Rambus, Inc. (RMBS) Shares Sold by Comerica Bank
Comerica Bank cut its stake in Rambus, Inc. (NASDAQ:RMBS) by 4.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 117,151 shares of the semiconductor company’s stock after selling 6,010 shares during the period. Comerica Bank owned approximately 0.11% of Rambus worth $1,481,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Ameritas Investment Partners Inc. purchased a new position in Rambus in the first quarter valued at about $117,000. Neuberger Berman Group LLC increased its holdings in Rambus by 1.3% in the first quarter. Neuberger Berman Group LLC now owns 3,625,211 shares of the semiconductor company’s stock valued at $47,635,000 after buying an additional 46,970 shares in the last quarter. BlackRock Inc. increased its holdings in Rambus by 17,759.2% in the first quarter. BlackRock Inc. now owns 14,458,840 shares of the semiconductor company’s stock valued at $189,990,000 after buying an additional 14,377,880 shares in the last quarter. Aperio Group LLC increased its holdings in Rambus by 27.9% in the second quarter. Aperio Group LLC now owns 34,028 shares of the semiconductor company’s stock valued at $389,000 after buying an additional 7,419 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Rambus by 5.2% in the first quarter. Dimensional Fund Advisors LP now owns 4,349,719 shares of the semiconductor company’s stock valued at $57,155,000 after buying an additional 216,124 shares in the last quarter. 76.47% of the stock is owned by institutional investors.
RMBS has been the subject of a number of research analyst reports. Loop Capital reaffirmed a “buy” rating and issued a $16.00 target price on shares of Rambus in a report on Tuesday, August 22nd. BidaskClub raised shares of Rambus from a “strong sell” rating to a “sell” rating in a report on Saturday, July 8th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $14.00 target price (up from $13.50) on shares of Rambus in a report on Tuesday, July 25th. Zacks Investment Research cut shares of Rambus from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Finally, TheStreet cut shares of Rambus from a “b-” rating to a “c+” rating in a report on Friday, June 16th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $14.63.
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Rambus, Inc. (NASDAQ:RMBS) opened at 13.16 on Thursday. The stock’s 50 day moving average is $12.86 and its 200-day moving average is $12.57. Rambus, Inc. has a 52 week low of $11.30 and a 52 week high of $14.39. The stock has a market capitalization of $1.44 billion, a PE ratio of 219.33 and a beta of 0.91.
Rambus (NASDAQ:RMBS) last issued its quarterly earnings results on Monday, July 24th. The semiconductor company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The company had revenue of $94.70 million during the quarter, compared to analyst estimates of $93.00 million. Rambus had a net margin of 1.76% and a return on equity of 9.28%. The business’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.15 EPS. Equities research analysts forecast that Rambus, Inc. will post $0.65 EPS for the current year.
In other news, Director David A. Shrigley sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $12.98, for a total value of $64,900.00. Following the completion of the sale, the director now directly owns 46,253 shares of the company’s stock, valued at approximately $600,363.94. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jae Kim sold 42,449 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $12.71, for a total transaction of $539,526.79. Following the completion of the sale, the senior vice president now directly owns 120,126 shares of the company’s stock, valued at $1,526,801.46. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,348 shares of company stock valued at $769,258. Company insiders own 2.00% of the company’s stock.
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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