Rambus, Inc. $RMBS Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC cut its holdings in shares of Rambus, Inc. (NASDAQ:RMBS) by 9.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 110,607 shares of the semiconductor company’s stock after selling 11,955 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Rambus were worth $9,516,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. M&T Bank Corp lifted its position in Rambus by 2,372.0% during the fourth quarter. M&T Bank Corp now owns 122,636 shares of the semiconductor company’s stock valued at $11,269,000 after purchasing an additional 117,675 shares during the period. AMJ Financial Wealth Management grew its position in Rambus by 252.0% during the 4th quarter. AMJ Financial Wealth Management now owns 94,946 shares of the semiconductor company’s stock worth $8,725,000 after purchasing an additional 67,973 shares during the period. TD Asset Management Inc grew its position in Rambus by 463.6% during the 3rd 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 during the period. Barclays PLC raised its stake in shares of Rambus by 183.1% during the 3rd quarter. Barclays PLC now owns 894,906 shares of the semiconductor company’s stock valued at $93,249,000 after buying an additional 578,839 shares during the last quarter. Finally, Fisher Asset Management LLC purchased a new position in shares of Rambus during the 3rd quarter valued at about $15,930,000. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on RMBS. Weiss Ratings restated a “hold (c+)” rating on shares of Rambus in a research note on Friday, June 5th. Rosenblatt Securities lifted their price target on Rambus from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Wells Fargo & Company boosted their price target on Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. Evercore restated an “outperform” rating and issued a $172.00 price objective on shares of Rambus in a research report on Tuesday, April 28th. Finally, Robert W. Baird cut shares of Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price objective on the stock. in a research note on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Rambus has a consensus rating of “Moderate Buy” and a consensus price target of $130.43.

Rambus Stock Down 8.8%

RMBS stock opened at $112.92 on Friday. The company’s 50-day simple moving average is $136.32 and its 200-day simple moving average is $113.11. Rambus, Inc. has a 52-week low of $61.16 and a 52-week high of $174.10. The firm has a market cap of $12.21 billion, a P/E ratio of 53.77 and a beta of 1.84.

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

Insider Buying and Selling

In other Rambus news, Director Emiko Higashi sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $160.50, for a total value of $1,605,000.00. Following the sale, the director directly owned 49,519 shares of the company’s stock, valued at approximately $7,947,799.50. This trade represents a 16.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Necip Sayiner sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $170.15, for a total value of $850,750.00. Following the completion of the sale, the director owned 18,223 shares of the company’s stock, valued at $3,100,643.45. This trade represents a 21.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 74,424 shares of company stock valued at $11,179,633 in the last 90 days. Corporate insiders own 0.75% of the company’s stock.

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.