Westfield Capital Management Co. LP Decreases Stock Position in Rambus, Inc. $RMBS

Westfield Capital Management Co. LP trimmed its position in shares of Rambus, Inc. (NASDAQ:RMBS) by 49.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 484,465 shares of the semiconductor company’s stock after selling 477,954 shares during the quarter. Westfield Capital Management Co. LP owned approximately 0.45% of Rambus worth $50,481,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its stake in Rambus by 19.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,045 shares of the semiconductor company’s stock worth $109,000 after purchasing an additional 167 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Rambus by 2.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 9,363 shares of the semiconductor company’s stock worth $907,000 after buying an additional 187 shares in the last quarter. Campbell Newman Asset Management Inc. boosted its position in Rambus by 0.5% during the third quarter. Campbell Newman Asset Management Inc. now owns 41,851 shares of the semiconductor company’s stock worth $4,361,000 after acquiring an additional 188 shares during the last quarter. KLP Kapitalforvaltning AS grew its stake in Rambus by 0.9% during the 3rd quarter. KLP Kapitalforvaltning AS now owns 22,400 shares of the semiconductor company’s stock valued at $2,334,000 after acquiring an additional 200 shares in the last quarter. Finally, Norden Group LLC grew its stake in Rambus by 2.8% during the 3rd quarter. Norden Group LLC now owns 7,655 shares of the semiconductor company’s stock valued at $798,000 after acquiring an additional 208 shares in the last quarter. 88.54% of the stock is owned by institutional investors and hedge funds.

Rambus Stock Performance

Rambus stock opened at $102.17 on Friday. The company’s 50 day simple moving average is $102.59 and its 200-day simple moving average is $96.34. The company has a market capitalization of $11.01 billion, a price-to-earnings ratio of 48.42 and a beta of 1.53. Rambus, Inc. has a 1 year low of $40.12 and a 1 year high of $135.75.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings data on Monday, February 2nd. The semiconductor company reported $0.68 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.68. Rambus had a net margin of 32.57% and a return on equity of 17.69%. The firm had revenue of $190.24 million during the quarter, compared to analysts’ expectations of $188.21 million. Equities analysts expect that Rambus, Inc. will post 1.89 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. William Blair initiated coverage on shares of Rambus in a research note on Thursday, January 22nd. They issued an “outperform” rating on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $130.00 price objective on shares of Rambus in a research report on Tuesday, February 3rd. Zacks Research upgraded Rambus to a “hold” rating in a report on Monday, January 26th. Weiss Ratings raised Rambus from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. Finally, Cfra cut shares of Rambus from a “hold” rating to a “moderate sell” rating in a research report on Monday, December 15th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $105.71.

Insider Activity at Rambus

In other news, CFO Desmond Lynch sold 4,273 shares of Rambus stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $101.53, for a total value of $433,837.69. Following the completion of the sale, the chief financial officer directly owned 63,618 shares of the company’s stock, valued at approximately $6,459,135.54. The trade was a 6.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

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.