Granahan Investment Management LLC Has $24.11 Million Holdings in Rambus, Inc. $RMBS

Granahan Investment Management LLC boosted its position in shares of Rambus, Inc. (NASDAQ:RMBS) by 5.5% in the first quarter, Holdings Channel.com reports. The firm owned 280,246 shares of the semiconductor company’s stock after acquiring an additional 14,730 shares during the period. Rambus makes up about 1.2% of Granahan Investment Management LLC’s investment portfolio, making the stock its 22nd largest position. Granahan Investment Management LLC’s holdings in Rambus were worth $24,110,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Invesco Ltd. lifted its holdings in shares of Rambus by 70.6% in the fourth quarter. Invesco Ltd. now owns 4,148,653 shares of the semiconductor company’s stock valued at $381,220,000 after purchasing an additional 1,716,621 shares in the last quarter. Norges Bank bought a new position in shares of Rambus during the fourth quarter worth about $156,356,000. Bank of America Corp DE raised its position in Rambus by 196.0% in the 3rd quarter. Bank of America Corp DE now owns 1,550,665 shares of the semiconductor company’s stock valued at $161,579,000 after buying an additional 1,026,776 shares during the last quarter. Bessemer Group Inc. raised its position in Rambus by 1,009.5% in the 1st quarter. Bessemer Group Inc. now owns 1,039,905 shares of the semiconductor company’s stock valued at $89,463,000 after buying an additional 946,177 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in Rambus by 192.8% in the 2nd quarter. AQR Capital Management LLC now owns 701,746 shares of the semiconductor company’s stock valued at $44,926,000 after acquiring an additional 462,116 shares in the last quarter. Institutional investors and hedge funds own 88.54% of the company’s stock.

Insider Activity

In other Rambus news, EVP Xianzhi Sean Fan sold 37,914 shares of the company’s stock in a transaction on 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 sale, the executive vice president directly owned 168,358 shares of the company’s stock, valued at approximately $25,538,225.02. This represents a 18.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Emiko Higashi sold 10,000 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $160.50, for a total transaction of $1,605,000.00. Following the completion of the sale, the director owned 49,519 shares of the company’s stock, valued at approximately $7,947,799.50. This represents a 16.80% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 62,914 shares of company stock valued at $9,724,775. 0.75% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RMBS. Benchmark assumed coverage on Rambus in a research report on Wednesday, July 15th. They set a “buy” rating and a $165.00 price target for the company. Rosenblatt Securities lifted their price objective on shares of Rambus from $130.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Evercore reissued an “outperform” rating and issued a $172.00 price objective on shares of Rambus in a research 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. Finally, Jefferies Financial Group raised their target price on shares of Rambus from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Rambus currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.75.

Rambus Stock Down 7.0%

Shares of Rambus stock opened at $96.01 on Friday. Rambus, Inc. has a 12-month low of $62.81 and a 12-month high of $174.10. The stock has a market cap of $10.38 billion, a P/E ratio of 45.72 and a beta of 1.84. The business’s 50 day moving average is $128.78 and its 200-day moving average is $114.28.

Rambus (NASDAQ:RMBS) last released its quarterly earnings data 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 return on equity of 17.41% and a net margin of 31.90%.The company had revenue of $180.19 million during the quarter, compared to the consensus estimate of $179.94 million. On average, sell-side analysts expect that Rambus, Inc. will post 2.44 EPS for the current 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.