Rambus, Inc. $RMBS Shares Sold by Moody Aldrich Partners LLC

Moody Aldrich Partners LLC trimmed its position in Rambus, Inc. (NASDAQ:RMBS) by 39.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 47,803 shares of the semiconductor company’s stock after selling 31,347 shares during the period. Moody Aldrich Partners LLC’s holdings in Rambus were worth $4,981,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its holdings in Rambus by 626.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 495,453 shares of the semiconductor company’s stock valued at $51,101,000 after acquiring an additional 427,297 shares during the last quarter. Calamos Advisors LLC purchased a new stake in Rambus in the third quarter valued at $973,000. Pacer Advisors Inc. lifted its stake in shares of Rambus by 241.2% in the 3rd quarter. Pacer Advisors Inc. now owns 18,864 shares of the semiconductor company’s stock valued at $1,966,000 after purchasing an additional 13,336 shares during the last quarter. Norden Group LLC grew its holdings in shares of Rambus by 2.8% during the 3rd quarter. Norden Group LLC now owns 7,655 shares of the semiconductor company’s stock worth $798,000 after purchasing an additional 208 shares during the period. Finally, Global X Japan Co. Ltd. acquired a new stake in shares of Rambus during the 3rd quarter worth about $561,000. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Analysts Set New Price Targets

RMBS has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Rambus in a research report on Monday. Rosenblatt Securities reissued a “buy” rating and issued a $130.00 price target on shares of Rambus in a research note on Tuesday, October 28th. Susquehanna set a $100.00 price objective on shares of Rambus and gave the stock a “neutral” rating in a research report on Monday, October 6th. Jefferies Financial Group upgraded shares of Rambus to a “strong-buy” rating in a report on Tuesday, October 28th. Finally, Robert W. Baird upped their price target on Rambus from $90.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, September 15th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $108.14.

Insiders Place Their Bets

In related news, Director Eric B. Stang sold 4,000 shares of Rambus stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $111.78, for a total value of $447,120.00. Following the completion of the transaction, the director owned 20,394 shares in the company, valued at $2,279,641.32. The trade was a 16.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is currently owned by company insiders.

Rambus Trading Down 3.0%

NASDAQ:RMBS opened at $91.89 on Thursday. Rambus, Inc. has a 12-month low of $40.12 and a 12-month high of $114.55. The firm has a market cap of $9.89 billion, a PE ratio of 43.55 and a beta of 1.51. The stock has a fifty day moving average price of $98.42 and a 200 day moving average price of $85.56.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings results on Monday, October 27th. The semiconductor company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.18). The company had revenue of $178.51 million during the quarter, compared to analyst estimates of $175.60 million. Rambus had a net margin of 33.72% and a return on equity of 17.73%. Rambus’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.45 EPS. Equities analysts forecast that Rambus, Inc. will post 1.89 EPS for the current 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.