State of Alaska Department of Revenue Buys 6,901 Shares of Rambus, Inc. $RMBS

State of Alaska Department of Revenue increased its stake in shares of Rambus, Inc. (NASDAQ:RMBS) by 59.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,476 shares of the semiconductor company’s stock after acquiring an additional 6,901 shares during the quarter. State of Alaska Department of Revenue’s holdings in Rambus were worth $1,697,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Allworth Financial LP grew its position in Rambus by 8.2% during the 3rd quarter. Allworth Financial LP now owns 1,601 shares of the semiconductor company’s stock worth $167,000 after acquiring an additional 121 shares during the last quarter. Coldstream Capital Management Inc. grew its position in Rambus by 2.2% during the 3rd quarter. Coldstream Capital Management Inc. now owns 5,703 shares of the semiconductor company’s stock worth $594,000 after acquiring an additional 125 shares during the last quarter. GAMMA Investing LLC grew its position in Rambus by 3.3% during the 4th quarter. GAMMA Investing LLC now owns 4,833 shares of the semiconductor company’s stock worth $444,000 after acquiring an additional 153 shares during the last quarter. Farther Finance Advisors LLC grew its position in Rambus by 19.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,045 shares of the semiconductor company’s stock worth $109,000 after acquiring an additional 167 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in Rambus by 2.0% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 9,363 shares of the semiconductor company’s stock worth $907,000 after acquiring an additional 187 shares during the last quarter. 88.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RMBS has been the topic of several recent research reports. Weiss Ratings lowered Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, March 10th. Zacks Research upgraded Rambus to a “hold” rating in a research report on Monday, January 26th. Evercore cut their price objective on Rambus from $126.00 to $119.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 3rd. Susquehanna cut their price objective on Rambus from $100.00 to $90.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 3rd. Finally, William Blair started coverage on Rambus in a research report on Thursday, January 22nd. They issued an “outperform” rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $105.71.

Insider Buying and Selling at Rambus

In other Rambus news, CFO Desmond Lynch sold 4,273 shares of Rambus stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $101.53, for a total transaction of $433,837.69. Following the completion of the transaction, the chief financial officer owned 63,618 shares in the company, valued at approximately $6,459,135.54. The trade was a 6.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Luc Seraphin sold 39,914 shares of Rambus stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $98.63, for a total value of $3,936,717.82. Following the transaction, the chief executive officer owned 331,070 shares of the company’s stock, valued at $32,653,434.10. The trade was a 10.76% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 58,151 shares of company stock worth $5,848,885. 0.75% of the stock is owned by insiders.

Rambus Price Performance

RMBS opened at $126.93 on Monday. The stock has a market cap of $13.73 billion, a PE ratio of 60.16 and a beta of 1.63. The business has a 50 day moving average of $98.28 and a 200-day moving average of $99.66. Rambus, Inc. has a 52 week low of $43.21 and a 52 week high of $135.75.

Rambus (NASDAQ:RMBS) last released its earnings results on Monday, February 2nd. The semiconductor company reported $0.68 EPS for the quarter, meeting analysts’ consensus estimates of $0.68. The company had revenue of $190.24 million during the quarter, compared to analysts’ expectations of $188.21 million. Rambus had a return on equity of 17.69% and a net margin of 32.57%. Equities analysts anticipate that Rambus, Inc. will post 1.89 EPS for the current year.

Rambus Profile

Rambus Inc is a technology licensing company specializing in semiconductor and system-level interface solutions. Founded in 1990 by Stanford University researchers Mike Farmwald and Mark Horowitz, Rambus established its headquarters in Sunnyvale, California. The company initially gained prominence by developing high-speed DRAM interface technology and securing a broad patent portfolio covering memory architecture, data signaling and power management innovations.

Today, Rambus licenses its proprietary intellectual property (IP) to semiconductor companies, original equipment manufacturers (OEMs) and system integrators worldwide.