Norges Bank purchased a new position in shares of Rambus Inc. (NASDAQ:RMBS) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,632,686 shares of the semiconductor company’s stock, valued at approximately $28,507,000.
Several other institutional investors also recently modified their holdings of RMBS. Marshall Wace LLP acquired a new position in shares of Rambus during the 1st quarter worth approximately $46,000. AQR Capital Management LLC raised its position in shares of Rambus by 11.0% during the 3rd quarter. AQR Capital Management LLC now owns 92,709 shares of the semiconductor company’s stock worth $1,269,000 after purchasing an additional 9,210 shares during the last quarter. California State Teachers Retirement System raised its position in shares of Rambus by 0.5% during the 3rd quarter. California State Teachers Retirement System now owns 171,479 shares of the semiconductor company’s stock worth $2,348,000 after purchasing an additional 851 shares during the last quarter. Voloridge Investment Management LLC acquired a new position in Rambus in the 3rd quarter valued at $215,000. Finally, Matarin Capital Management LLC acquired a new position in Rambus in the 3rd quarter valued at $2,798,000. Hedge funds and other institutional investors own 81.96% of the company’s stock.
In related news, CEO Luc Seraphin sold 36,366 shares of the firm’s stock in a transaction that occurred on Tuesday, February 2nd. The shares were sold at an average price of $19.34, for a total value of $703,318.44. Following the completion of the transaction, the chief executive officer now owns 186,849 shares of the company’s stock, valued at approximately $3,613,659.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Keith A. Jones sold 10,432 shares of the firm’s stock in a transaction that occurred on Wednesday, March 10th. The stock was sold at an average price of $19.85, for a total transaction of $207,075.20. Following the completion of the transaction, the insider now directly owns 56,180 shares of the company’s stock, valued at approximately $1,115,173. The disclosure for this sale can be found here. Insiders sold a total of 59,403 shares of company stock valued at $1,151,023 in the last ninety days. Company insiders own 1.10% of the company’s stock.
Rambus (NASDAQ:RMBS) last issued its earnings results on Sunday, January 31st. The semiconductor company reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.07. The firm had revenue of $98.40 million during the quarter, compared to analysts’ expectations of $96.99 million. Rambus had a negative net margin of 17.06% and a negative return on equity of 3.28%. During the same period last year, the firm posted $1.70 earnings per share. On average, sell-side analysts expect that Rambus Inc. will post 1 EPS for the current fiscal year.
RMBS has been the subject of several analyst reports. Roth Capital boosted their price target on Rambus from $18.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday, December 30th. Credit Suisse Group upped their price objective on Rambus from $16.00 to $19.00 and gave the stock a “neutral” rating in a report on Tuesday, February 2nd. Citigroup upped their price target on shares of Rambus from $17.00 to $24.00 in a research report on Monday, January 25th. Finally, Zacks Investment Research raised shares of Rambus from a “sell” rating to a “hold” rating in a research report on Saturday, February 6th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $19.33.
Rambus Inc provides semiconductor products in the United States, Taiwan, South Korea, Japan, Europe, Canada, Singapore, Asia, and internationally. The company offers DDR memory interface chips to module manufacturers and OEMs; physical interface and companion digital controller IPs for SoC designers; and portfolio of patents that covers memory architecture, high-speed serial links, and security products.
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