ProShare Advisors LLC Sells 6,742 Shares of Rambus, Inc. $RMBS

ProShare Advisors LLC trimmed its position in Rambus, Inc. (NASDAQ:RMBS) by 17.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 32,958 shares of the semiconductor company’s stock after selling 6,742 shares during the quarter. ProShare Advisors LLC’s holdings in Rambus were worth $3,434,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its holdings in Rambus by 22,321.4% during the first quarter. NewEdge Advisors LLC now owns 9,417 shares of the semiconductor company’s stock valued at $488,000 after purchasing an additional 9,375 shares in the last quarter. Empowered Funds LLC increased its stake in shares of Rambus by 34.1% in the first quarter. Empowered Funds LLC now owns 22,750 shares of the semiconductor company’s stock worth $1,178,000 after purchasing an additional 5,783 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Rambus by 6.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 309,512 shares of the semiconductor company’s stock valued at $16,025,000 after purchasing an additional 19,120 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Rambus during the 1st quarter valued at $218,000. Finally, US Bancorp DE lifted its stake in shares of Rambus by 55.7% during the 2nd quarter. US Bancorp DE now owns 13,482 shares of the semiconductor company’s stock valued at $863,000 after buying an additional 4,821 shares in the last quarter. Institutional investors own 88.54% of the company’s stock.

Rambus Price Performance

NASDAQ:RMBS opened at $101.95 on Friday. The company has a market cap of $10.97 billion, a price-to-earnings ratio of 48.32 and a beta of 1.53. Rambus, Inc. has a 1 year low of $40.12 and a 1 year high of $135.75. The stock’s 50 day simple moving average is $102.11 and its two-hundred day simple moving average is $94.60.

Rambus (NASDAQ:RMBS) last posted its earnings results on Monday, February 2nd. The semiconductor company reported $0.68 EPS for the quarter, meeting analysts’ consensus estimates of $0.68. Rambus had a return on equity of 17.69% and a net margin of 32.57%.The firm had revenue of $190.24 million during the quarter, compared to the consensus estimate of $188.21 million. As a group, analysts anticipate that Rambus, Inc. will post 1.89 EPS for the current year.

Analysts Set New Price Targets

RMBS has been the subject of a number of analyst reports. Weiss Ratings lowered Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. Susquehanna dropped their price objective on Rambus from $100.00 to $90.00 and set a “neutral” rating for the company in a research note on Tuesday, February 3rd. Evercore cut their target price on Rambus from $126.00 to $119.00 and set an “outperform” rating for the company in a research report on Tuesday, February 3rd. Wells Fargo & Company boosted their price target on Rambus from $73.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. Finally, Cfra downgraded Rambus from a “hold” rating to a “moderate sell” rating in a research note on Monday, December 15th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three 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 an average price target of $105.71.

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.