The Manufacturers Life Insurance Company Trims Position in Rambus, Inc. $RMBS

The Manufacturers Life Insurance Company lessened its holdings in shares of Rambus, Inc. (NASDAQ:RMBS) by 10.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 102,403 shares of the semiconductor company’s stock after selling 11,585 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Rambus were worth $8,810,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Invesco Ltd. increased its position in Rambus by 70.6% during the 4th quarter. Invesco Ltd. now owns 4,148,653 shares of the semiconductor company’s stock valued at $381,220,000 after purchasing an additional 1,716,621 shares during the period. Norges Bank purchased a new stake in shares of Rambus in the 4th quarter worth about $156,356,000. Bank of America Corp DE lifted its position in shares of Rambus by 196.0% in the 3rd quarter. Bank of America Corp DE now owns 1,550,665 shares of the semiconductor company’s stock worth $161,579,000 after purchasing an additional 1,026,776 shares during the period. Bessemer Group Inc. boosted its stake in shares of Rambus by 1,009.5% during the 1st quarter. Bessemer Group Inc. now owns 1,039,905 shares of the semiconductor company’s stock valued at $89,463,000 after purchasing an additional 946,177 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of Rambus by 192.8% during the 2nd quarter. AQR Capital Management LLC now owns 701,746 shares of the semiconductor company’s stock valued at $44,926,000 after purchasing an additional 462,116 shares in the last quarter. Institutional investors own 88.54% of the company’s stock.

Analyst Upgrades and Downgrades

RMBS has been the subject of a number of research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Rambus in a research note on Friday, June 5th. Jefferies Financial Group upped their target price on Rambus from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Glj Research set a $165.00 target price on Rambus in a research report on Tuesday, July 28th. Benchmark restated a “buy” rating on shares of Rambus in a research note on Tuesday, July 28th. Finally, Wells Fargo & Company lifted their price target on Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Rambus has a consensus rating of “Moderate Buy” and a consensus price target of $139.78.

Rambus Stock Performance

RMBS stock opened at $100.55 on Wednesday. The firm has a 50 day moving average price of $122.30 and a 200-day moving average price of $114.25. Rambus, Inc. has a 52-week low of $67.15 and a 52-week high of $174.10. The firm has a market capitalization of $10.91 billion, a price-to-earnings ratio of 46.12 and a beta of 1.88.

Insider Buying and Selling

In other news, Director Eric B. Stang sold 5,000 shares of the stock in a transaction 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 sale, the director directly owned 19,218 shares of the company’s stock, valued at approximately $2,805,828. This represents a 20.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Xianzhi Sean Fan sold 37,914 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $151.69, for a total value of $5,751,174.66. Following the completion of the sale, the executive vice president directly owned 168,358 shares in the company, valued at approximately $25,538,225.02. This represents a 18.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 62,914 shares of company stock worth $9,724,775 in the last 90 days. Corporate insiders own 0.75% of the company’s stock.

Rambus 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.