Comerica Bank Has $2.81 Million Stock Position in Rambus, Inc. $RMBS

Comerica Bank decreased its stake in Rambus, Inc. (NASDAQ:RMBS) by 45.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 30,625 shares of the semiconductor company’s stock after selling 25,265 shares during the quarter. Comerica Bank’s holdings in Rambus were worth $2,814,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of RMBS. Steigerwald Gordon & Koch Inc. acquired a new position in shares of Rambus in the 3rd quarter valued at $25,000. Spire Wealth Management boosted its position in shares of Rambus by 199.0% in the 4th quarter. Spire Wealth Management now owns 302 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 201 shares during the period. IFP Advisors Inc boosted its position in shares of Rambus by 126.7% in the 3rd quarter. IFP Advisors Inc now owns 442 shares of the semiconductor company’s stock valued at $47,000 after purchasing an additional 247 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Rambus in the 4th quarter valued at $50,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Rambus by 83.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 777 shares of the semiconductor company’s stock valued at $50,000 after purchasing an additional 353 shares during the period. Institutional investors and hedge funds own 88.54% of the company’s stock.

Insider Transactions at Rambus

In other news, Director Meera Rao sold 2,972 shares of the firm’s stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $150.30, for a total transaction of $446,691.60. Following the completion of the sale, the director directly owned 19,974 shares of the company’s stock, valued at $3,002,092.20. This trade represents a 12.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Desmond Lynch sold 4,273 shares of the firm’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $101.53, for a total value of $433,837.69. Following the sale, the chief financial officer directly owned 63,618 shares of the company’s stock, valued at $6,459,135.54. This trade represents a 6.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 61,123 shares of company stock valued at $6,295,577 in the last three months. Corporate insiders own 0.75% of the company’s stock.

Rambus Trading Down 0.4%

Shares of Rambus stock opened at $111.50 on Tuesday. The stock has a 50-day moving average price of $103.04 and a 200 day moving average price of $101.66. The company has a market cap of $12.06 billion, a P/E ratio of 53.10 and a beta of 1.79. Rambus, Inc. has a 1 year low of $49.29 and a 1 year high of $161.80.

Rambus (NASDAQ:RMBS) last posted its quarterly 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. Rambus had a return on equity of 17.41% and a net margin of 31.90%.The company had revenue of $180.19 million during the quarter, compared to the consensus estimate of $179.94 million. On average, equities analysts forecast that Rambus, Inc. will post 2.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RMBS has been the subject of a number of recent analyst reports. Susquehanna decreased their price target on Rambus from $100.00 to $90.00 and set a “neutral” rating for the company in a research report on Tuesday, February 3rd. Evercore reissued an “outperform” rating and issued a $172.00 price objective on shares of Rambus in a research note on Tuesday, April 28th. Rosenblatt Securities increased their price objective on Rambus from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Jefferies Financial Group increased their price objective on Rambus from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Finally, Weiss Ratings downgraded Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, March 10th. One analyst has 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. Based on data from MarketBeat, Rambus has an average rating of “Moderate Buy” and an average price target of $130.43.

Rambus Company 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.