American International Group Inc. Decreases Stake in Rambus Inc. (NASDAQ:RMBS)

Posted by on Jun 6th, 2023

American International Group Inc. reduced its position in Rambus Inc. (NASDAQ:RMBS – Get Rating) by 3.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,139 shares of the semiconductor company’s stock after selling 1,981 shares during the period. American International Group Inc. owned 0.05% of Rambus worth $2,083,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Signaturefd LLC lifted its position in shares of Rambus by 60.4% in the fourth quarter. Signaturefd LLC now owns 937 shares of the semiconductor company’s stock worth $34,000 after buying an additional 353 shares in the last quarter. United Services Automobile Association raised its position in Rambus by 3.6% during the third quarter. United Services Automobile Association now owns 12,126 shares of the semiconductor company’s stock valued at $308,000 after purchasing an additional 426 shares during the period. Penserra Capital Management LLC raised its position in Rambus by 8.7% during the first quarter. Penserra Capital Management LLC now owns 7,101 shares of the semiconductor company’s stock valued at $226,000 after purchasing an additional 571 shares during the period. Nisa Investment Advisors LLC raised its position in Rambus by 20.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,132 shares of the semiconductor company’s stock valued at $148,000 after purchasing an additional 700 shares during the period. Finally, MetLife Investment Management LLC raised its position in Rambus by 1.4% during the third quarter. MetLife Investment Management LLC now owns 58,596 shares of the semiconductor company’s stock valued at $1,490,000 after purchasing an additional 800 shares during the period. 85.99% of the stock is currently owned by hedge funds and other institutional investors.

Rambus Stock Down 1.0 %

Shares of NASDAQ:RMBS opened at $63.22 on Tuesday. Rambus Inc. has a 52-week low of $20.00 and a 52-week high of $68.54. The stock has a market cap of $6.88 billion, a P/E ratio of 129.02 and a beta of 1.31. The business’s 50 day moving average is $52.26 and its 200 day moving average is $44.75.

Rambus (NASDAQ:RMBS – Get Rating) last announced its quarterly earnings data on Monday, May 1st. The semiconductor company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.39). Rambus had a return on equity of 21.75% and a net margin of 11.76%. The firm had revenue of $113.76 million during the quarter, compared to the consensus estimate of $145.99 million. During the same period last year, the company earned $0.34 EPS. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Rambus Inc. will post 1.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RMBS. Rosenblatt Securities restated a “buy” rating and set a $60.00 price objective on shares of Rambus in a research report on Wednesday, April 5th. Deutsche Bank Aktiengesellschaft upped their price objective on Rambus from $45.00 to $55.00 in a research report on Monday, April 24th. Jefferies Financial Group upgraded Rambus from a “hold” rating to a “buy” rating in a research report on Thursday, May 18th. StockNews.com initiated coverage on Rambus in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Finally, Wells Fargo & Company increased their price target on Rambus from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, April 11th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $55.17.

Insider Buying and Selling

In related news, CEO Luc Seraphin sold 12,500 shares of the stock in a transaction that occurred on Monday, March 20th. The stock was sold at an average price of $44.20, for a total value of $552,500.00. Following the transaction, the chief executive officer now owns 342,153 shares of the company’s stock, valued at $15,123,162.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 117,056 shares of company stock valued at $5,500,146 over the last quarter. 1.00% of the stock is owned by corporate insiders.

Rambus Company 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.

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Institutional Ownership by Quarter for Rambus (NASDAQ:RMBS)

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