ProShare Advisors LLC Raises Position in Rambus, Inc. $RMBS

ProShare Advisors LLC raised its holdings in shares of Rambus, Inc. (NASDAQ:RMBS) by 14.6% during the 4th quarter, HoldingsChannel reports. The fund owned 37,770 shares of the semiconductor company’s stock after acquiring an additional 4,812 shares during the quarter. ProShare Advisors LLC’s holdings in Rambus were worth $3,471,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. HighTower Advisors LLC boosted its stake in shares of Rambus by 2.2% during the 4th quarter. HighTower Advisors LLC now owns 157,470 shares of the semiconductor company’s stock worth $14,470,000 after acquiring an additional 3,441 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its position in shares of Rambus by 1.7% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 17,075 shares of the semiconductor company’s stock valued at $1,569,000 after purchasing an additional 280 shares during the period. Abacus Wealth Partners LLC bought a new stake in shares of Rambus during the 4th quarter valued at $203,000. AMJ Financial Wealth Management raised its position in shares of Rambus by 252.0% during the 4th quarter. AMJ Financial Wealth Management now owns 94,946 shares of the semiconductor company’s stock valued at $8,725,000 after purchasing an additional 67,973 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC raised its position in shares of Rambus by 0.4% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 24,085 shares of the semiconductor company’s stock valued at $2,213,000 after purchasing an additional 103 shares during the period. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Stock Performance

Shares of NASDAQ RMBS opened at $142.98 on Friday. The company has a market cap of $15.46 billion, a P/E ratio of 68.09 and a beta of 1.79. The firm’s fifty day moving average is $112.98 and its two-hundred day moving average is $104.43. Rambus, Inc. has a 52-week low of $52.12 and a 52-week high of $161.80.

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

Analyst Ratings Changes

Several analysts have recently commented on RMBS shares. Wells Fargo & Company raised their price objective on shares of Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Susquehanna decreased their price objective on shares of Rambus from $100.00 to $90.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 3rd. Rosenblatt Securities raised their price objective on shares of Rambus from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Zacks Research upgraded shares of Rambus to a “hold” rating in a research report on Monday, January 26th. Finally, Robert W. Baird downgraded shares of Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price objective on the stock. in a research report on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Rambus has an average rating of “Moderate Buy” and a consensus price target of $130.43.

Insider Buying and Selling at Rambus

In other Rambus news, CFO Desmond Lynch sold 4,273 shares of Rambus stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $101.53, for a total value of $433,837.69. Following the sale, the chief financial officer directly owned 63,618 shares in the company, valued at approximately $6,459,135.54. The trade was a 6.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Luc Seraphin sold 5,426 shares of Rambus stock in a transaction on 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 sale, the chief executive officer owned 345,767 shares in the company, valued at approximately $29,960,710.55. This represents a 1.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 61,123 shares of company stock worth $6,295,577. 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.