Illinois Municipal Retirement Fund Decreases Stake in Rambus Inc. (NASDAQ:RMBS)

Illinois Municipal Retirement Fund lowered its position in Rambus Inc. (NASDAQ:RMBS) by 86.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,104 shares of the semiconductor company’s stock after selling 61,813 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Rambus were worth $690,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. WCM Investment Management LLC lifted its stake in Rambus by 38.1% in the fourth quarter. WCM Investment Management LLC now owns 227,710 shares of the semiconductor company’s stock worth $15,621,000 after acquiring an additional 62,880 shares during the last quarter. Raymond James & Associates lifted its stake in Rambus by 156.0% in the fourth quarter. Raymond James & Associates now owns 32,137 shares of the semiconductor company’s stock worth $2,193,000 after acquiring an additional 19,582 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in Rambus by 1,326.0% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 46,673 shares of the semiconductor company’s stock worth $3,186,000 after acquiring an additional 43,400 shares during the last quarter. Mesirow Institutional Investment Management Inc. lifted its stake in Rambus by 40.9% in the third quarter. Mesirow Institutional Investment Management Inc. now owns 240,656 shares of the semiconductor company’s stock worth $13,426,000 after acquiring an additional 69,895 shares during the last quarter. Finally, Diversified Trust Co lifted its position in shares of Rambus by 3.1% during the 4th quarter. Diversified Trust Co now owns 21,549 shares of the semiconductor company’s stock worth $1,471,000 after buying an additional 643 shares during the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Price Performance

Shares of Rambus stock opened at $60.48 on Tuesday. The firm’s fifty day simple moving average is $60.07 and its 200-day simple moving average is $62.57. The stock has a market capitalization of $6.57 billion, a price-to-earnings ratio of 20.16 and a beta of 1.16. Rambus Inc. has a 12 month low of $44.45 and a 12 month high of $76.38.

Rambus (NASDAQ:RMBS) last announced its earnings results on Monday, April 29th. The semiconductor company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.14). The business had revenue of $117.90 million during the quarter, compared to analyst estimates of $132.00 million. Rambus had a net margin of 72.41% and a return on equity of 17.70%. The business’s revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.35 earnings per share. Analysts anticipate that Rambus Inc. will post 1.63 earnings per share for the current year.

Insider Buying and Selling at Rambus

In other Rambus news, CEO Luc Seraphin sold 15,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $62.17, for a total value of $932,550.00. Following the transaction, the chief executive officer now directly owns 304,755 shares of the company’s stock, valued at approximately $18,946,618.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Rambus news, CEO Luc Seraphin sold 15,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $62.17, for a total value of $932,550.00. Following the transaction, the chief executive officer now directly owns 304,755 shares of the company’s stock, valued at approximately $18,946,618.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Xianzhi Sean Fan sold 2,004 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $55.00, for a total transaction of $110,220.00. Following the transaction, the chief operating officer now directly owns 121,229 shares in the company, valued at $6,667,595. The disclosure for this sale can be found here. In the last three months, insiders have sold 121,084 shares of company stock valued at $7,408,298. 1.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on RMBS shares. Rosenblatt Securities restated a “buy” rating and set a $85.00 price objective on shares of Rambus in a research report on Wednesday, March 13th. Wells Fargo & Company boosted their price objective on shares of Rambus from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.75.

About Rambus

Rambus Inc provides semiconductor products in the United States, South Korea, Singapore, and internationally. The company offers DDR memory interface chips, including DDR5 and DDR4 memory interface chips to module manufacturers, OEMs, and hyperscalers; silicon IP, such as interface and security IP solutions that move and protect data in advanced data center, government, and automotive applications; and interface IP solutions for high-speed memory and chip-to-chip digital controller IP.