Texas Permanent School Fund trimmed its position in Rambus Inc. (NASDAQ:RMBS) by 7.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,206 shares of the semiconductor company’s stock after selling 5,571 shares during the quarter. Texas Permanent School Fund owned about 0.07% of Rambus worth $1,055,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in RMBS. Ameriprise Financial Inc. boosted its stake in Rambus by 8.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 627,234 shares of the semiconductor company’s stock worth $7,169,000 after purchasing an additional 46,316 shares during the period. Amalgamated Bank boosted its stake in Rambus by 3.7% in the 2nd quarter. Amalgamated Bank now owns 15,208 shares of the semiconductor company’s stock worth $174,000 after purchasing an additional 549 shares during the period. New York State Common Retirement Fund boosted its stake in Rambus by 6.7% in the 2nd quarter. New York State Common Retirement Fund now owns 135,900 shares of the semiconductor company’s stock worth $1,553,000 after purchasing an additional 8,499 shares during the period. UBS Asset Management Americas Inc. boosted its stake in Rambus by 11.6% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 60,240 shares of the semiconductor company’s stock worth $689,000 after purchasing an additional 6,238 shares during the period. Finally, Northern Trust Corp boosted its stake in Rambus by 3.6% in the 2nd quarter. Northern Trust Corp now owns 1,408,079 shares of the semiconductor company’s stock worth $16,095,000 after purchasing an additional 49,027 shares during the period. 78.01% of the stock is owned by institutional investors.
In related news, SVP Jae Kim sold 7,000 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $14.90, for a total transaction of $104,300.00. Following the sale, the senior vice president now owns 99,580 shares in the company, valued at approximately $1,483,742. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Laura Stark sold 2,936 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $12.00, for a total value of $35,232.00. Following the sale, the senior vice president now owns 236,053 shares in the company, valued at approximately $2,832,636. The disclosure for this sale can be found here. Insiders have sold a total of 40,989 shares of company stock valued at $574,214 over the last quarter. Corporate insiders own 2.00% of the company’s stock.
Several research analysts have weighed in on the company. ValuEngine upgraded Rambus from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Zacks Investment Research downgraded Rambus from a “hold” rating to a “sell” rating in a research note on Wednesday, January 31st. Benchmark restated a “buy” rating and issued a $18.00 price target (up from $16.00) on shares of Rambus in a research note on Thursday, January 25th. BidaskClub downgraded Rambus from a “sell” rating to a “strong sell” rating in a research note on Wednesday, January 24th. Finally, Citigroup upped their price target on Rambus from $15.30 to $15.90 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. Rambus presently has an average rating of “Hold” and an average target price of $16.32.
Rambus Inc. (NASDAQ RMBS) opened at $12.17 on Wednesday. The company has a current ratio of 2.80, a quick ratio of 2.76 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $1,333.80, a P/E ratio of -71.58, a PEG ratio of 1.85 and a beta of 0.52. Rambus Inc. has a 52-week low of $11.30 and a 52-week high of $15.50.
Rambus (NASDAQ:RMBS) last posted its earnings results on Monday, January 29th. The semiconductor company reported $0.19 EPS for the quarter, meeting analysts’ consensus estimates of $0.19. The firm had revenue of $101.89 million during the quarter, compared to the consensus estimate of $101.25 million. Rambus had a positive return on equity of 9.56% and a negative net margin of 4.70%. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.16 EPS. sell-side analysts predict that Rambus Inc. will post 0.66 earnings per share for the current fiscal year.
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Rambus Company Profile
Rambus Inc (Rambus) produces hardware and software technologies. The Company’s segments include Memory and Interface Division (MID), which focuses the design, development, manufacturing through partnerships and licensing of technology and solutions that is related to memory and interfaces; Rambus Security Division (RSD), which focuses on the design, development and licensing of technologies for chip and system security, anti-counterfeiting, smart ticketing and mobile payments; Emerging Solutions Division (ESD), which encompasses its long-term research and development efforts in the area of emerging technologies, and Rambus Lighting Division (RLD), which focuses on the design, development and licensing of technologies for lighting.
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