Rambus Inc. (NASDAQ:RMBS) Shares Purchased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio increased its stake in shares of Rambus Inc. (NASDAQ:RMBS) by 9.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,147 shares of the semiconductor company’s stock after purchasing an additional 454 shares during the period. Public Employees Retirement System of Ohio’s holdings in Rambus were worth $287,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. raised its holdings in Rambus by 2.9% in the 2nd quarter. BlackRock Inc. now owns 18,383,271 shares of the semiconductor company’s stock valued at $1,179,655,000 after acquiring an additional 518,961 shares during the last quarter. Vanguard Group Inc. raised its holdings in Rambus by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 12,586,966 shares of the semiconductor company’s stock valued at $319,960,000 after acquiring an additional 314,467 shares during the last quarter. State Street Corp increased its holdings in shares of Rambus by 3.3% during the 3rd quarter. State Street Corp now owns 4,855,801 shares of the semiconductor company’s stock worth $123,434,000 after buying an additional 155,076 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Rambus by 14.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,794,327 shares of the semiconductor company’s stock worth $267,476,000 after buying an additional 616,670 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of Rambus by 19.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,134,868 shares of the semiconductor company’s stock worth $174,893,000 after buying an additional 515,657 shares during the last quarter. Institutional investors and hedge funds own 88.54% of the company’s stock.

Rambus Stock Up 1.6 %

Shares of RMBS stock opened at $63.10 on Thursday. Rambus Inc. has a 52 week low of $43.19 and a 52 week high of $76.38. The stock has a market capitalization of $6.85 billion, a PE ratio of 21.03 and a beta of 1.16. The firm has a 50 day moving average of $62.64 and a two-hundred day moving average of $62.12.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings results on Monday, February 5th. The semiconductor company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.37 by $0.03. The company had revenue of $136.00 million during the quarter, compared to analysts’ expectations of $134.00 million. Rambus had a net margin of 72.41% and a return on equity of 17.70%. Analysts expect that Rambus Inc. will post 1.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RMBS. Wells Fargo & Company raised their price target on shares of Rambus from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Rosenblatt Securities restated a “buy” rating and set a $85.00 price target on shares of Rambus in a report on Wednesday, March 13th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $73.20.

Insider Transactions at Rambus

In other news, CEO Luc Seraphin sold 15,000 shares of Rambus stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $62.17, for a total transaction of $932,550.00. Following the completion of the sale, the chief executive officer now directly owns 304,755 shares of the company’s stock, valued at approximately $18,946,618.35. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Desmond Lynch sold 7,837 shares of Rambus stock in a transaction on Monday, March 11th. The shares were sold at an average price of $62.18, for a total transaction of $487,304.66. Following the sale, the chief financial officer now directly owns 41,958 shares in the company, valued at approximately $2,608,948.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Luc Seraphin sold 15,000 shares of Rambus stock in a transaction on 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 in the company, valued at $18,946,618.35. The disclosure for this sale can be found here. In the last three months, insiders sold 85,554 shares of company stock valued at $5,264,708. Insiders own 1.00% of the company’s stock.

About Rambus

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.