on shares of Rambus from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $130.43.

Rambus Price Performance

NASDAQ:RMBS opened at $147.48 on Tuesday. The firm’s 50-day moving average price is $119.61 and its 200-day moving average price is $106.19. The company has a market capitalization of $15.95 billion, a PE ratio of 70.23 and a beta of 1.84. Rambus, Inc. has a 1-year low of $53.10 and a 1-year high of $161.80.

Rambus (NASDAQ:RMBS) last released its earnings results 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 for the quarter, compared to the consensus estimate of $179.94 million. Rambus had a net margin of 31.90% and a return on equity of 17.41%. Equities analysts anticipate that Rambus, Inc. will post 2.44 EPS for the current fiscal year.

Insider Buying and Selling at Rambus

In other Rambus news, EVP Xianzhi Sean Fan sold 37,914 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $151.69, for a total transaction of $5,751,174.66. Following the completion of the sale, the executive vice president directly owned 168,358 shares in the company, valued at approximately $25,538,225.02. This trade represents a 18.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Meera Rao sold 2,972 shares of the firm’s stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $150.30, for a total transaction of $446,691.60. Following the sale, the director owned 19,974 shares of the company’s stock, valued at approximately $3,002,092.20. This represents a 12.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 59,850 shares of company stock valued at $8,464,046 over the last 90 days. 0.75% of the stock is owned by corporate insiders.

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.