Louisiana State Employees Retirement System Makes New $2.68 Million Investment in Rambus, Inc. $RMBS

Louisiana State Employees Retirement System bought a new stake in Rambus, Inc. (NASDAQ:RMBS) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 31,200 shares of the semiconductor company’s stock, valued at approximately $2,684,000.

Other institutional investors have also recently made changes to their positions in the company. Acumen Wealth Advisors LLC purchased a new stake in shares of Rambus during the fourth quarter worth $25,000. Torren Management LLC purchased a new position in shares of Rambus in the fourth quarter valued at $26,000. Spire Wealth Management grew its position in shares of Rambus by 199.0% in the fourth quarter. Spire Wealth Management now owns 302 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 201 shares in the last quarter. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Rambus during the 4th quarter valued at $28,000. Finally, IFP Advisors Inc raised its stake in shares of 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. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Stock Performance

Shares of NASDAQ RMBS opened at $114.73 on Monday. The business has a 50-day moving average of $136.54 and a 200-day moving average of $112.54. The firm has a market capitalization of $12.41 billion, a price-to-earnings ratio of 54.63 and a beta of 1.84. Rambus, Inc. has a 12 month low of $61.16 and a 12 month high of $174.10.

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

Insider Transactions at Rambus

In related news, Director Emiko Higashi sold 10,000 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $160.50, for a total transaction of $1,605,000.00. Following the completion of the sale, the director directly owned 49,519 shares in the company, valued at $7,947,799.50. This represents a 16.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Meera Rao sold 2,972 shares of the firm’s stock in a transaction 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 sale, the director directly owned 19,974 shares in the company, valued at approximately $3,002,092.20. This trade represents a 12.95% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 79,850 shares of company stock valued at $11,649,796. Insiders own 0.75% of the company’s stock.

Wall Street Analyst Weigh In

RMBS has been the subject of a number of analyst reports. Evercore restated an “outperform” rating and issued a $172.00 price objective on shares of Rambus in a research report on Tuesday, April 28th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rambus in a research note on Friday, June 5th. Wells Fargo & Company raised their price target on shares of Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. Jefferies Financial Group boosted their price target on shares of Rambus from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Finally, Robert W. Baird cut shares of Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price target on the stock. in a report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $130.43.

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.