Rambus, Inc. (NASDAQ:RMBS) Short Interest Up 35.1% in February

Rambus, Inc. (NASDAQ:RMBS) saw a large increase in short interest in the month of February. As of February 13th, there was short interest totaling 6,447,760 shares, an increase of 35.1% from the January 29th total of 4,773,182 shares. Currently, 6.0% of the company’s shares are short sold. Based on an average daily volume of 4,312,895 shares, the days-to-cover ratio is presently 1.5 days. Based on an average daily volume of 4,312,895 shares, the days-to-cover ratio is presently 1.5 days. Currently, 6.0% of the company’s shares are short sold.

Rambus Trading Down 11.4%

NASDAQ RMBS traded down $11.29 during trading hours on Tuesday, reaching $87.59. 2,852,342 shares of the company traded hands, compared to its average volume of 2,641,722. The stock has a market capitalization of $9.44 billion, a PE ratio of 41.51 and a beta of 1.55. The company has a 50 day moving average of $102.60 and a two-hundred day moving average of $97.07. Rambus has a 12 month low of $40.12 and a 12 month high of $135.75.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings results on Monday, February 2nd. The semiconductor company reported $0.68 EPS for the quarter, hitting the consensus estimate of $0.68. The business had revenue of $190.24 million for the quarter, compared to analysts’ expectations of $188.21 million. Rambus had a net margin of 32.57% and a return on equity of 17.69%. On average, equities research analysts anticipate that Rambus will post 1.89 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on RMBS shares. Rosenblatt Securities reiterated a “buy” rating and set a $130.00 target price on shares of Rambus in a report on Tuesday, February 3rd. Weiss Ratings raised shares of Rambus from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. William Blair began coverage on shares of Rambus in a research note on Thursday, January 22nd. They issued an “outperform” rating for the company. Evercore lowered their price target on shares of Rambus from $126.00 to $119.00 and set an “outperform” rating for the company in a report on Tuesday, February 3rd. Finally, Cfra downgraded shares of Rambus from a “hold” rating to a “moderate sell” rating in a research note on Monday, December 15th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $105.71.

Insider Activity

In other news, CEO Luc Seraphin sold 39,914 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $98.63, for a total transaction of $3,936,717.82. Following the completion of the sale, the chief executive officer owned 331,070 shares in the company, valued at approximately $32,653,434.10. The trade was a 10.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Desmond Lynch sold 4,273 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $101.53, for a total transaction of $433,837.69. Following the completion of the transaction, the chief financial officer owned 63,618 shares in the company, valued at $6,459,135.54. The trade was a 6.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Rambus

Several institutional investors and hedge funds have recently made changes to their positions in RMBS. Vanguard Group Inc. boosted its holdings in Rambus by 1.1% in the third quarter. Vanguard Group Inc. now owns 12,701,773 shares of the semiconductor company’s stock worth $1,323,525,000 after purchasing an additional 140,948 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Rambus by 2.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,385,570 shares of the semiconductor company’s stock worth $494,881,000 after buying an additional 140,226 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Rambus by 70.6% in the 4th quarter. Invesco Ltd. now owns 4,148,653 shares of the semiconductor company’s stock valued at $381,220,000 after buying an additional 1,716,621 shares during the period. Geode Capital Management LLC grew its position in shares of Rambus by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 2,842,715 shares of the semiconductor company’s stock valued at $261,256,000 after buying an additional 94,214 shares during the last quarter. Finally, EdgePoint Investment Group Inc. raised its stake in Rambus by 138.4% during the second quarter. EdgePoint Investment Group Inc. now owns 2,787,327 shares of the semiconductor company’s stock worth $178,445,000 after acquiring an additional 1,618,133 shares during the period. 88.54% of the stock is owned by institutional investors and hedge funds.

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.