Janus Henderson Group PLC Sells 20,623 Shares of Rambus, Inc. $RMBS

Janus Henderson Group PLC trimmed its holdings in Rambus, Inc. (NASDAQ:RMBS) by 5.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 358,892 shares of the semiconductor company’s stock after selling 20,623 shares during the period. Janus Henderson Group PLC’s holdings in Rambus were worth $30,875,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Amundi raised its stake in Rambus by 32.4% in the 1st quarter. Amundi now owns 16,384 shares of the semiconductor company’s stock valued at $1,410,000 after acquiring an additional 4,013 shares during the period. EverSource Wealth Advisors LLC boosted its position in Rambus by 14.8% during the first quarter. EverSource Wealth Advisors LLC now owns 2,188 shares of the semiconductor company’s stock worth $188,000 after purchasing an additional 282 shares during the period. California State Teachers Retirement System increased its holdings in shares of Rambus by 22.9% in the first quarter. California State Teachers Retirement System now owns 124,195 shares of the semiconductor company’s stock valued at $10,684,000 after purchasing an additional 23,170 shares during the last quarter. Ranger Investment Management L.P. raised its position in shares of Rambus by 135.0% in the first quarter. Ranger Investment Management L.P. now owns 224,365 shares of the semiconductor company’s stock valued at $19,302,000 after purchasing an additional 128,875 shares during the period. Finally, EdgePoint Investment Group Inc. lifted its stake in shares of Rambus by 38.5% during the 1st quarter. EdgePoint Investment Group Inc. now owns 1,947,742 shares of the semiconductor company’s stock worth $167,564,000 after buying an additional 541,056 shares during the last quarter. 88.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RMBS has been the topic of several research analyst reports. Glj Research set a $165.00 price target on shares of Rambus in a report on Tuesday, July 28th. Jefferies Financial Group boosted their price objective on Rambus from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Evercore reaffirmed an “outperform” rating and issued a $172.00 target price on shares of Rambus in a research report on Tuesday, April 28th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rambus in a research note on Friday, June 5th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $165.00 price target on shares of Rambus in a report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $139.78.

Insiders Place Their Bets

In related news, Director Necip Sayiner sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was 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 $3,100,643.45. This trade represents a 21.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Eric B. Stang sold 5,000 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $146.00, for a total transaction of $730,000.00. Following the completion of the transaction, the director directly owned 19,218 shares of the company’s stock, valued at $2,805,828. This trade represents a 20.65% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 62,914 shares of company stock worth $9,724,775. 0.75% of the stock is owned by company insiders.

Rambus Price Performance

Shares of NASDAQ:RMBS opened at $91.12 on Monday. Rambus, Inc. has a 1 year low of $67.15 and a 1 year high of $174.10. The stock has a market capitalization of $9.88 billion, a price-to-earnings ratio of 41.80 and a beta of 1.88. The company’s 50 day simple moving average is $124.45 and its 200 day simple moving average is $114.27.

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.