EdgePoint Investment Group Inc. Has $279.56 Million Holdings in Rambus, Inc. $RMBS

EdgePoint Investment Group Inc. cut its position in Rambus, Inc. (NASDAQ:RMBS) by 3.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,682,956 shares of the semiconductor company’s stock after selling 104,371 shares during the quarter. Rambus comprises approximately 2.1% of EdgePoint Investment Group Inc.’s holdings, making the stock its 17th biggest position. EdgePoint Investment Group Inc.’s holdings in Rambus were worth $279,564,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Rambus by 1.1% during the third quarter. Vanguard Group Inc. now owns 12,701,773 shares of the semiconductor company’s stock worth $1,323,525,000 after acquiring an additional 140,948 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Rambus by 1.3% in the 2nd quarter. Geode Capital Management LLC now owns 2,687,691 shares of the semiconductor company’s stock valued at $172,086,000 after acquiring an additional 35,744 shares during the period. Invesco Ltd. grew its position in shares of Rambus by 4.7% in the 3rd quarter. Invesco Ltd. now owns 2,432,032 shares of the semiconductor company’s stock valued at $253,418,000 after acquiring an additional 109,908 shares during the period. Norges Bank acquired a new position in shares of Rambus during the 2nd quarter worth about $126,268,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Rambus by 0.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,928,697 shares of the semiconductor company’s stock worth $200,966,000 after purchasing an additional 11,024 shares during the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Rambus

In other news, CEO Luc Seraphin sold 39,914 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer owned 331,070 shares of the company’s stock, valued at approximately $32,653,434.10. This represents a 10.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Desmond Lynch sold 4,273 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer owned 63,618 shares in the company, valued at approximately $6,459,135.54. This trade represents a 6.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.00% of the stock is currently owned by corporate insiders.

Rambus Stock Performance

Shares of RMBS stock opened at $94.01 on Friday. The company has a market capitalization of $10.17 billion, a price-to-earnings ratio of 44.55 and a beta of 1.55. The company has a 50-day simple moving average of $102.06 and a 200 day simple moving average of $97.92. Rambus, Inc. has a 52 week low of $40.12 and a 52 week high of $135.75.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings results on Monday, February 2nd. The semiconductor company reported $0.68 EPS for the quarter, meeting analysts’ consensus estimates of $0.68. The business had revenue of $190.24 million for 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%. Sell-side analysts forecast that Rambus, Inc. will post 1.89 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on RMBS shares. Cfra downgraded shares of Rambus from a “hold” rating to a “moderate sell” rating in a research note on Monday, December 15th. Zacks Research raised Rambus to a “hold” rating in a research report on Monday, January 26th. Weiss Ratings lowered Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday. Evercore cut their price objective on Rambus from $126.00 to $119.00 and set an “outperform” rating for the company in a research report on Tuesday, February 3rd. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $130.00 target price on shares of Rambus in a research note on Tuesday, February 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $105.71.

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.