Principal Financial Group Inc. Sells 38,183 Shares of Rambus, Inc. $RMBS

Principal Financial Group Inc. reduced its position in shares of Rambus, Inc. (NASDAQ:RMBS) by 9.3% in the first quarter, HoldingsChannel.com reports. The firm owned 373,536 shares of the semiconductor company’s stock after selling 38,183 shares during the period. Principal Financial Group Inc.’s holdings in Rambus were worth $32,135,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of RMBS. Krilogy Financial LLC raised its position in Rambus by 3.8% during the 1st quarter. Krilogy Financial LLC now owns 2,238 shares of the semiconductor company’s stock valued at $193,000 after purchasing an additional 81 shares during the last quarter. Oak Grove Capital LLC grew its position in shares of Rambus by 1.3% in the 4th quarter. Oak Grove Capital LLC now owns 7,600 shares of the semiconductor company’s stock worth $698,000 after buying an additional 100 shares during the last quarter. Northwestern Mutual Investment Management Company LLC grew its position in shares of Rambus by 0.4% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 24,085 shares of the semiconductor company’s stock worth $2,213,000 after buying an additional 103 shares during the last quarter. Ashton Thomas Private Wealth LLC increased its stake in shares of Rambus by 3.3% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,445 shares of the semiconductor company’s stock valued at $317,000 after buying an additional 110 shares during the period. Finally, Meeder Advisory Services Inc. increased its stake in shares of Rambus by 3.0% during the fourth quarter. Meeder Advisory Services Inc. now owns 3,883 shares of the semiconductor company’s stock valued at $357,000 after buying an additional 114 shares during the period. 88.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

RMBS has been the subject of a number of research analyst reports. Jefferies Financial Group raised their price target on Rambus from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Benchmark started coverage on shares of Rambus in a research report on Wednesday. They set a “buy” rating and a $165.00 price objective on the stock. Rosenblatt Securities upped their price objective on shares of Rambus from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rambus in a research report on Friday, June 5th. Finally, Wells Fargo & Company lifted their target price on shares of Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $134.75.

Rambus Price Performance

RMBS opened at $101.44 on Monday. The stock has a market cap of $10.97 billion, a PE ratio of 48.30 and a beta of 1.84. The business has a 50 day moving average of $131.72 and a 200-day moving average of $114.16. Rambus, Inc. has a 52 week low of $62.81 and a 52 week high of $174.10.

Rambus (NASDAQ:RMBS) last released 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 for the quarter, compared to analyst estimates of $179.94 million. Rambus had a return on equity of 17.41% and a net margin of 31.90%. Equities analysts anticipate that Rambus, Inc. will post 2.44 EPS for the current year.

Insider Activity

In related news, Director Necip Sayiner sold 5,000 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $170.15, for a total value of $850,750.00. Following the completion of the transaction, the director directly owned 18,223 shares in the company, valued at $3,100,643.45. This trade represents a 21.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Xianzhi Sean Fan sold 37,914 shares of Rambus stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $151.69, for a total transaction of $5,751,174.66. Following the transaction, the executive vice president directly owned 168,358 shares of the company’s stock, valued at approximately $25,538,225.02. This trade represents a 18.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 65,886 shares of company stock worth $10,171,466. 0.75% of the stock is currently owned by corporate insiders.

Rambus 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.