HighTower Advisors LLC Decreases Stock Position in Rambus, Inc. $RMBS

HighTower Advisors LLC trimmed its position in shares of Rambus, Inc. (NASDAQ:RMBS) by 27.0% in the second quarter, Holdings Channel.com reports. The firm owned 132,484 shares of the semiconductor company’s stock after selling 49,112 shares during the period. HighTower Advisors LLC’s holdings in Rambus were worth $17,586,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Acumen Wealth Advisors LLC acquired a new position in Rambus in the 4th quarter worth $25,000. Danske Bank A S acquired a new stake in shares of Rambus during the second quarter valued at about $27,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Rambus during the fourth quarter valued at about $28,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Rambus during the second quarter worth about $41,000. Finally, Western Wealth Management LLC purchased a new stake in shares of Rambus during the first quarter worth about $44,000. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Stock Up 1.7%

Shares of Rambus stock opened at $86.89 on Wednesday. The business has a 50-day moving average price of $97.39 and a 200 day moving average price of $111.25. Rambus, Inc. has a fifty-two week low of $72.50 and a fifty-two week high of $174.10. The firm has a market cap of $9.42 billion, a P/E ratio of 39.86 and a beta of 1.88.

Rambus (NASDAQ:RMBS) last released its earnings results on Monday, July 27th. The semiconductor company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.05. Rambus had a return on equity of 17.89% and a net margin of 31.69%.The company had revenue of $207.39 million for the quarter, compared to the consensus estimate of $199.30 million. During the same quarter last year, the business posted $0.53 EPS. Rambus’s quarterly revenue was up 20.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Rambus, Inc. will post 2.52 earnings per share for the current year.

Wall Street Analysts Forecast Growth

RMBS has been the subject of a number of analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Rambus in a report on Wednesday, September 2nd. Benchmark restated a “buy” rating on shares of Rambus in a report on Tuesday, July 28th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $165.00 target price on shares of Rambus in a research report on Tuesday, July 28th. Finally, Glj Research set a $165.00 target price on Rambus in a research note on Tuesday, July 28th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $145.88.

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.