Jennison Associates LLC Sells 5,233 Shares of Rambus, Inc. $RMBS

Jennison Associates LLC trimmed its holdings in shares of Rambus, Inc. (NASDAQ:RMBS) by 43.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,739 shares of the semiconductor company’s stock after selling 5,233 shares during the quarter. Jennison Associates LLC’s holdings in Rambus were worth $580,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Krilogy Financial LLC lifted its holdings in shares of Rambus by 3.8% during the first quarter. Krilogy Financial LLC now owns 2,238 shares of the semiconductor company’s stock worth $193,000 after purchasing an additional 81 shares during the period. Oak Grove Capital LLC raised its position in Rambus by 1.3% during the 4th quarter. Oak Grove Capital LLC now owns 7,600 shares of the semiconductor company’s stock worth $698,000 after purchasing an additional 100 shares during the last quarter. Northwestern Mutual Investment Management Company LLC raised its position in 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 worth $2,213,000 after purchasing an additional 103 shares during the last quarter. Ashton Thomas Private Wealth LLC lifted its holdings in Rambus by 3.3% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,445 shares of the semiconductor company’s stock worth $317,000 after buying an additional 110 shares during the period. Finally, Meeder Advisory Services Inc. lifted its holdings in Rambus by 3.0% during the 4th quarter. Meeder Advisory Services Inc. now owns 3,883 shares of the semiconductor company’s stock worth $357,000 after buying an additional 114 shares during the period. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Rambus

In related news, Director Eric B. Stang sold 5,000 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $146.00, for a total transaction of $730,000.00. Following the transaction, the director owned 19,218 shares in the company, valued at $2,805,828. The trade was a 20.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Emiko Higashi sold 10,000 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $160.50, for a total transaction of $1,605,000.00. Following the completion of the sale, the director owned 49,519 shares of the company’s stock, valued at $7,947,799.50. The trade was a 16.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 62,914 shares of company stock worth $9,724,775. 0.75% of the stock is owned by insiders.

Rambus Price Performance

Shares of NASDAQ:RMBS opened at $103.19 on Friday. Rambus, Inc. has a 1 year low of $62.81 and a 1 year high of $174.10. The business’s 50-day moving average is $129.40 and its 200-day moving average is $114.41. The company has a market capitalization of $11.16 billion, a price-to-earnings ratio of 49.14 and a beta of 1.84.

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on RMBS. Wells Fargo & Company increased their price target on Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Robert W. Baird cut Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 target price on the stock. in a report on Tuesday, April 28th. Benchmark began coverage on shares of Rambus in a research report on Wednesday, July 15th. They set a “buy” rating and a $165.00 target price for the company. Evercore restated an “outperform” rating and set a $172.00 price target on shares of Rambus in a report on Tuesday, April 28th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Rambus in a research report on Friday, June 5th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $134.75.

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.