Rambus Inc. (NASDAQ:RMBS) Position Increased by Arizona State Retirement System

Arizona State Retirement System raised its holdings in shares of Rambus Inc. (NASDAQ:RMBS – Get Rating) by 4.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,188 shares of the semiconductor company’s stock after purchasing an additional 1,232 shares during the period. Arizona State Retirement System’s holdings in Rambus were worth $1,117,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in RMBS. Signaturefd LLC increased its stake in Rambus by 60.4% during the fourth quarter. Signaturefd LLC now owns 937 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 353 shares during the last quarter. Quadrant Capital Group LLC increased its stake in Rambus by 2,010.8% during the third quarter. Quadrant Capital Group LLC now owns 2,533 shares of the semiconductor company’s stock valued at $64,000 after purchasing an additional 2,413 shares during the last quarter. Belpointe Asset Management LLC bought a new stake in Rambus during the third quarter valued at $117,000. Point72 Hong Kong Ltd bought a new position in shares of Rambus during the second quarter worth about $118,000. Finally, Nisa Investment Advisors LLC grew its position in shares of Rambus by 20.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,132 shares of the semiconductor company’s stock worth $148,000 after acquiring an additional 700 shares during the last quarter. Institutional investors own 85.99% of the company’s stock.

Rambus Stock Up 0.6 %

Shares of RMBS opened at $49.60 on Friday. Rambus Inc. has a 52-week low of $20.00 and a 52-week high of $51.88. The firm has a 50-day moving average price of $46.93 and a 200 day moving average price of $41.70. The firm has a market capitalization of $5.40 billion, a PE ratio of 101.22 and a beta of 1.32.

Rambus (NASDAQ:RMBS – Get Rating) last posted its quarterly earnings data on Monday, May 1st. The semiconductor company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.39). Rambus had a net margin of 11.76% and a return on equity of 21.75%. The business had revenue of $113.76 million for the quarter, compared to the consensus estimate of $145.99 million. During the same quarter last year, the business posted $0.34 EPS. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. On average, equities analysts expect that Rambus Inc. will post 1.43 EPS for the current year.

Insider Activity

In other news, Director Eric B. Stang sold 6,000 shares of the firm’s stock in a transaction dated Monday, February 13th. The shares were sold at an average price of $45.46, for a total transaction of $272,760.00. Following the completion of the transaction, the director now owns 27,180 shares in the company, valued at approximately $1,235,602.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Rambus news, Director Eric B. Stang sold 6,000 shares of the company’s stock in a transaction dated Monday, February 13th. The shares were sold at an average price of $45.46, for a total transaction of $272,760.00. Following the completion of the sale, the director now directly owns 27,180 shares of the company’s stock, valued at $1,235,602.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Luc Seraphin sold 12,500 shares of the company’s stock in a transaction dated Monday, March 20th. The shares were sold at an average price of $44.20, for a total transaction of $552,500.00. Following the sale, the chief executive officer now directly owns 342,153 shares of the company’s stock, valued at $15,123,162.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 118,500 shares of company stock worth $5,547,885. Corporate insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

RMBS has been the subject of several recent research reports. StockNews.com initiated coverage on shares of Rambus in a research report on Thursday, March 16th. They set a “hold” rating for the company. Wells Fargo & Company upped their price target on shares of Rambus from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 11th. Susquehanna upped their price target on shares of Rambus from $36.00 to $60.00 and gave the stock a “positive” rating in a research report on Friday, February 3rd. Deutsche Bank Aktiengesellschaft upped their price target on shares of Rambus from $45.00 to $55.00 in a research report on Monday, April 24th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $60.00 target price on shares of Rambus in a research report on Wednesday, April 5th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.20.

Rambus Profile

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Rambus, Inc engages in the provision of cutting-edge semiconductor and Internet Protocol products, spanning memory and interfaces to security, smart sensors and lighting. Its products include Memory Interface Chips, Interface IP, and Security IP. The company was founded by P. Michael Farmwald and Mark A.