Nordea Investment Management AB Trims Stock Position in Rambus, Inc. $RMBS

Nordea Investment Management AB cut its holdings in Rambus, Inc. (NASDAQ:RMBS) by 13.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 120,976 shares of the semiconductor company’s stock after selling 18,454 shares during the quarter. Nordea Investment Management AB owned approximately 0.11% of Rambus worth $11,200,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of RMBS. NewEdge Advisors LLC lifted 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 valued at $488,000 after buying an additional 9,375 shares in the last quarter. Empowered Funds LLC increased its position in Rambus by 34.1% during the first quarter. Empowered Funds LLC now owns 22,750 shares of the semiconductor company’s stock worth $1,178,000 after buying an additional 5,783 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings 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 worth $16,025,000 after acquiring an additional 19,120 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Rambus in the first quarter worth $218,000. Finally, Cetera Investment Advisers lifted its position in shares of Rambus by 15.1% in the second quarter. Cetera Investment Advisers now owns 31,667 shares of the semiconductor company’s stock valued at $2,027,000 after acquiring an additional 4,160 shares in the last quarter. 88.54% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Rambus news, CFO Desmond Lynch sold 4,273 shares of the stock in a transaction that occurred on 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 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Luc Seraphin sold 39,914 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $98.63, for a total transaction of $3,936,717.82. Following the sale, the chief executive officer directly owned 331,070 shares of the company’s stock, valued at $32,653,434.10. This represents a 10.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.75% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on RMBS shares. Cfra lowered Rambus from a “hold” rating to a “moderate sell” rating in a research note on Monday, December 15th. Susquehanna reduced 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. Weiss Ratings cut shares of Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, March 10th. Evercore lowered their price target on shares of Rambus from $126.00 to $119.00 and set an “outperform” rating for the company in a report on Tuesday, February 3rd. Finally, Zacks Research raised shares of Rambus to a “hold” rating in a research report on Monday, January 26th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $105.71.

Rambus Stock Up 3.5%

Shares of NASDAQ:RMBS opened at $95.93 on Thursday. The company has a market cap of $10.38 billion, a P/E ratio of 45.46 and a beta of 1.55. The business has a fifty day simple moving average of $101.81 and a 200-day simple moving average of $98.94. Rambus, Inc. has a 52 week low of $40.12 and a 52 week high of $135.75.

Rambus (NASDAQ:RMBS) last released its earnings results on Monday, February 2nd. The semiconductor company reported $0.68 earnings per share for the quarter, hitting the consensus estimate of $0.68. The firm had revenue of $190.24 million for the quarter, compared to the consensus estimate of $188.21 million. Rambus had a return on equity of 17.69% and a net margin of 32.57%. Sell-side analysts expect that Rambus, Inc. will post 1.89 earnings per share for the current fiscal year.

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.