Illinois Municipal Retirement Fund Sells 61,813 Shares of Rambus Inc. (NASDAQ:RMBS)

Illinois Municipal Retirement Fund lessened its holdings in shares of Rambus Inc. (NASDAQ:RMBS) by 86.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 10,104 shares of the semiconductor company’s stock after selling 61,813 shares during the period. Illinois Municipal Retirement Fund’s holdings in Rambus were worth $690,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its holdings in Rambus by 14.8% in the third quarter. JPMorgan Chase & Co. now owns 4,794,327 shares of the semiconductor company’s stock valued at $267,476,000 after acquiring an additional 616,670 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Rambus by 19.7% in the third quarter. Ameriprise Financial Inc. now owns 3,134,868 shares of the semiconductor company’s stock valued at $174,893,000 after acquiring an additional 515,657 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Rambus by 76.5% in the third quarter. Bank of New York Mellon Corp now owns 1,987,653 shares of the semiconductor company’s stock valued at $110,891,000 after acquiring an additional 861,427 shares during the last quarter. Northern Trust Corp boosted its holdings in Rambus by 0.4% in the third quarter. Northern Trust Corp now owns 1,515,278 shares of the semiconductor company’s stock valued at $84,537,000 after acquiring an additional 5,856 shares during the last quarter. Finally, Polar Capital Holdings Plc boosted its holdings in Rambus by 8.0% in the third quarter. Polar Capital Holdings Plc now owns 1,414,394 shares of the semiconductor company’s stock valued at $78,909,000 after acquiring an additional 105,281 shares during the last quarter. Institutional investors own 88.54% of the company’s stock.

Analyst Upgrades and Downgrades

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

Rambus Trading Up 2.1 %

NASDAQ:RMBS opened at $60.48 on Tuesday. Rambus Inc. has a 1-year low of $44.45 and a 1-year high of $76.38. The business’s 50-day moving average price is $60.07 and its two-hundred day moving average price is $62.57. The firm has a market capitalization of $6.57 billion, a price-to-earnings ratio of 20.16 and a beta of 1.16.

Rambus (NASDAQ:RMBS) last released its earnings results on Monday, April 29th. The semiconductor company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.14). Rambus had a net margin of 72.41% and a return on equity of 17.70%. The company had revenue of $117.90 million during the quarter, compared to analyst estimates of $132.00 million. During the same period in the previous year, the company posted $0.35 EPS. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. Sell-side analysts predict that Rambus Inc. will post 1.63 earnings per share for the current year.

Insider Buying and Selling at Rambus

In other Rambus news, SVP John Shinn sold 3,928 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $64.93, for a total value of $255,045.04. Following the transaction, the senior vice president now owns 28,448 shares of the company’s stock, valued at $1,847,128.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Luc Seraphin sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $62.17, for a total transaction of $932,550.00. Following the sale, the chief executive officer now owns 304,755 shares of the company’s stock, valued at $18,946,618.35. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP John Shinn sold 3,928 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $64.93, for a total value of $255,045.04. Following the sale, the senior vice president now directly owns 28,448 shares in the company, valued at approximately $1,847,128.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 121,084 shares of company stock valued at $7,408,298. 1.00% of the stock is currently owned by company insiders.

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.