Louisiana State Employees Retirement System Makes New Investment in Rambus Inc. (NASDAQ:RMBS)

Louisiana State Employees Retirement System purchased a new position in Rambus Inc. (NASDAQ:RMBS) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 30,700 shares of the semiconductor company’s stock, valued at approximately $2,095,000.

Other institutional investors have also bought and sold shares of the company. Blue Trust Inc. increased its stake in Rambus by 100.4% in the 4th quarter. Blue Trust Inc. now owns 447 shares of the semiconductor company’s stock worth $31,000 after buying an additional 224 shares in the last quarter. Fifth Third Bancorp increased its stake in Rambus by 65.8% in the 4th quarter. Fifth Third Bancorp now owns 504 shares of the semiconductor company’s stock worth $34,000 after buying an additional 200 shares in the last quarter. Hollencrest Capital Management purchased a new stake in Rambus in the 1st quarter worth $28,000. Lazard Asset Management LLC purchased a new stake in Rambus in the 2nd quarter worth $40,000. Finally, Orion Capital Management LLC purchased a new stake in Rambus in the 3rd quarter worth $39,000. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Trading Down 2.5 %

Shares of NASDAQ:RMBS opened at $57.25 on Thursday. Rambus Inc. has a 12 month low of $43.58 and a 12 month high of $76.38. The company has a 50-day moving average price of $60.01 and a 200 day moving average price of $62.62. The company has a market cap of $6.22 billion, a price-to-earnings ratio of 19.08 and a beta of 1.16.

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

Analysts Set New Price Targets

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

Insider Activity at Rambus

In related news, COO Xianzhi Sean Fan sold 2,004 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $55.00, for a total value of $110,220.00. Following the completion of the transaction, the chief operating officer now owns 121,229 shares of the company’s stock, valued at approximately $6,667,595. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Rambus news, CEO Luc Seraphin sold 5,530 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $58.66, for a total value of $324,389.80. Following the completion of the sale, the chief executive officer now owns 262,791 shares of the company’s stock, valued at $15,415,320.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Xianzhi Sean Fan sold 2,004 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $55.00, for a total transaction of $110,220.00. Following the completion of the sale, the chief operating officer now directly owns 121,229 shares of the company’s stock, valued at approximately $6,667,595. The disclosure for this sale can be found here. In the last quarter, insiders sold 121,084 shares of company stock valued at $7,408,298. 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.