Swedbank AB Has $125.25 Million Holdings in Rambus, Inc. $RMBS

Swedbank AB trimmed its stake in Rambus, Inc. (NASDAQ:RMBS) by 19.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,363,000 shares of the semiconductor company’s stock after selling 337,000 shares during the period. Swedbank AB’s holdings in Rambus were worth $125,246,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Alliancebernstein L.P. lifted its position in Rambus by 572.7% in the 3rd quarter. Alliancebernstein L.P. now owns 1,822,030 shares of the semiconductor company’s stock valued at $189,856,000 after acquiring an additional 1,551,159 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Rambus by 196.0% during the 3rd 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 last quarter. Rafferty Asset Management LLC purchased a new stake in shares of Rambus during the 3rd quarter worth approximately $93,962,000. Barclays PLC increased its stake in shares of Rambus by 183.1% during the 3rd quarter. Barclays PLC now owns 894,906 shares of the semiconductor company’s stock worth $93,249,000 after purchasing an additional 578,839 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Rambus by 192.8% during the 2nd quarter. AQR Capital Management LLC now owns 701,746 shares of the semiconductor company’s stock worth $44,926,000 after purchasing an additional 462,116 shares during the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Rambus news, CFO Desmond Lynch sold 4,273 shares of the business’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $101.53, for a total value of $433,837.69. Following the transaction, the chief financial officer owned 63,618 shares in the company, valued at approximately $6,459,135.54. The trade was a 6.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Luc Seraphin sold 5,426 shares of the business’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $86.65, for a total transaction of $470,162.90. Following the completion of the transaction, the chief executive officer owned 345,767 shares in the company, valued at $29,960,710.55. The trade was a 1.55% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 61,123 shares of company stock valued at $6,295,577 over the last three months. Insiders own 0.75% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RMBS. Zacks Research upgraded shares of Rambus to a “hold” rating in a research note on Monday, January 26th. Jefferies Financial Group raised their price target on shares of Rambus from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Weiss Ratings lowered shares of Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, March 10th. Evercore restated an “outperform” rating and set a $172.00 price target on shares of Rambus in a research note on Tuesday, April 28th. Finally, Robert W. Baird lowered shares of Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price target for the company. in a research note on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $130.43.

Rambus Stock Performance

Shares of NASDAQ:RMBS opened at $142.98 on Friday. Rambus, Inc. has a 52-week low of $52.12 and a 52-week high of $161.80. The firm has a fifty day moving average of $112.98 and a 200 day moving average of $104.43. The firm has a market capitalization of $15.46 billion, a PE ratio of 68.09 and a beta of 1.79.

Rambus (NASDAQ:RMBS) last announced its earnings results on Monday, April 27th. The semiconductor company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.02. Rambus had a net margin of 31.90% and a return on equity of 17.41%. The company had revenue of $180.19 million during the quarter, compared to analyst estimates of $179.94 million. On average, sell-side analysts forecast that Rambus, Inc. will post 2.44 EPS for the current fiscal year.

About Rambus

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.