Granahan Investment Management LLC Buys 108,362 Shares of Rambus, Inc. $RMBS

Granahan Investment Management LLC raised its position in shares of Rambus, Inc. (NASDAQ:RMBS) by 83.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 238,443 shares of the semiconductor company’s stock after purchasing an additional 108,362 shares during the quarter. Granahan Investment Management LLC’s holdings in Rambus were worth $24,846,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Steigerwald Gordon & Koch Inc. acquired a new position in shares of Rambus in the 3rd quarter worth approximately $25,000. Abound Wealth Management bought a new stake in shares of Rambus in the 3rd quarter valued at $28,000. EverSource Wealth Advisors LLC increased its position in shares of Rambus by 83.3% during the second quarter. EverSource Wealth Advisors LLC now owns 777 shares of the semiconductor company’s stock worth $50,000 after buying an additional 353 shares during the period. CI Investments Inc. increased its position in shares of Rambus by 39.5% during the third quarter. CI Investments Inc. now owns 661 shares of the semiconductor company’s stock worth $69,000 after buying an additional 187 shares during the period. Finally, Covestor Ltd raised its stake in Rambus by 46.4% during the third quarter. Covestor Ltd now owns 675 shares of the semiconductor company’s stock worth $70,000 after buying an additional 214 shares during the last quarter. Institutional investors own 88.54% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on RMBS. Zacks Research upgraded shares of Rambus to a “hold” rating in a report on Monday, January 26th. Susquehanna lowered their price objective on Rambus from $100.00 to $90.00 and set a “neutral” rating for the company in a research report on Tuesday, February 3rd. Evercore dropped their price objective on Rambus from $126.00 to $119.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 3rd. William Blair started coverage on Rambus in a research report on Thursday, January 22nd. They set an “outperform” rating on the stock. Finally, Weiss Ratings cut Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, March 10th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $105.71.

Insider Transactions at Rambus

In related news, CEO Luc Seraphin sold 39,914 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $98.63, for a total transaction of $3,936,717.82. Following the transaction, the chief executive officer directly owned 331,070 shares of the company’s stock, valued at approximately $32,653,434.10. This represents a 10.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Desmond Lynch sold 4,273 shares of the company’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $101.53, for a total value of $433,837.69. Following the transaction, the chief financial officer directly owned 63,618 shares in the company, valued at approximately $6,459,135.54. This trade represents a 6.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.75% of the stock is owned by corporate insiders.

Rambus Stock Up 4.7%

Rambus stock opened at $94.01 on Monday. The company has a market capitalization of $10.17 billion, a PE ratio of 44.55 and a beta of 1.55. Rambus, Inc. has a 12-month low of $40.12 and a 12-month high of $135.75. The firm’s fifty day moving average is $102.06 and its 200 day moving average is $98.08.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings results on Monday, February 2nd. The semiconductor company reported $0.68 EPS for the quarter, hitting analysts’ consensus estimates of $0.68. Rambus had a net margin of 32.57% and a return on equity of 17.69%. The business had revenue of $190.24 million during the quarter, compared to analysts’ expectations of $188.21 million. Sell-side analysts expect that Rambus, Inc. will post 1.89 EPS for the current fiscal year.

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.