Lazard Asset Management LLC Has $8.75 Million Stake in Rambus, Inc. $RMBS

Lazard Asset Management LLC reduced its stake in shares of Rambus, Inc. (NASDAQ:RMBS) by 65.9% in the 1st quarter, Holdings Channel reports. The firm owned 101,701 shares of the semiconductor company’s stock after selling 196,169 shares during the quarter. Lazard Asset Management LLC’s holdings in Rambus were worth $8,749,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. M&T Bank Corp grew its position in Rambus by 2,372.0% during the 4th quarter. M&T Bank Corp now owns 122,636 shares of the semiconductor company’s stock worth $11,269,000 after purchasing an additional 117,675 shares during the last quarter. AMJ Financial Wealth Management raised its holdings in shares of Rambus by 252.0% in the fourth quarter. AMJ Financial Wealth Management now owns 94,946 shares of the semiconductor company’s stock valued at $8,725,000 after buying an additional 67,973 shares during the last quarter. Novem Group purchased a new stake in shares of Rambus in the fourth quarter valued at about $885,000. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of Rambus by 162.6% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 137,692 shares of the semiconductor company’s stock worth $12,721,000 after buying an additional 85,257 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Rambus by 21.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 157,148 shares of the semiconductor company’s stock worth $14,440,000 after buying an additional 27,472 shares during the period. 88.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RMBS has been the topic of several recent research reports. Weiss Ratings restated a “hold (c+)” rating on shares of Rambus in a research report on Friday, June 5th. Wells Fargo & Company increased their price objective on Rambus from $115.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Rosenblatt Securities reiterated a “buy” rating and issued a $165.00 target price on shares of Rambus in a research note on Tuesday. Glj Research set a $165.00 target price on Rambus in a report on Tuesday. Finally, Robert W. Baird cut Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price target for the company. in a research note on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $139.78.

Insiders Place Their Bets

In other news, Director Eric B. Stang sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $146.00, for a total value of $730,000.00. Following the completion of the sale, the director directly owned 19,218 shares of the company’s stock, valued at $2,805,828. This trade represents a 20.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Necip Sayiner sold 5,000 shares of Rambus stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $170.15, for a total value of $850,750.00. Following the completion of the sale, the director owned 18,223 shares in the company, valued at approximately $3,100,643.45. This trade represents a 21.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 62,914 shares of company stock valued at $9,724,775. Corporate insiders own 0.75% of the company’s stock.

Rambus Stock Performance

RMBS stock opened at $89.58 on Friday. The stock has a market capitalization of $9.72 billion, a PE ratio of 41.09 and a beta of 1.84. The company has a fifty day moving average of $125.48 and a 200-day moving average of $114.28. Rambus, Inc. has a one year low of $67.15 and a one year high of $174.10.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings data on Monday, April 27th. The semiconductor company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. Rambus had a return on equity of 17.89% and a net margin of 31.69%.The company had revenue of $180.19 million for the quarter, compared to analyst estimates of $179.94 million. Equities analysts forecast that Rambus, Inc. will post 2.44 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.