Alambic Investment Management L.P. reduced its stake in Rambus Inc. (NASDAQ:RMBS) by 35.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,894 shares of the semiconductor company’s stock after selling 8,600 shares during the quarter. Alambic Investment Management L.P.’s holdings in Rambus were worth $176,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Texas Permanent School Fund boosted its holdings in shares of Rambus by 0.8% during the fourth quarter. Texas Permanent School Fund now owns 76,262 shares of the semiconductor company’s stock worth $1,051,000 after acquiring an additional 625 shares during the period. Comerica Bank boosted its stake in shares of Rambus by 0.7% in the fourth quarter. Comerica Bank now owns 105,224 shares of the semiconductor company’s stock valued at $1,700,000 after buying an additional 781 shares during the period. Municipal Employees Retirement System of Michigan grew its position in Rambus by 2.6% during the fourth quarter. Municipal Employees Retirement System of Michigan now owns 34,010 shares of the semiconductor company’s stock worth $468,000 after buying an additional 860 shares in the last quarter. Oppenheimer Asset Management Inc. increased its stake in Rambus by 16.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 6,347 shares of the semiconductor company’s stock worth $70,000 after acquiring an additional 918 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in Rambus by 108.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,880 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 980 shares during the period. 79.65% of the stock is currently owned by hedge funds and other institutional investors.
Rambus stock traded up $0.24 during midday trading on Friday, reaching $15.65. The company’s stock had a trading volume of 426,766 shares, compared to its average volume of 905,094. Rambus Inc. has a 52 week low of $9.01 and a 52 week high of $16.98. The company has a current ratio of 8.48, a quick ratio of 8.35 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average price of $13.05 and a 200-day moving average price of $13.56. The stock has a market cap of $1.75 billion, a PE ratio of -24.08, a price-to-earnings-growth ratio of 1.25 and a beta of 0.93.
Rambus (NASDAQ:RMBS) last posted its quarterly earnings results on Monday, May 4th. The semiconductor company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.30). The company had revenue of $63.99 million during the quarter, compared to analyst estimates of $72.50 million. Rambus had a negative net margin of 29.97% and a negative return on equity of 2.53%. The company’s revenue for the quarter was up 32.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.23 earnings per share. As a group, research analysts predict that Rambus Inc. will post 0.82 EPS for the current fiscal year.
Several research firms have recently issued reports on RMBS. Deutsche Bank increased their target price on Rambus from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. BidaskClub upgraded shares of Rambus from a “sell” rating to a “hold” rating in a research note on Wednesday, May 6th. Zacks Investment Research raised shares of Rambus from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Saturday, May 9th. Roth Capital reaffirmed a “buy” rating on shares of Rambus in a report on Tuesday, May 5th. Finally, Citigroup increased their price target on shares of Rambus from $16.00 to $17.30 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Rambus has a consensus rating of “Buy” and an average target price of $17.06.
In other news, CEO Luc Seraphin sold 15,733 shares of the company’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $9.77, for a total transaction of $153,711.41. Following the completion of the transaction, the chief executive officer now directly owns 206,217 shares in the company, valued at $2,014,740.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles Kissner sold 4,129 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $12.05, for a total value of $49,754.45. Following the completion of the transaction, the director now owns 13,927 shares of the company’s stock, valued at $167,820.35. The disclosure for this sale can be found here. In the last three months, insiders sold 24,945 shares of company stock valued at $274,767. 1.10% of the stock is owned by insiders.
Rambus Inc provides semiconductor products in the United States, Japan, Europe, Taiwan, China, South Korea, Canada, Singapore, Asia, and internationally. The company operates through three divisions: Memory and Interfaces, Rambus Security, and Emerging Solutions. The Memory and Interfaces division engages in the design, development, and manufacturing through partnerships and licensing of technology and solutions related to memory and interfaces.
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