EdgePoint Investment Group Inc. Sells 104,371 Shares of Rambus, Inc. $RMBS

EdgePoint Investment Group Inc. decreased its position in Rambus, Inc. (NASDAQ:RMBS) by 3.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,682,956 shares of the semiconductor company’s stock after selling 104,371 shares during the period. Rambus makes up 2.1% of EdgePoint Investment Group Inc.’s portfolio, making the stock its 17th largest position. EdgePoint Investment Group Inc. owned approximately 2.49% of Rambus worth $279,564,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Steigerwald Gordon & Koch Inc. bought a new position in Rambus during the third quarter worth about $25,000. Abound Wealth Management acquired a new position in Rambus in the third quarter valued at about $28,000. EverSource Wealth Advisors LLC increased its holdings in shares of Rambus by 83.3% in the second quarter. EverSource Wealth Advisors LLC now owns 777 shares of the semiconductor company’s stock worth $50,000 after acquiring an additional 353 shares in the last quarter. CI Investments Inc. increased its holdings in shares of Rambus by 39.5% in the third quarter. CI Investments Inc. now owns 661 shares of the semiconductor company’s stock worth $69,000 after acquiring an additional 187 shares in the last quarter. Finally, Covestor Ltd raised its position in shares of Rambus by 46.4% during the third quarter. Covestor Ltd now owns 675 shares of the semiconductor company’s stock worth $70,000 after purchasing an additional 214 shares during the period. Institutional investors own 88.54% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on RMBS. Cfra cut Rambus from a “hold” rating to a “moderate sell” rating in a report on Monday, December 15th. William Blair started coverage on shares of Rambus in a research note on Thursday, January 22nd. They issued an “outperform” rating on the stock. Weiss Ratings cut shares of Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday. Rosenblatt Securities reissued a “buy” rating and set a $130.00 price objective on shares of Rambus in a research report on Tuesday, February 3rd. Finally, Evercore cut their price objective on shares of Rambus from $126.00 to $119.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 3rd. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $105.71.

Insider Transactions at Rambus

In related news, CFO Desmond Lynch sold 4,273 shares of the company’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $101.53, for a total transaction of $433,837.69. Following the sale, the chief financial officer owned 63,618 shares in the company, valued at approximately $6,459,135.54. This represents a 6.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Luc Seraphin sold 39,914 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $98.63, for a total value of $3,936,717.82. Following the sale, the chief executive officer owned 331,070 shares in the company, valued at $32,653,434.10. The trade was a 10.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.00% of the company’s stock.

Rambus Stock Up 4.7%

Shares of RMBS opened at $94.01 on Friday. Rambus, Inc. has a twelve month low of $40.12 and a twelve month high of $135.75. The stock has a market capitalization of $10.17 billion, a P/E ratio of 44.55 and a beta of 1.55. The company has a 50 day moving average of $102.06 and a 200-day moving average of $97.92.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings data on Monday, February 2nd. The semiconductor company reported $0.68 EPS for the quarter, hitting analysts’ consensus estimates of $0.68. The business had revenue of $190.24 million for the quarter, compared to analyst estimates of $188.21 million. Rambus had a net margin of 32.57% and a return on equity of 17.69%. On average, sell-side analysts anticipate that Rambus, Inc. will post 1.89 earnings per share for the current fiscal 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.