WCM Investment Management LLC Reduces Position in Rambus, Inc. $RMBS

WCM Investment Management LLC lessened its position in Rambus, Inc. (NASDAQ:RMBS) by 4.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 165,018 shares of the semiconductor company’s stock after selling 7,348 shares during the period. WCM Investment Management LLC owned 0.15% of Rambus worth $13,157,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Acumen Wealth Advisors LLC purchased a new position in shares of Rambus in the 4th quarter valued at approximately $25,000. Torren Management LLC bought a new stake in Rambus during the 4th quarter valued at about $26,000. Spire Wealth Management lifted its position in 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 acquiring an additional 201 shares in the last quarter. University of Texas Texas AM Investment Management Co. bought a new position in shares of Rambus during the fourth quarter valued at $28,000. Finally, IFP Advisors Inc boosted its holdings in shares of Rambus by 126.7% during the 3rd quarter. IFP Advisors Inc now owns 442 shares of the semiconductor company’s stock valued at $47,000 after acquiring an additional 247 shares during the last quarter. 88.54% of the stock is owned by hedge funds and other institutional investors.

Rambus Stock Performance

NASDAQ:RMBS opened at $100.85 on Tuesday. Rambus, Inc. has a one year low of $62.81 and a one year high of $174.10. The firm has a 50-day simple moving average of $131.05 and a 200-day simple moving average of $114.20. The firm has a market cap of $10.91 billion, a P/E ratio of 48.02 and a beta of 1.84.

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

Wall Street Analysts Forecast Growth

RMBS has been the subject of several research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rambus in a research report on Friday, June 5th. Jefferies Financial Group raised their price target on Rambus from $120.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Rosenblatt Securities lifted their price objective on shares of Rambus from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Benchmark started coverage on shares of Rambus in a research report on Wednesday, July 15th. They set a “buy” rating and a $165.00 target price on the stock. Finally, Wells Fargo & Company increased 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. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $134.75.

Insiders Place Their Bets

In related news, Director Eric B. Stang sold 5,000 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $146.00, for a total transaction of $730,000.00. Following the completion of the transaction, the director owned 19,218 shares of the company’s stock, valued at $2,805,828. This trade represents a 20.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Xianzhi Sean Fan sold 37,914 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $151.69, for a total value of $5,751,174.66. Following the sale, the executive vice president directly owned 168,358 shares in the company, valued at $25,538,225.02. This represents a 18.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 65,886 shares of company stock worth $10,171,466. Company insiders own 0.75% of the company’s stock.

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.