Granahan Investment Management LLC Has $24.85 Million Stock Position in Rambus, Inc. $RMBS

Granahan Investment Management LLC increased its holdings in shares of Rambus, Inc. (NASDAQ:RMBS) by 83.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 238,443 shares of the semiconductor company’s stock after buying an additional 108,362 shares during the quarter. Granahan Investment Management LLC owned 0.22% of Rambus worth $24,846,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of RMBS. Steigerwald Gordon & Koch Inc. bought a new position in Rambus in the third quarter valued at about $25,000. Abound Wealth Management bought a new position in shares of Rambus in the third quarter worth about $28,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Rambus by 83.3% in the second quarter. EverSource Wealth Advisors LLC now owns 777 shares of the semiconductor company’s stock worth $50,000 after acquiring an additional 353 shares during the last quarter. CI Investments Inc. boosted its stake in shares of Rambus by 39.5% in the 3rd quarter. CI Investments Inc. now owns 661 shares of the semiconductor company’s stock valued at $69,000 after purchasing an additional 187 shares in the last quarter. Finally, Covestor Ltd grew its holdings in shares of Rambus by 46.4% during the 3rd quarter. Covestor Ltd now owns 675 shares of the semiconductor company’s stock valued at $70,000 after purchasing an additional 214 shares during the last quarter. 88.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RMBS has been the subject of a number of research analyst reports. Rosenblatt Securities reiterated a “buy” rating and set a $130.00 price objective on shares of Rambus in a research report on Tuesday, February 3rd. Evercore cut their target price on shares of Rambus from $126.00 to $119.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 3rd. Weiss Ratings cut shares of Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, March 10th. William Blair began coverage on shares of Rambus in a report on Thursday, January 22nd. They set an “outperform” rating for the company. Finally, Susquehanna dropped their price target on Rambus from $100.00 to $90.00 and set a “neutral” rating for the company in a research note on Tuesday, February 3rd. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $105.71.

Rambus Price Performance

Shares of NASDAQ RMBS opened at $94.01 on Monday. The company has a 50 day simple moving average of $102.06 and a 200 day simple moving average of $98.08. The firm has a market cap of $10.17 billion, a PE ratio of 44.55 and a beta of 1.55. Rambus, Inc. has a 1 year low of $40.12 and a 1 year high of $135.75.

Rambus (NASDAQ:RMBS) last posted its earnings results on Monday, February 2nd. The semiconductor company reported $0.68 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.68. Rambus had a net margin of 32.57% and a return on equity of 17.69%. The firm had revenue of $190.24 million for the quarter, compared to analyst estimates of $188.21 million. As a group, research analysts anticipate that Rambus, Inc. will post 1.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Luc Seraphin sold 39,914 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $98.63, for a total value of $3,936,717.82. Following the completion of the sale, the chief executive officer directly owned 331,070 shares in the company, valued at $32,653,434.10. This represents a 10.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Desmond Lynch sold 4,273 shares of the firm’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $101.53, for a total value of $433,837.69. Following the transaction, the chief financial officer directly owned 63,618 shares of the company’s stock, valued at approximately $6,459,135.54. This represents a 6.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.75% of the stock is currently owned by insiders.

About Rambus

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.