King Luther Capital Management Corp cut its holdings in Rambus, Inc. (NASDAQ:RMBS) by 39.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,745 shares of the semiconductor company’s stock after selling 77,240 shares during the quarter. King Luther Capital Management Corp owned 0.11% of Rambus worth $1,559,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Ameritas Investment Partners Inc. boosted its stake in shares of Rambus by 9.2% in the second quarter. Ameritas Investment Partners Inc. now owns 9,734 shares of the semiconductor company’s stock valued at $111,000 after buying an additional 822 shares in the last quarter. Shelton Capital Management purchased a new stake in shares of Rambus in the second quarter valued at approximately $126,000. Trexquant Investment LP purchased a new stake in shares of Rambus in the second quarter valued at approximately $137,000. Petrus Trust Company LTA purchased a new stake in shares of Rambus in the second quarter valued at approximately $138,000. Finally, Nine Chapters Capital Management LLC purchased a new stake in shares of Rambus in the third quarter valued at approximately $158,000. Hedge funds and other institutional investors own 77.04% of the company’s stock.
In other news, SVP Laura Stark sold 4,065 shares of the business’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $12.96, for a total value of $52,682.40. Following the completion of the transaction, the senior vice president now directly owns 207,221 shares of the company’s stock, valued at $2,685,584.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ellis Thomas Fisher sold 6,437 shares of the business’s stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $13.65, for a total value of $87,865.05. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,647 shares of company stock valued at $508,104. 2.00% of the stock is currently owned by insiders.
Several equities analysts recently issued reports on the company. Loop Capital reaffirmed a “buy” rating and set a $16.00 price objective on shares of Rambus in a report on Tuesday, August 22nd. Zacks Investment Research raised Rambus from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Friday, October 27th. Citigroup lifted their price objective on Rambus from $15.30 to $15.90 and gave the stock a “buy” rating in a report on Wednesday, October 25th. J P Morgan Chase & Co cut Rambus from an “overweight” rating to a “neutral” rating and set a $15.00 price objective for the company. in a report on Friday, September 22nd. Finally, TheStreet raised Rambus from a “c+” rating to a “b-” rating in a report on Friday, October 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $15.98.
Rambus, Inc. (NASDAQ:RMBS) opened at $14.67 on Friday. The stock has a market capitalization of $1,597.27, a price-to-earnings ratio of 29.10, a P/E/G ratio of 2.77 and a beta of 0.75. Rambus, Inc. has a 1-year low of $11.30 and a 1-year high of $15.50. The company has a current ratio of 1.37, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06.
Rambus (NASDAQ:RMBS) last issued its quarterly earnings data on Monday, October 23rd. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.02. The firm had revenue of $99.10 million during the quarter, compared to analysts’ expectations of $99.00 million. Rambus had a return on equity of 9.79% and a net margin of 2.54%. Rambus’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.16 earnings per share. analysts predict that Rambus, Inc. will post 0.52 EPS for the current year.
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Rambus Inc (Rambus) produces hardware and software technologies. The Company’s segments include Memory and Interface Division (MID), which focuses the design, development, manufacturing through partnerships and licensing of technology and solutions that is related to memory and interfaces; Rambus Security Division (RSD), which focuses on the design, development and licensing of technologies for chip and system security, anti-counterfeiting, smart ticketing and mobile payments; Emerging Solutions Division (ESD), which encompasses its long-term research and development efforts in the area of emerging technologies, and Rambus Lighting Division (RLD), which focuses on the design, development and licensing of technologies for lighting.
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