The State Board of Administration of Florida Retirement System Rambus Inc. sold 6,274 shares of (NASDAQ: RMBS)

The State Board of Administration of the Florida Retirement System announced Rambus Inc. (NASDAQ: RMBS – Get Rating) by 10.1%, according to the company’s most recent 13F filing with the Securities and Exchange Commission. The firm held 55,873 shares of the semiconductor company’s stock after selling 6,274 shares during the period. The State Board of Administration of the Florida Retirement System owned approximately 0.05% of Rambus valued at $1,201,000 as of its most recent SEC filing.

Several other institutional investors also increased or decreased their holdings in RMBS recently. BlackRock Inc. raised its stake in Rambus shares by 0.3% during the first quarter. After buying an additional 47,422 shares last quarter, BlackRock Inc. holds 17,199,468 shares of the semiconductor company worth $548,492,000. Vanguard Group Inc. raised its stake in Rambus by 1.4% in the first quarter. Vanguard Group Inc. now owns 12,030,880 shares of the semiconductor company’s stock valued at $383,665,000 after buying an additional 168,940 shares in the last quarter. Neuberger Berman Group LLC increased its stake in Rambus to 19.9% ​​in the first quarter. Neuberger Berman Group LLC now owns 4,220,649 shares of the semiconductor company’s stock valued at $134,646,000 after buying an additional 701,583 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Rambus by 2.4% in the first quarter. Dimensional Fund Advisors LP now owns 3,718,856 shares of the semiconductor company’s stock valued at $118,597,000 after buying an additional 87,609 shares in the last quarter. Finally, Lord Abbate & Company LLC raised its stake in Rambus to 13.7% in the first quarter. Lord Abbott & Company LLC now owns 1,961,530 shares of the semiconductor company’s stock valued at $62,553,000 after buying an additional 236,164 shares in the last quarter. 86.28% of the stock is held by institutional investors.

Indoor Activity at Rambus

In related news, COO Jianzhi Sean Fan sold 51,772 shares of the company’s stock in a transaction on Tuesday, Nov. 15. The stock was sold at an average price of $38.51 for a total value of $1,993,739.72. Following the completion of the sale, the chief operating officer now holds 191,015 shares in the company valued at $7,355,987.65. The transaction was disclosed in a filing with the Securities and Exchange Commission, which is available on the SEC website. In related news, Director Necip Siner sold 15,000 shares of the company’s stock in a transaction on Tuesday, Nov 15. The stock was sold at an average price of $38.16 for a total value of $572,400.00. Following the completion of the sale, the director now holds 27,873 shares in the company, valued at $1,063,633.68. The transaction was disclosed in a filing with the Securities and Exchange Commission, which is available on the SEC website. Besides, COO Jianzhi Sean Fan sold 51,772 shares of the business’s stock in a transaction on Tuesday, Nov 15. Shares were sold at an average price of $38.51 for a total value of $1,993,739.72. Following the completion of the transaction, the Chief Operating Officer now directly owns 191,015 shares of the Company’s stock, valued at $7,355,987.65. Disclosure of this sale can be found here. In the last quarter, insiders sold 74,272 shares of company stock valued at $2,823,015. 1.53% of the stock is owned by insiders.

Rambus stock down 0.2%

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RMBS stock opened Friday at $37.30. The company has a market cap of $4.01 billion, a P/E ratio of -162.17 and a beta of 1.17. Rambus Inc. The 12 Month Low is $20.00 and the 12 Month High is $38.88. The 50-day moving average is trading at $29.17 and the 200-day moving average is at $26.01.

Rambus (NASDAQ: RMBS – Get Rating) last issued its earnings results on Monday, October 31. The semiconductor company reported earnings per share of $0.01 for the quarter, missing analysts’ consensus estimates of $0.41 ($0.40). The firm had revenue of $112.20 Million for the quarter, compared to the consensus estimate of $141.00 Million. Rambus had a positive return on equity of 20.24% and a negative net margin of 5.69%. The company’s revenue was up 38.0% over the same quarter last year. During the same quarter last year, the firm earned $0.29 EPS. As a group, equity research analysts estimate that Rambus Inc. Will earn 1.52 earnings per share for the current financial year.

Wall Street analysts forecast growth

Several analysts commented on RMBS shares recently. Rosenblatt Securities raised its price target on Rambus from $38.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, November 1. Susquehanna raised its price target on Rambus from $33.00 to $36.00 and gave the company a “positive” rating in a research note on Tuesday, November 1. Susquehanna Bancshares raised its price target on Rambus from $33.00 to $36.00 and gave the company a “positive” rating in a research note on Tuesday, November 1. The Street upgraded Rambus from a “C” rating to a “B-” rating in a research report on Tuesday, August 2. Finally, StockNews.com initiated coverage on Rambus in a research report on Wednesday, October 12. He issued a “Buy” rating for the company. One investment analyst has a hold rating on the company and five have a buy rating on the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.80.

Rambus Profile

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Rambus Inc provides semiconductor products in the United States, Taiwan, South Korea, Japan, Europe, Canada, Singapore, China and internationally. The company provides DDR memory interface chips, including DDR5, DDR4 and DDR3 memory interface chips, to module manufacturers and OEMs; Silicon IP which includes interface and security IP solutions that move and protect data in advanced applications; and physical interface and digital controller IP to offer industry-leading, integrated memory and interconnect subsystems.

Further reading

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Institutional Ownership by Quarter for Rambus (NASDAQ: RMBS)

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