Thornburg Investment Management Inc. Sells 18,157 Shares of Rambus, Inc. $RMBS

Thornburg Investment Management Inc. lessened its holdings in shares of Rambus, Inc. (NASDAQ:RMBS) by 20.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 68,591 shares of the semiconductor company’s stock after selling 18,157 shares during the period. Thornburg Investment Management Inc.’s holdings in Rambus were worth $7,147,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the business. NewEdge Advisors LLC grew its stake in shares of Rambus by 22,321.4% in the first quarter. NewEdge Advisors LLC now owns 9,417 shares of the semiconductor company’s stock worth $488,000 after acquiring an additional 9,375 shares during the last quarter. Empowered Funds LLC raised its position in shares of Rambus by 34.1% during the first quarter. Empowered Funds LLC now owns 22,750 shares of the semiconductor company’s stock valued at $1,178,000 after buying an additional 5,783 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Rambus by 6.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 309,512 shares of the semiconductor company’s stock valued at $16,025,000 after buying an additional 19,120 shares during the period. Acadian Asset Management LLC bought a new position in Rambus during the first quarter valued at about $218,000. Finally, Ethic Inc. bought a new stake in shares of Rambus in the 2nd quarter worth approximately $258,000. 88.54% of the stock is owned by institutional investors.

Rambus Trading Up 2.6%

NASDAQ:RMBS opened at $101.09 on Thursday. The stock has a market capitalization of $10.90 billion, a P/E ratio of 47.91 and a beta of 1.53. Rambus, Inc. has a 1 year low of $40.12 and a 1 year high of $135.75. The firm has a 50 day moving average of $102.38 and a 200-day moving average of $96.30.

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

Insider Transactions at Rambus

In related news, CFO Desmond Lynch sold 4,273 shares of the company’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $101.53, for a total transaction of $433,837.69. Following the transaction, the chief financial officer owned 63,618 shares in the company, valued at $6,459,135.54. This represents a 6.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on RMBS shares. Rosenblatt Securities restated a “buy” rating and set a $130.00 price objective on shares of Rambus in a research report on Tuesday, February 3rd. William Blair started coverage on shares of Rambus in a research note on Thursday, January 22nd. They issued an “outperform” rating for the company. Cfra lowered shares of Rambus from a “hold” rating to a “moderate sell” rating in a research report on Monday, December 15th. Weiss Ratings raised shares of Rambus from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. Finally, Evercore lowered their price objective on Rambus from $126.00 to $119.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 3rd. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $105.71.

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.