Rambus, Inc. $RMBS Shares Sold by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP cut its holdings in shares of Rambus, Inc. (NASDAQ:RMBS) by 25.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 362,092 shares of the semiconductor company’s stock after selling 122,373 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Rambus were worth $33,273,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Rambus by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 12,701,773 shares of the semiconductor company’s stock worth $1,323,525,000 after buying an additional 140,948 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Rambus by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 2,842,715 shares of the semiconductor company’s stock worth $261,256,000 after buying an additional 94,214 shares in the last quarter. Invesco Ltd. lifted its holdings in Rambus by 4.7% during the 3rd quarter. Invesco Ltd. now owns 2,432,032 shares of the semiconductor company’s stock worth $253,418,000 after buying an additional 109,908 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Rambus by 0.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,928,697 shares of the semiconductor company’s stock worth $200,966,000 after buying an additional 11,024 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in Rambus by 572.7% during the 3rd quarter. Alliancebernstein L.P. now owns 1,822,030 shares of the semiconductor company’s stock worth $189,856,000 after buying an additional 1,551,159 shares in the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Rambus Price Performance

Rambus stock opened at $145.31 on Friday. Rambus, Inc. has a 1-year low of $57.12 and a 1-year high of $174.10. The stock has a market cap of $15.71 billion, a PE ratio of 69.20 and a beta of 1.84. The stock’s fifty day moving average is $125.18 and its two-hundred day moving average is $107.98.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings results on Monday, April 27th. The semiconductor company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. Rambus had a return on equity of 17.41% and a net margin of 31.90%.The company had revenue of $180.19 million for the quarter, compared to analysts’ expectations of $179.94 million. On average, research analysts expect that Rambus, Inc. will post 2.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Necip Sayiner sold 5,000 shares of Rambus stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $170.15, for a total transaction of $850,750.00. Following the sale, the director owned 18,223 shares in the company, valued at approximately $3,100,643.45. The trade was a 21.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Xianzhi Sean Fan sold 37,914 shares of Rambus stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $151.69, for a total value of $5,751,174.66. Following the sale, the executive vice president owned 168,358 shares in the company, valued at $25,538,225.02. This trade represents a 18.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 79,850 shares of company stock valued at $11,649,796 over the last 90 days. 0.75% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on RMBS shares. Robert W. Baird lowered shares of Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 target price on the stock. in a report on Tuesday, April 28th. Wells Fargo & Company increased their target price on shares of Rambus from $115.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. Rosenblatt Securities increased their target price on shares of Rambus from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Evercore reiterated an “outperform” rating and set a $172.00 target price on shares of Rambus in a report on Tuesday, April 28th. Finally, Weiss Ratings downgraded shares of Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, March 10th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $130.43.

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.