Granahan Investment Management LLC Purchases 14,730 Shares of Rambus, Inc. $RMBS

Granahan Investment Management LLC raised its holdings in shares of Rambus, Inc. (NASDAQ:RMBS) by 5.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 280,246 shares of the semiconductor company’s stock after purchasing an additional 14,730 shares during the period. Rambus accounts for approximately 1.2% of Granahan Investment Management LLC’s holdings, making the stock its 22nd biggest holding. Granahan Investment Management LLC owned about 0.26% of Rambus worth $24,110,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of RMBS. Acumen Wealth Advisors LLC bought a new stake in shares of Rambus during the fourth quarter worth approximately $25,000. Torren Management LLC bought a new position in Rambus in the fourth quarter valued at approximately $26,000. Spire Wealth Management boosted its stake in Rambus by 199.0% in the fourth quarter. Spire Wealth Management now owns 302 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 201 shares during the last quarter. University of Texas Texas AM Investment Management Co. bought a new position in Rambus in the fourth quarter valued at approximately $28,000. Finally, IFP Advisors Inc grew its holdings in Rambus by 126.7% during the 3rd quarter. IFP Advisors Inc now owns 442 shares of the semiconductor company’s stock worth $47,000 after acquiring an additional 247 shares during the period. Institutional investors own 88.54% of the company’s stock.

Rambus Stock Down 7.0%

RMBS opened at $96.01 on Friday. The stock has a market cap of $10.38 billion, a P/E ratio of 45.72 and a beta of 1.84. Rambus, Inc. has a 12 month low of $62.81 and a 12 month high of $174.10. The company has a fifty day simple moving average of $128.78 and a 200 day simple moving average of $114.28.

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

Insiders Place Their Bets

In other news, EVP Xianzhi Sean Fan sold 37,914 shares of Rambus stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $151.69, for a total transaction of $5,751,174.66. Following the transaction, the executive vice president owned 168,358 shares in the company, valued at $25,538,225.02. The trade was a 18.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Emiko Higashi sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $160.50, for a total value of $1,605,000.00. Following the completion of the transaction, the director owned 49,519 shares of the company’s stock, valued at $7,947,799.50. This represents a 16.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 62,914 shares of company stock worth $9,724,775. 0.75% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wells Fargo & Company upped their target price on shares of Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Robert W. Baird lowered Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price target on the stock. in a research report on Tuesday, April 28th. Benchmark assumed coverage on Rambus in a research note on Wednesday, July 15th. They set a “buy” rating and a $165.00 price objective for the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rambus in a report on Friday, June 5th. Finally, Evercore reissued an “outperform” rating and issued a $172.00 target price on shares of Rambus in a research note on Tuesday, April 28th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Rambus has an average rating of “Moderate Buy” and an average target price of $134.75.

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.