Rambus Inc. (RMBS) Position Lowered by California State Teachers Retirement System
California State Teachers Retirement System lessened its position in shares of Rambus Inc. (NASDAQ:RMBS) by 11.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 173,564 shares of the semiconductor company’s stock after selling 22,891 shares during the period. California State Teachers Retirement System’s holdings in Rambus were worth $2,317,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. grew its position in Rambus by 9.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,734 shares of the semiconductor company’s stock worth $111,000 after purchasing an additional 822 shares during the last quarter. Shelton Capital Management purchased a new stake in Rambus during the 2nd quarter worth approximately $126,000. Petrus Trust Company LTA purchased a new stake in Rambus during the 2nd quarter worth approximately $138,000. Nine Chapters Capital Management LLC purchased a new stake in Rambus during the 3rd quarter worth approximately $158,000. Finally, Pinebridge Investments L.P. grew its position in Rambus by 1.5% during the 2nd quarter. Pinebridge Investments L.P. now owns 14,720 shares of the semiconductor company’s stock worth $169,000 after purchasing an additional 219 shares during the last quarter. 77.01% of the stock is currently owned by institutional investors.
RMBS has been the topic of several research analyst reports. TheStreet raised shares of Rambus from a “c+” rating to a “b-” rating in a research report on Friday, October 13th. Zacks Investment Research raised shares of Rambus from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Friday, October 27th. Citigroup boosted their target price on shares of Rambus from $15.30 to $15.90 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Loop Capital reissued a “buy” rating and set a $19.00 target price (up previously from $16.00) on shares of Rambus in a research report on Tuesday, October 24th. Finally, BidaskClub downgraded shares of Rambus from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $15.98.
Shares of Rambus Inc. (RMBS) opened at $14.36 on Monday. The firm has a market cap of $1,580.00, a P/E ratio of 159.56, a price-to-earnings-growth ratio of 2.56 and a beta of 0.74. Rambus Inc. has a 12-month low of $11.30 and a 12-month high of $15.50. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.37.
Rambus (NASDAQ:RMBS) last released its quarterly earnings data on Monday, October 23rd. The semiconductor company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.17 by $0.02. The business had revenue of $99.10 million for the quarter, compared to the consensus estimate of $99.00 million. Rambus had a net margin of 2.54% and a return on equity of 9.79%. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.16 EPS. equities analysts expect that Rambus Inc. will post 0.52 earnings per share for the current year.
In other news, Director David A. Shrigley sold 5,000 shares of the company’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $14.06, for a total value of $70,300.00. Following the sale, the director now directly owns 53,045 shares of the company’s stock, valued at approximately $745,812.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jae Kim sold 7,000 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $14.90, for a total transaction of $104,300.00. Following the completion of the sale, the senior vice president now directly owns 99,580 shares in the company, valued at $1,483,742. The disclosure for this sale can be found here. Insiders sold a total of 28,643 shares of company stock worth $416,358 over the last ninety days. Insiders own 2.00% of the company’s stock.
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Rambus Company Profile
Rambus Inc (Rambus) produces hardware and software technologies. The Company’s segments include Memory and Interface Division (MID), which focuses the design, development, manufacturing through partnerships and licensing of technology and solutions that is related to memory and interfaces; Rambus Security Division (RSD), which focuses on the design, development and licensing of technologies for chip and system security, anti-counterfeiting, smart ticketing and mobile payments; Emerging Solutions Division (ESD), which encompasses its long-term research and development efforts in the area of emerging technologies, and Rambus Lighting Division (RLD), which focuses on the design, development and licensing of technologies for lighting.
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