Emerald Advisers LLC Trims Stake in Rambus, Inc. $RMBS

Emerald Advisers LLC lessened its stake in shares of Rambus, Inc. (NASDAQ:RMBS) by 21.3% during the first quarter, Holdings Channel.com reports. The institutional investor owned 493,236 shares of the semiconductor company’s stock after selling 133,749 shares during the period. Rambus accounts for about 1.3% of Emerald Advisers LLC’s portfolio, making the stock its 17th largest position. Emerald Advisers LLC’s holdings in Rambus were worth $42,433,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in shares of Rambus by 22.6% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 9,346 shares of the semiconductor company’s stock worth $804,000 after acquiring an additional 1,721 shares during the last quarter. State of Michigan Retirement System boosted its stake in shares of Rambus by 2.0% during the first quarter. State of Michigan Retirement System now owns 25,900 shares of the semiconductor company’s stock valued at $2,228,000 after acquiring an additional 500 shares during the last quarter. Schwartz Investment Counsel Inc. increased its position in Rambus by 133.1% during the 1st quarter. Schwartz Investment Counsel Inc. now owns 420,337 shares of the semiconductor company’s stock worth $36,162,000 after purchasing an additional 240,000 shares in the last quarter. Diversify Wealth Management LLC increased its position in Rambus by 75.7% during the 1st quarter. Diversify Wealth Management LLC now owns 31,253 shares of the semiconductor company’s stock worth $2,689,000 after purchasing an additional 13,470 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in Rambus by 1,675.5% during the 1st quarter. Fifth Third Bancorp now owns 27,361 shares of the semiconductor company’s stock worth $2,354,000 after purchasing an additional 25,820 shares in the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Stock Down 8.0%

Shares of NASDAQ:RMBS opened at $103.11 on Tuesday. The company has a market cap of $11.15 billion, a P/E ratio of 49.10 and a beta of 1.84. The business has a fifty day simple moving average of $133.58 and a 200-day simple moving average of $113.91. Rambus, Inc. has a 52 week low of $61.16 and a 52 week high of $174.10.

Rambus (NASDAQ:RMBS) last released its earnings results on Monday, April 27th. The semiconductor company reported $0.63 earnings per share for the quarter, topping 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 firm had revenue of $180.19 million for the quarter, compared to the consensus estimate of $179.94 million. Sell-side analysts expect that Rambus, Inc. will post 2.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on RMBS. Robert W. Baird lowered shares of Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 target price on the stock. in a report on Tuesday, April 28th. Wells Fargo & Company raised their price target on shares of Rambus from $115.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Jefferies Financial Group lifted their price target on shares of Rambus from $120.00 to $145.00 and gave the stock 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. Finally, Rosenblatt Securities upped their price objective on shares of Rambus from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Rambus has an average rating of “Moderate Buy” and a consensus target price of $130.43.

Insider Activity at Rambus

In other news, EVP Xianzhi Sean Fan sold 37,914 shares of the company’s stock in a transaction dated 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 completion of the transaction, the executive vice president owned 168,358 shares of the company’s stock, valued at $25,538,225.02. This represents a 18.38% decrease in their position. The transaction was disclosed in a legal 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 transaction, the director owned 19,218 shares in the company, valued at approximately $2,805,828. The trade was a 20.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 65,886 shares of company stock worth $10,171,466. Corporate insiders own 0.75% of the company’s stock.

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.