New York State Common Retirement Fund Has $17.54 Million Holdings in Rambus Inc. (NASDAQ:RMBS)

New York State Common Retirement Fund lessened its holdings in Rambus Inc. (NASDAQ:RMBS) by 0.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 257,006 shares of the semiconductor company’s stock after selling 2,013 shares during the period. New York State Common Retirement Fund’s holdings in Rambus were worth $17,541,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Fifth Third Bancorp increased its stake in Rambus by 65.8% in the 4th quarter. Fifth Third Bancorp now owns 504 shares of the semiconductor company’s stock valued at $34,000 after buying an additional 200 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in Rambus by 0.7% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 31,193 shares of the semiconductor company’s stock valued at $1,740,000 after buying an additional 220 shares during the last quarter. Blue Trust Inc. increased its stake in Rambus by 100.4% in the 4th quarter. Blue Trust Inc. now owns 447 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 224 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its stake in Rambus by 15.7% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,676 shares of the semiconductor company’s stock valued at $93,000 after buying an additional 227 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich increased its stake in Rambus by 3.7% in the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 9,446 shares of the semiconductor company’s stock valued at $527,000 after buying an additional 340 shares during the last quarter. Institutional investors and hedge funds own 88.54% of the company’s stock.

Rambus Stock Up 1.9 %

Shares of RMBS stock opened at $59.23 on Monday. The company has a 50 day moving average of $59.98 and a 200-day moving average of $62.57. Rambus Inc. has a 12-month low of $43.58 and a 12-month high of $76.38. The firm has a market cap of $6.43 billion, a P/E ratio of 19.74 and a beta of 1.16.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings results on Monday, February 5th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.03. Rambus had a net margin of 72.41% and a return on equity of 17.70%. The company had revenue of $136.00 million during the quarter, compared to analyst estimates of $134.00 million. As a group, equities analysts expect that Rambus Inc. will post 1.63 EPS for the current year.

Insider Buying and Selling

In related news, SVP John Shinn sold 3,928 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $64.93, for a total value of $255,045.04. Following the completion of the transaction, the senior vice president now directly owns 28,448 shares of the company’s stock, valued at approximately $1,847,128.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, COO Xianzhi Sean Fan sold 2,004 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $55.00, for a total value of $110,220.00. Following the completion of the transaction, the chief operating officer now directly owns 121,229 shares of the company’s stock, valued at approximately $6,667,595. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP John Shinn sold 3,928 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $64.93, for a total transaction of $255,045.04. Following the completion of the transaction, the senior vice president now directly owns 28,448 shares of the company’s stock, valued at $1,847,128.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 121,084 shares of company stock valued at $7,408,298. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $85.00 price objective on shares of Rambus in a research note on Wednesday, March 13th. Wells Fargo & Company increased their price objective on shares of Rambus from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Rambus has an average rating of “Moderate Buy” and a consensus target price of $77.75.

Rambus Company Profile

Rambus Inc provides semiconductor products in the United States, South Korea, Singapore, and internationally. The company offers DDR memory interface chips, including DDR5 and DDR4 memory interface chips to module manufacturers, OEMs, and hyperscalers; silicon IP, such as interface and security IP solutions that move and protect data in advanced data center, government, and automotive applications; and interface IP solutions for high-speed memory and chip-to-chip digital controller IP.