Strs Ohio Has $1.99 Million Holdings in Rambus Inc. (NASDAQ:RMBS)

Strs Ohio decreased its stake in Rambus Inc. (NASDAQ:RMBS) by 7.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,100 shares of the semiconductor company’s stock after selling 2,400 shares during the quarter. Strs Ohio’s holdings in Rambus were worth $1,986,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. American Century Companies Inc. bought a new stake in shares of Rambus in the 1st quarter worth about $230,000. Cambridge Investment Research Advisors Inc. boosted its position in Rambus by 78.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,230 shares of the semiconductor company’s stock valued at $518,000 after buying an additional 7,142 shares in the last quarter. MetLife Investment Management LLC grew its stake in Rambus by 56.5% during the first quarter. MetLife Investment Management LLC now owns 59,397 shares of the semiconductor company’s stock worth $1,894,000 after buying an additional 21,446 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Rambus by 0.3% during the first quarter. BlackRock Inc. now owns 17,199,468 shares of the semiconductor company’s stock worth $548,492,000 after buying an additional 47,422 shares in the last quarter. Finally, Cibc World Market Inc. bought a new position in shares of Rambus in the first quarter valued at approximately $575,000. 88.54% of the stock is currently owned by institutional investors.

Rambus Stock Down 3.2 %

RMBS stock opened at $54.68 on Friday. Rambus Inc. has a twelve month low of $43.58 and a twelve month high of $76.38. The company has a market cap of $5.94 billion, a P/E ratio of 18.23 and a beta of 1.16. The business has a fifty day moving average of $59.94 and a 200-day moving average of $62.56.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings data on Monday, February 5th. The semiconductor company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.03. Rambus had a return on equity of 17.70% and a net margin of 72.41%. The firm had revenue of $136.00 million during the quarter, compared to analysts’ expectations of $134.00 million. As a group, equities research analysts anticipate that Rambus Inc. will post 1.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Rambus news, COO Xianzhi Sean Fan sold 2,004 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $55.00, for a total value of $110,220.00. Following the transaction, the chief operating officer now directly owns 121,229 shares of the company’s stock, valued at $6,667,595. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Luc Seraphin sold 15,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $62.17, for a total value 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Xianzhi Sean Fan sold 2,004 shares of Rambus stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $55.00, for a total transaction of $110,220.00. Following the transaction, the chief operating officer now directly owns 121,229 shares in the company, valued at approximately $6,667,595. The disclosure for this sale can be found here. Insiders sold a total of 121,084 shares of company stock valued at $7,408,298 over the last ninety days. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

RMBS has been the topic of a number of research analyst reports. Rosenblatt Securities restated a “buy” rating and set a $85.00 price target on shares of Rambus in a research report on Wednesday, March 13th. Wells Fargo & Company increased their price objective on shares of Rambus from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.20.

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.