Rambus Inc. (RMBS) Shares Sold by BBT Capital Management LLC

BBT Capital Management LLC cut its position in Rambus Inc. (NASDAQ:RMBS) by 69.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,221 shares of the semiconductor company’s stock after selling 69,731 shares during the quarter. BBT Capital Management LLC’s holdings in Rambus were worth $232,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. First Citizens Bank & Trust Co. acquired a new stake in shares of Rambus in the 4th quarter valued at about $114,000. Man Group plc boosted its position in shares of Rambus by 35.0% in the 3rd quarter. Man Group plc now owns 319,120 shares of the semiconductor company’s stock valued at $3,482,000 after purchasing an additional 82,817 shares during the period. Laurion Capital Management LP acquired a new stake in shares of Rambus in the 3rd quarter valued at about $161,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Rambus in the 3rd quarter valued at about $864,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Rambus by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,483,269 shares of the semiconductor company’s stock valued at $18,601,000 after purchasing an additional 12,232 shares during the period. 76.97% of the stock is owned by hedge funds and other institutional investors.

Get Rambus alerts:

A number of analysts recently issued reports on RMBS shares. Deutsche Bank decreased their target price on Rambus from $16.00 to $13.00 and set a “buy” rating for the company in a research report on Tuesday, October 30th. Zacks Investment Research raised Rambus from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a research report on Saturday, February 2nd. TheStreet cut Rambus from a “c-” rating to a “d” rating in a research report on Tuesday, October 30th. ValuEngine raised Rambus from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Finally, BidaskClub raised Rambus from a “strong sell” rating to a “sell” rating in a research note on Friday, February 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $13.00.

In other Rambus news, SVP Jae Kim sold 21,215 shares of the company’s stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $9.33, for a total transaction of $197,935.95. Following the completion of the sale, the senior vice president now directly owns 103,068 shares of the company’s stock, valued at approximately $961,624.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David A. Shrigley sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $10.45, for a total value of $209,000.00. Following the sale, the director now directly owns 42,155 shares of the company’s stock, valued at $440,519.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,507 shares of company stock valued at $470,231. 3.20% of the stock is owned by company insiders.

RMBS opened at $10.51 on Friday. The company has a quick ratio of 7.52, a current ratio of 7.62 and a debt-to-equity ratio of 0.18. The company has a market cap of $1.12 billion, a price-to-earnings ratio of 13.83, a P/E/G ratio of 1.38 and a beta of 0.74. Rambus Inc. has a 52 week low of $7.17 and a 52 week high of $14.30.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings data on Monday, January 28th. The semiconductor company reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.07. The firm had revenue of $102.00 million during the quarter, compared to the consensus estimate of $102.00 million. Rambus had a positive return on equity of 8.05% and a negative net margin of 28.74%. The firm’s revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.19 EPS. On average, equities research analysts expect that Rambus Inc. will post 0.75 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Rambus Inc. (RMBS) Shares Sold by BBT Capital Management LLC” was originally reported by Ticker Report and is owned by of Ticker Report. If you are viewing this piece of content on another publication, it was illegally stolen and republished in violation of international trademark and copyright legislation. The correct version of this piece of content can be accessed at https://www.tickerreport.com/banking-finance/4170560/rambus-inc-rmbs-shares-sold-by-bbt-capital-management-llc.html.

About Rambus

Rambus Inc provides semiconductor products in South Korea and internationally. The company operates through Memory and Interfaces, Security, and Other segments. It focuses on the design, development, and manufacturing through partnerships and licensing of technology and solutions related to memory and interfaces; and design, development, deployment, and licensing of technologies for chip, system and in-field application security, anti-counterfeiting, smart ticketing, and mobile payments.

Further Reading: What are the benefits of buying treasury bonds?

Want to see what other hedge funds are holding RMBS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rambus Inc. (NASDAQ:RMBS).