Rambus, Inc. (NASDAQ:RMBS) Short Interest Update

Rambus, Inc. (NASDAQ:RMBS) was the target of a significant growth in short interest in the month of February. As of February 13th, there was short interest totaling 6,447,760 shares, a growth of 35.1% from the January 29th total of 4,773,182 shares. Currently, 6.0% of the company’s stock are sold short. Based on an average daily trading volume, of 4,312,895 shares, the days-to-cover ratio is currently 1.5 days. Based on an average daily trading volume, of 4,312,895 shares, the days-to-cover ratio is currently 1.5 days. Currently, 6.0% of the company’s stock are sold short.

Analyst Ratings Changes

RMBS has been the topic of several research reports. Susquehanna dropped their target price on shares of Rambus from $100.00 to $90.00 and set a “neutral” rating on the stock in a report on Tuesday, February 3rd. Evercore dropped their price target on Rambus from $126.00 to $119.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 3rd. Zacks Research upgraded Rambus to a “hold” rating in a research report on Monday, January 26th. Rosenblatt Securities reissued a “buy” rating and issued a $130.00 target price on shares of Rambus in a report on Tuesday, February 3rd. Finally, Weiss Ratings upgraded Rambus from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Rambus has an average rating of “Buy” and an average target price of $105.71.

Rambus Trading Up 4.4%

Rambus stock traded up $3.84 during midday trading on Wednesday, hitting $91.43. The stock had a trading volume of 1,188,536 shares, compared to its average volume of 2,646,920. Rambus has a 52-week low of $40.12 and a 52-week high of $135.75. The company has a market capitalization of $9.86 billion, a PE ratio of 43.33 and a beta of 1.55. The firm’s fifty day moving average is $102.60 and its two-hundred day moving average is $97.07.

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

Insider Transactions at Rambus

In other Rambus 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 sale, the chief financial officer directly owned 63,618 shares of the company’s stock, valued at approximately $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 can be accessed through this link. Also, CEO Luc Seraphin sold 39,914 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $98.63, for a total value of $3,936,717.82. Following the completion of the sale, the chief executive officer directly owned 331,070 shares in the company, valued at approximately $32,653,434.10. This represents a 10.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RMBS. NewEdge Advisors LLC increased its stake in Rambus by 22,321.4% in the 1st 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 increased its position in Rambus by 34.1% in the first quarter. Empowered Funds LLC now owns 22,750 shares of the semiconductor company’s stock worth $1,178,000 after purchasing an additional 5,783 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Rambus by 6.6% during 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 purchasing an additional 19,120 shares in the last quarter. Acadian Asset Management LLC bought a new position in Rambus during the first quarter valued at $218,000. Finally, Nisa Investment Advisors LLC grew its stake in shares of Rambus by 8.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,243 shares of the semiconductor company’s stock worth $272,000 after buying an additional 314 shares in the last quarter. Hedge funds and other institutional investors own 88.54% 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.