Aurora Investment Counsel Cuts Stake in Rambus, Inc. $RMBS

Aurora Investment Counsel reduced its stake in shares of Rambus, Inc. (NASDAQ:RMBS) by 18.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 19,198 shares of the semiconductor company’s stock after selling 4,400 shares during the quarter. Aurora Investment Counsel’s holdings in Rambus were worth $1,764,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in RMBS. Acumen Wealth Advisors LLC acquired a new stake in shares of Rambus during the fourth quarter worth $25,000. Torren Management LLC acquired a new stake in shares of Rambus during the fourth quarter worth $26,000. Spire Wealth Management lifted its stake in shares of Rambus by 199.0% during the fourth quarter. Spire Wealth Management now owns 302 shares of the semiconductor company’s stock worth $28,000 after buying an additional 201 shares during the period. IFP Advisors Inc lifted its stake in shares of Rambus by 126.7% during the third quarter. IFP Advisors Inc now owns 442 shares of the semiconductor company’s stock worth $47,000 after buying an additional 247 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Rambus during the fourth quarter worth $50,000. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on RMBS. Rosenblatt Securities lifted their price objective on shares of Rambus from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Evercore reiterated an “outperform” rating and set a $172.00 price objective on shares of Rambus in a research note on Tuesday, April 28th. Robert W. Baird downgraded shares of Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price objective for the company. in a research note on Tuesday, April 28th. Jefferies Financial Group lifted their price objective on shares of Rambus from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Rambus in a research note on Friday, June 5th. One research 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 stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $130.43.

Insider Buying and Selling

In other Rambus news, Director Necip Sayiner sold 5,000 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $170.15, for a total value of $850,750.00. Following the sale, the director directly owned 18,223 shares of the company’s stock, valued at approximately $3,100,643.45. This represents a 21.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Meera Rao sold 2,972 shares of the company’s stock in a transaction on Friday, April 24th. The shares were sold at an average price of $150.30, for a total transaction of $446,691.60. Following the completion of the sale, the director directly owned 19,974 shares in the company, valued at approximately $3,002,092.20. The trade was a 12.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 79,850 shares of company stock valued at $11,649,796 in the last 90 days. 0.75% of the stock is currently owned by insiders.

Rambus Stock Performance

NASDAQ:RMBS opened at $146.56 on Friday. Rambus, Inc. has a one year low of $57.98 and a one year high of $174.10. The firm has a market cap of $15.85 billion, a price-to-earnings ratio of 69.79 and a beta of 1.84. The firm’s fifty day moving average is $131.01 and its two-hundred day moving average is $109.96.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings results on Monday, April 27th. The semiconductor company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.61 by $0.02. Rambus had a net margin of 31.90% and a return on equity of 17.41%. The company had revenue of $180.19 million for the quarter, compared to analyst estimates of $179.94 million. As a group, equities research analysts predict that Rambus, Inc. will post 2.44 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.