Penn Capital Management Company LLC Sells 135,120 Shares of Rambus, Inc. $RMBS

Penn Capital Management Company LLC lessened its stake in shares of Rambus, Inc. (NASDAQ:RMBS) by 89.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,705 shares of the semiconductor company’s stock after selling 135,120 shares during the period. Penn Capital Management Company LLC’s holdings in Rambus were worth $1,560,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Fisher Asset Management LLC lifted its position in shares of Rambus by 238.4% during the 4th quarter. Fisher Asset Management LLC now owns 517,278 shares of the semiconductor company’s stock valued at $47,533,000 after acquiring an additional 364,396 shares during the period. Clearstead Advisors LLC lifted its position in shares of Rambus by 26.1% during the 4th quarter. Clearstead Advisors LLC now owns 3,168 shares of the semiconductor company’s stock valued at $291,000 after acquiring an additional 656 shares during the period. New Age Alpha Advisors LLC acquired a new position in shares of Rambus during the 4th quarter valued at $2,634,000. Hantz Financial Services Inc. lifted its position in shares of Rambus by 87.5% during the 4th quarter. Hantz Financial Services Inc. now owns 2,765 shares of the semiconductor company’s stock valued at $254,000 after acquiring an additional 1,290 shares during the period. Finally, William Blair Investment Management LLC raised its holdings in Rambus by 8.7% during the fourth quarter. William Blair Investment Management LLC now owns 316,397 shares of the semiconductor company’s stock worth $29,074,000 after buying an additional 25,215 shares during the last quarter. Institutional investors and hedge funds own 88.54% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on RMBS shares. Jefferies Financial Group upped their price objective on shares of Rambus from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Evercore restated an “outperform” rating and set a $172.00 price objective on shares of Rambus in a report on Tuesday, April 28th. Weiss Ratings downgraded shares of Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, March 10th. Susquehanna lowered their price objective on shares of Rambus from $100.00 to $90.00 and set a “neutral” rating on the stock in a report on Tuesday, February 3rd. Finally, Robert W. Baird downgraded shares of Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price objective on the stock. in a report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Rambus currently has a consensus rating of “Moderate Buy” and a consensus price target of $130.43.

Rambus Stock Performance

RMBS opened at $148.66 on Thursday. The firm has a market cap of $16.08 billion, a P/E ratio of 70.79 and a beta of 1.79. The firm has a 50-day moving average of $116.42 and a 200 day moving average of $105.36. Rambus, Inc. has a fifty-two week low of $52.12 and a fifty-two week high of $161.80.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings results on Monday, April 27th. The semiconductor company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.02. The company had revenue of $180.19 million during the quarter, compared to analyst estimates of $179.94 million. Rambus had a net margin of 31.90% and a return on equity of 17.41%. Equities research analysts predict that Rambus, Inc. will post 2.44 earnings per share for the current fiscal year.

Insider Activity at Rambus

In related news, Director Meera Rao sold 8,538 shares of the stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $118.08, for a total transaction of $1,008,167.04. Following the completion of the transaction, the director owned 22,946 shares in the company, valued at approximately $2,709,463.68. This represents a 27.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Emiko Higashi sold 5,000 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $157.57, for a total transaction of $787,850.00. Following the transaction, the director owned 59,519 shares of the company’s stock, valued at approximately $9,378,408.83. The trade was a 7.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 99,764 shares of company stock worth $12,400,764 in the last ninety days. Corporate insiders own 0.75% of the company’s stock.

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.