Rambus, Inc. $RMBS Position Increased by California Public Employees Retirement System

California Public Employees Retirement System boosted its stake in shares of Rambus, Inc. (NASDAQ:RMBS) by 15.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 227,271 shares of the semiconductor company’s stock after purchasing an additional 31,064 shares during the quarter. California Public Employees Retirement System’s holdings in Rambus were worth $19,552,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Acumen Wealth Advisors LLC acquired a new position in shares of Rambus during the fourth quarter valued at $25,000. Torren Management LLC acquired a new stake in shares of Rambus in the 4th quarter worth about $26,000. Spire Wealth Management lifted its position in Rambus by 199.0% in the 4th quarter. Spire Wealth Management now owns 302 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 201 shares during the last quarter. University of Texas Texas AM Investment Management Co. acquired a new position in Rambus during the 4th quarter valued at about $28,000. Finally, IFP Advisors Inc boosted its stake in Rambus by 126.7% during the 3rd quarter. IFP Advisors Inc now owns 442 shares of the semiconductor company’s stock valued at $47,000 after purchasing an additional 247 shares during the period. 88.54% of the stock is currently owned by institutional investors.

Rambus Stock Performance

Shares of NASDAQ RMBS opened at $103.83 on Thursday. Rambus, Inc. has a 1 year low of $62.81 and a 1 year high of $174.10. The firm has a market cap of $11.23 billion, a P/E ratio of 49.44 and a beta of 1.84. The stock has a fifty day moving average price of $129.94 and a two-hundred day moving average price of $114.38.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings data on Monday, April 27th. The semiconductor company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. The company had revenue of $180.19 million for the quarter, compared to the consensus estimate of $179.94 million. Rambus had a return on equity of 17.41% and a net margin of 31.90%. On average, research analysts predict that Rambus, Inc. will post 2.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Rosenblatt Securities boosted their price objective on Rambus from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Evercore reaffirmed an “outperform” rating and set a $172.00 target price on shares of Rambus in a research note on Tuesday, April 28th. Robert W. Baird lowered Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price target for the company. in a research report on Tuesday, April 28th. Benchmark initiated coverage on Rambus in a report on Wednesday, July 15th. They set a “buy” rating and a $165.00 price target on the stock. Finally, Wells Fargo & Company lifted their price objective on shares of Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Rambus presently has a consensus rating of “Moderate Buy” and an average target price of $134.75.

Insider Activity

In other news, Director Necip Sayiner sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $170.15, for a total transaction of $850,750.00. Following the completion of the transaction, the director owned 18,223 shares in the company, valued at approximately $3,100,643.45. This trade represents a 21.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Meera Rao sold 2,972 shares of Rambus stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $150.30, for a total transaction of $446,691.60. Following the completion of the transaction, the director directly owned 19,974 shares in the company, valued at $3,002,092.20. This represents a 12.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 65,886 shares of company stock valued at $10,171,466 over the last quarter. Insiders own 0.75% of the company’s stock.

Rambus Profile

Rambus Inc is a technology licensing company specializing in semiconductor and system-level interface solutions. Founded in 1990 by Stanford University researchers Mike Farmwald and Mark Horowitz, Rambus established its headquarters in Sunnyvale, California. The company initially gained prominence by developing high-speed DRAM interface technology and securing a broad patent portfolio covering memory architecture, data signaling and power management innovations.

Today, Rambus licenses its proprietary intellectual property (IP) to semiconductor companies, original equipment manufacturers (OEMs) and system integrators worldwide.