Thornburg Investment Management Inc. Has $7.15 Million Holdings in Rambus, Inc. $RMBS

Thornburg Investment Management Inc. lessened its position in Rambus, Inc. (NASDAQ:RMBS) by 20.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 68,591 shares of the semiconductor company’s stock after selling 18,157 shares during the quarter. Thornburg Investment Management Inc. owned approximately 0.06% of Rambus worth $7,147,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RMBS. Steigerwald Gordon & Koch Inc. acquired a new position in Rambus during the third quarter valued at $25,000. True Wealth Design LLC grew its stake in Rambus by 162.5% during the 2nd quarter. True Wealth Design LLC now owns 420 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 260 shares in the last quarter. Abound Wealth Management purchased a new stake in shares of Rambus in the third quarter worth approximately $28,000. Bessemer Group Inc. lifted its position in shares of Rambus by 105.8% in the second quarter. Bessemer Group Inc. now owns 463 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 238 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its holdings in shares of Rambus by 1,386.0% during the second quarter. Hantz Financial Services Inc. now owns 639 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 596 shares during the period. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Rambus Stock Performance

Shares of NASDAQ RMBS opened at $101.09 on Thursday. The business’s 50-day simple moving average is $102.38 and its 200-day simple moving average is $96.30. Rambus, Inc. has a 52 week low of $40.12 and a 52 week high of $135.75. The firm has a market cap of $10.90 billion, a price-to-earnings ratio of 47.91 and a beta of 1.53.

Rambus (NASDAQ:RMBS) last posted its earnings results on Monday, February 2nd. The semiconductor company reported $0.68 earnings per share for the quarter, hitting the consensus estimate of $0.68. Rambus had a return on equity of 17.69% and a net margin of 32.57%.The firm had revenue of $190.24 million during the quarter, compared to analyst estimates of $188.21 million. As a group, equities research analysts forecast that Rambus, Inc. will post 1.89 earnings per share for the current year.

Insider Activity

In related news, CFO Desmond Lynch sold 4,273 shares of the company’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $101.53, for a total transaction of $433,837.69. Following the completion of the sale, the chief financial officer directly owned 63,618 shares of the company’s stock, valued at approximately $6,459,135.54. This represents a 6.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on RMBS shares. William Blair assumed coverage on shares of Rambus in a research note on Thursday, January 22nd. They set an “outperform” rating for the company. Evercore cut their price target on Rambus from $126.00 to $119.00 and set an “outperform” rating for the company in a research note on Tuesday, February 3rd. Susquehanna dropped their price objective on Rambus from $100.00 to $90.00 and set a “neutral” rating on the stock in a report on Tuesday, February 3rd. Cfra cut shares of Rambus from a “hold” rating to a “moderate sell” rating in a research note on Monday, December 15th. Finally, Weiss Ratings raised shares of Rambus from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Rambus presently has an average rating of “Buy” and a consensus price target of $105.71.

Rambus 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.