Alliancebernstein L.P. reduced its position in shares of Rambus Inc. (NASDAQ:RMBS) by 8.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 163,720 shares of the semiconductor company’s stock after selling 15,400 shares during the quarter. Alliancebernstein L.P.’s holdings in Rambus were worth $2,328,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Zions Bancorporation bought a new stake in shares of Rambus during the 3rd quarter worth $122,000. Magnetar Financial LLC bought a new stake in shares of Rambus during the 3rd quarter worth $145,000. Harvest Management LLC bought a new stake in shares of Rambus during the 4th quarter worth $213,000. SG Americas Securities LLC bought a new stake in shares of Rambus during the 3rd quarter worth $315,000. Finally, OxFORD Asset Management LLP acquired a new position in Rambus during the 3rd quarter valued at $534,000. 81.18% of the stock is owned by institutional investors and hedge funds.
In other news, Director Charles Kissner sold 6,347 shares of the stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $14.27, for a total value of $90,571.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Laura Stark sold 2,940 shares of the stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $14.10, for a total transaction of $41,454.00. Following the completion of the transaction, the senior vice president now owns 199,673 shares of the company’s stock, valued at approximately $2,815,389.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,925 shares of company stock valued at $335,030. Corporate insiders own 3.20% of the company’s stock.
Several research firms recently commented on RMBS. Deutsche Bank began coverage on shares of Rambus in a research note on Tuesday, March 27th. They set a “buy” rating and a $17.00 target price for the company. BidaskClub upgraded shares of Rambus from a “strong sell” rating to a “sell” rating in a research note on Friday, March 9th. ValuEngine upgraded shares of Rambus from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Zacks Investment Research cut shares of Rambus from a “hold” rating to a “sell” rating in a research note on Wednesday, January 31st. Finally, Benchmark reiterated a “buy” rating and set a $18.00 target price (up from $16.00) on shares of Rambus in a research note on Thursday, January 25th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $16.41.
NASDAQ:RMBS opened at $13.45 on Friday. The firm has a market cap of $1,514.31, a P/E ratio of 29.89, a P/E/G ratio of 2.07 and a beta of 0.48. Rambus Inc. has a one year low of $11.30 and a one year high of $15.50. The company has a quick ratio of 2.76, a current ratio of 2.80 and a debt-to-equity ratio of 0.30.
Rambus (NASDAQ:RMBS) last released its earnings results on Monday, January 29th. The semiconductor company reported $0.19 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.19. Rambus had a negative net margin of 4.70% and a positive return on equity of 9.54%. The firm had revenue of $101.89 million during the quarter, compared to analysts’ expectations of $101.25 million. During the same period in the prior year, the company earned $0.16 EPS. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. analysts forecast that Rambus Inc. will post 0.66 earnings per share for the current fiscal 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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