SG Americas Securities LLC Boosts Holdings in Rambus, Inc. $RMBS

SG Americas Securities LLC boosted its stake in Rambus, Inc. (NASDAQ:RMBS) by 45.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 63,652 shares of the semiconductor company’s stock after purchasing an additional 19,772 shares during the period. SG Americas Securities LLC’s holdings in Rambus were worth $5,849,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Rambus during the 2nd quarter worth $126,268,000. EdgePoint Investment Group Inc. lifted its holdings in Rambus by 138.4% during the second quarter. EdgePoint Investment Group Inc. now owns 2,787,327 shares of the semiconductor company’s stock valued at $178,445,000 after purchasing an additional 1,618,133 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in Rambus by 572.7% during the third quarter. Alliancebernstein L.P. now owns 1,822,030 shares of the semiconductor company’s stock valued at $189,856,000 after purchasing an additional 1,551,159 shares during the last quarter. Bank of America Corp DE boosted its position in Rambus by 196.0% during the third quarter. Bank of America Corp DE now owns 1,550,665 shares of the semiconductor company’s stock worth $161,579,000 after purchasing an additional 1,026,776 shares during the period. Finally, Rafferty Asset Management LLC bought a new position in Rambus during the third quarter worth about $93,962,000. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RMBS has been the topic of several research reports. Cfra lowered shares of Rambus from a “hold” rating to a “moderate sell” rating in a research report on Monday, December 15th. Susquehanna cut their price objective on shares of Rambus from $100.00 to $90.00 and set a “neutral” rating for the company in a report on Tuesday, February 3rd. Rosenblatt Securities reissued a “buy” rating and set a $130.00 target price on shares of Rambus in a report on Tuesday, February 3rd. William Blair began coverage on Rambus in a research report on Thursday, January 22nd. They set an “outperform” rating on the stock. Finally, Zacks Research raised Rambus to a “hold” rating in a report on Monday, January 26th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $105.71.

Rambus Price Performance

NASDAQ RMBS opened at $86.03 on Wednesday. The company’s 50 day simple moving average is $100.17 and its two-hundred day simple moving average is $99.27. Rambus, Inc. has a 1 year low of $40.12 and a 1 year high of $135.75. The stock has a market capitalization of $9.31 billion, a PE ratio of 40.77 and a beta of 1.55.

Rambus (NASDAQ:RMBS) last released its quarterly earnings results on Monday, February 2nd. The semiconductor company reported $0.68 EPS for the quarter, meeting analysts’ consensus estimates of $0.68. The firm had revenue of $190.24 million during 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, research analysts anticipate that Rambus, Inc. will post 1.89 EPS for the current year.

Insider Buying and Selling at Rambus

In other Rambus news, CFO Desmond Lynch sold 4,273 shares of the firm’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $101.53, for a total value of $433,837.69. Following the sale, the chief financial officer owned 63,618 shares of the company’s stock, valued at $6,459,135.54. This trade represents a 6.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Luc Seraphin sold 39,914 shares of Rambus stock in a transaction dated Monday, March 2nd. The shares were 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 of the company’s stock, valued at approximately $32,653,434.10. This trade represents a 10.76% decrease in their position. The SEC filing for this sale provides additional information. 0.75% of the stock is currently owned by company insiders.

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.