South Dakota Investment Council Boosts Stake in Rambus, Inc. $RMBS

South Dakota Investment Council lifted its holdings in shares of Rambus, Inc. (NASDAQ:RMBS) by 35.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 38,813 shares of the semiconductor company’s stock after acquiring an additional 10,200 shares during the quarter. South Dakota Investment Council’s holdings in Rambus were worth $4,044,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Victory Capital Management Inc. grew its stake in Rambus by 83.7% during the 3rd quarter. Victory Capital Management Inc. now owns 69,497 shares of the semiconductor company’s stock valued at $7,242,000 after purchasing an additional 31,668 shares in the last quarter. CI Investments Inc. raised its position in shares of Rambus by 39.5% in the 3rd quarter. CI Investments Inc. now owns 661 shares of the semiconductor company’s stock valued at $69,000 after purchasing an additional 187 shares in the last quarter. Focus Partners Advisor Solutions LLC boosted its stake in shares of Rambus by 8.9% during the 3rd quarter. Focus Partners Advisor Solutions LLC now owns 5,564 shares of the semiconductor company’s stock valued at $597,000 after buying an additional 455 shares during the last quarter. Elo Mutual Pension Insurance Co grew its position in shares of Rambus by 39.7% during the third quarter. Elo Mutual Pension Insurance Co now owns 16,462 shares of the semiconductor company’s stock worth $1,715,000 after buying an additional 4,682 shares in the last quarter. Finally, Fisher Asset Management LLC bought a new stake in shares of Rambus in the third quarter worth $15,930,000. Institutional investors and hedge funds own 88.54% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Zacks Research raised shares of Rambus to a “hold” rating in a research report on Monday, January 26th. Susquehanna decreased their price target on Rambus from $100.00 to $90.00 and set a “neutral” rating for the company in a research note on Tuesday, February 3rd. Weiss Ratings upgraded Rambus from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Rosenblatt Securities reaffirmed a “buy” rating and set a $130.00 target price on shares of Rambus in a report on Tuesday, February 3rd. Finally, Cfra downgraded Rambus from a “hold” rating to a “moderate sell” rating in a report on Monday, December 15th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $105.71.

Rambus Trading Down 11.4%

Shares of NASDAQ RMBS opened at $87.59 on Wednesday. Rambus, Inc. has a 12-month low of $40.12 and a 12-month high of $135.75. The company has a market cap of $9.44 billion, a price-to-earnings ratio of 41.51 and a beta of 1.55. The stock’s 50 day simple moving average is $102.60 and its 200 day simple moving average is $97.07.

Rambus (NASDAQ:RMBS) last posted its earnings results on Monday, February 2nd. The semiconductor company reported $0.68 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.68. The company had revenue of $190.24 million for the quarter, compared to analysts’ expectations of $188.21 million. Rambus had a return on equity of 17.69% and a net margin of 32.57%. As a group, equities analysts forecast that Rambus, Inc. will post 1.89 earnings per share for the current fiscal year.

Insider Activity

In other Rambus news, CEO Luc Seraphin sold 39,914 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $98.63, for a total value of $3,936,717.82. Following the sale, the chief executive officer owned 331,070 shares in the company, valued at approximately $32,653,434.10. This trade represents a 10.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Desmond Lynch sold 4,273 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $101.53, for a total value of $433,837.69. Following the transaction, the chief financial officer owned 63,618 shares of the company’s stock, valued at approximately $6,459,135.54. This represents a 6.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.00% of the stock is currently owned by corporate insiders.

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.