State of Michigan Retirement System Has $1.53 Million Holdings in Rambus Inc. (NASDAQ:RMBS)

State of Michigan Retirement System lessened its position in shares of Rambus Inc. (NASDAQ:RMBS) by 1.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,000 shares of the semiconductor company’s stock after selling 400 shares during the quarter. State of Michigan Retirement System’s holdings in Rambus were worth $1,528,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of RMBS. Coldstream Capital Management Inc. lifted its position in shares of Rambus by 3.9% during the 4th quarter. Coldstream Capital Management Inc. now owns 4,632 shares of the semiconductor company’s stock worth $316,000 after buying an additional 173 shares during the period. Louisiana State Employees Retirement System lifted its position in shares of Rambus by 0.7% during the 1st quarter. Louisiana State Employees Retirement System now owns 30,900 shares of the semiconductor company’s stock worth $1,910,000 after buying an additional 200 shares during the period. Bleakley Financial Group LLC lifted its position in shares of Rambus by 2.1% during the 1st quarter. Bleakley Financial Group LLC now owns 10,997 shares of the semiconductor company’s stock worth $680,000 after buying an additional 229 shares during the period. Fifth Third Bancorp lifted its position in shares of Rambus by 68.7% during the 2nd quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company’s stock worth $43,000 after buying an additional 296 shares during the period. Finally, Retirement Systems of Alabama lifted its position in shares of Rambus by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 135,005 shares of the semiconductor company’s stock worth $8,345,000 after buying an additional 356 shares during the period. Institutional investors and hedge funds own 88.54% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Susquehanna cut their price objective on Rambus from $75.00 to $66.00 and set a “positive” rating for the company in a research report on Friday, July 26th. Jefferies Financial Group reiterated a “buy” rating and issued a $75.00 price objective (up previously from $72.00) on shares of Rambus in a research report on Monday, May 13th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Rambus has a consensus rating of “Moderate Buy” and an average price target of $77.75.

Rambus Stock Down 0.0 %

RMBS stock opened at $43.91 on Friday. The company has a market cap of $4.73 billion, a P/E ratio of 13.43 and a beta of 1.20. Rambus Inc. has a twelve month low of $38.91 and a twelve month high of $76.38. The business has a fifty day moving average of $53.10 and a 200-day moving average of $56.53.

Rambus (NASDAQ:RMBS) last released its earnings results on Monday, July 29th. The semiconductor company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.12). The firm had revenue of $132.10 million for the quarter, compared to the consensus estimate of $139.00 million. Rambus had a return on equity of 16.74% and a net margin of 48.31%. The company’s revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.36 EPS. As a group, equities research analysts anticipate that Rambus Inc. will post 1.41 earnings per share for the current fiscal year.

Rambus 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.