Texas Permanent School Fund Decreases Stock Position in Rambus Inc. (NASDAQ:RMBS)

Posted by on May 10th, 2023

Texas Permanent School Fund decreased its holdings in Rambus Inc. (NASDAQ:RMBS – Get Rating) by 9.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 72,259 shares of the semiconductor company’s stock after selling 7,234 shares during the quarter. Texas Permanent School Fund owned 0.07% of Rambus worth $2,588,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Signaturefd LLC grew its position in Rambus by 60.4% in the 4th quarter. Signaturefd LLC now owns 937 shares of the semiconductor company’s stock worth $34,000 after purchasing an additional 353 shares during the period. Quadrant Capital Group LLC lifted its stake in shares of Rambus by 2,010.8% in the 3rd quarter. Quadrant Capital Group LLC now owns 2,533 shares of the semiconductor company’s stock worth $64,000 after purchasing an additional 2,413 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of Rambus by 20.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,132 shares of the semiconductor company’s stock worth $148,000 after buying an additional 700 shares during the last quarter. Belpointe Asset Management LLC purchased a new stake in Rambus during the third quarter valued at approximately $117,000. Finally, Point72 Hong Kong Ltd bought a new position in Rambus in the second quarter worth approximately $118,000. Hedge funds and other institutional investors own 85.99% of the company’s stock.

Rambus Stock Down 2.1 %

Shares of Rambus stock opened at $47.48 on Wednesday. The firm has a market capitalization of $5.12 billion, a P/E ratio of 96.90 and a beta of 1.32. The company has a 50 day moving average price of $46.58 and a 200 day moving average price of $41.31. Rambus Inc. has a 52 week low of $20.00 and a 52 week high of $51.88.

Rambus (NASDAQ:RMBS – Get Rating) last posted its earnings results 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 firm had revenue of $113.76 million for the quarter, compared to analysts’ expectations of $145.99 million. During the same period last year, the firm earned $0.34 earnings per share. Rambus’s revenue for the quarter was up 14.9% compared to the same quarter last year. As a group, research analysts anticipate that Rambus Inc. will post 1.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Insider Activity

In related news, Director Necip Sayiner sold 2,873 shares of the business’s stock in a transaction dated Friday, February 10th. The shares were sold at an average price of $45.53, for a total value of $130,807.69. Following the sale, the director now directly owns 25,000 shares in the company, valued at approximately $1,138,250. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Rambus news, Director Eric B. Stang sold 6,000 shares of the business’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 sale, the director now directly owns 27,180 shares in the company, valued at $1,235,602.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Necip Sayiner sold 2,873 shares of the business’s stock in a transaction dated Friday, February 10th. The stock was sold at an average price of $45.53, for a total value of $130,807.69. Following the transaction, the director now directly owns 25,000 shares of the company’s stock, valued at $1,138,250. The disclosure for this sale can be found here. In the last quarter, insiders have sold 121,373 shares of company stock valued at $5,678,693. 1.00% of the stock is currently owned by insiders.

Rambus Profile

(Get Rating)

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.

Featured Stories

Institutional Ownership by Quarter for Rambus (NASDAQ:RMBS)

Receive News & Ratings for Rambus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rambus and related companies with MarketBeat.com's FREE daily email newsletter.