Westfield Capital Management Co. LP Lowers Holdings in Rambus, Inc. $RMBS

Westfield Capital Management Co. LP reduced its holdings in shares of Rambus, Inc. (NASDAQ:RMBS) by 49.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 484,465 shares of the semiconductor company’s stock after selling 477,954 shares during the period. Westfield Capital Management Co. LP’s holdings in Rambus were worth $50,481,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RMBS. TD Asset Management Inc raised its holdings in Rambus by 463.6% during the third quarter. TD Asset Management Inc now owns 25,306 shares of the semiconductor company’s stock worth $2,637,000 after purchasing an additional 20,816 shares in the last quarter. Chase Investment Counsel Corp acquired a new stake in Rambus during the 3rd quarter worth $205,000. EverSource Wealth Advisors LLC lifted its position in Rambus by 145.0% in the third quarter. EverSource Wealth Advisors LLC now owns 1,904 shares of the semiconductor company’s stock valued at $198,000 after acquiring an additional 1,127 shares during the last quarter. Vestmark Advisory Solutions Inc. acquired a new position in Rambus in the third quarter valued at $211,000. Finally, Aurora Investment Counsel boosted its stake in Rambus by 1.2% in the third quarter. Aurora Investment Counsel now owns 23,598 shares of the semiconductor company’s stock valued at $2,459,000 after acquiring an additional 287 shares in the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Trading Up 1.1%

Shares of RMBS opened at $102.17 on Friday. Rambus, Inc. has a 12-month low of $40.12 and a 12-month high of $135.75. The stock has a market cap of $11.01 billion, a P/E ratio of 48.42 and a beta of 1.53. The company has a 50-day moving average of $102.59 and a two-hundred day moving average of $96.34.

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

Analysts Set New Price Targets

A number of research firms have recently commented on RMBS. Evercore cut their target price on Rambus from $126.00 to $119.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 3rd. Zacks Research raised Rambus to a “hold” rating in a research report on Monday, January 26th. William Blair began coverage on shares of Rambus in a research report on Thursday, January 22nd. They set an “outperform” rating on the stock. Susquehanna dropped their target price on shares of Rambus from $100.00 to $90.00 and set a “neutral” rating for the company in a report on Tuesday, February 3rd. Finally, Rosenblatt Securities reissued a “buy” rating and set a $130.00 price target on shares of Rambus in a research note on Tuesday, February 3rd. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $105.71.

Insiders Place Their Bets

In other news, CFO Desmond Lynch sold 4,273 shares of the business’s 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 transaction, the chief financial officer directly owned 63,618 shares of the company’s stock, valued at $6,459,135.54. The trade was a 6.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.00% of the company’s stock.

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.