Securian Asset Management Inc. Purchases New Position in Rambus Inc. (NASDAQ:RMBS)

Securian Asset Management Inc. purchased a new stake in Rambus Inc. (NASDAQ:RMBS) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 9,072 shares of the semiconductor company’s stock, valued at approximately $619,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Rambus by 48.5% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 8,092 shares of the semiconductor company’s stock valued at $451,000 after buying an additional 2,642 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Rambus by 8.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 13,507 shares of the semiconductor company’s stock valued at $754,000 after buying an additional 1,059 shares during the last quarter. California Public Employees Retirement System raised its holdings in shares of Rambus by 32.1% in the third quarter. California Public Employees Retirement System now owns 215,853 shares of the semiconductor company’s stock valued at $12,042,000 after buying an additional 52,445 shares during the last quarter. Syon Capital LLC acquired a new position in shares of Rambus during the third quarter worth about $366,000. Finally, NBC Securities Inc. acquired a new position in shares of Rambus during the third quarter worth about $72,000. 88.54% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Rambus news, Director Eric B. Stang sold 5,408 shares of Rambus stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $56.95, for a total value of $307,985.60. Following the completion of the sale, the director now directly owns 32,422 shares of the company’s stock, valued at approximately $1,846,432.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Luc Seraphin sold 15,000 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $58.35, for a total transaction of $875,250.00. Following the completion of the sale, the chief executive officer now directly owns 274,755 shares of the company’s stock, valued at approximately $16,031,954.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eric B. Stang sold 5,408 shares of Rambus stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $56.95, for a total transaction of $307,985.60. Following the transaction, the director now owns 32,422 shares in the company, valued at approximately $1,846,432.90. The disclosure for this sale can be found here. In the last three months, insiders sold 124,488 shares of company stock valued at $7,606,063. Company insiders own 1.00% of the company’s stock.

Rambus Price Performance

Shares of RMBS opened at $59.30 on Thursday. The firm has a 50 day simple moving average of $58.89 and a 200-day simple moving average of $62.77. Rambus Inc. has a 1-year low of $48.13 and a 1-year high of $76.38. The stock has a market cap of $6.39 billion, a price-to-earnings ratio of 18.13 and a beta of 1.18.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings data on Monday, April 29th. The semiconductor company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Rambus had a net margin of 78.14% and a return on equity of 16.99%. The business had revenue of $133.60 million during the quarter, compared to analysts’ expectations of $132.00 million. On average, equities analysts expect that Rambus Inc. will post 1.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Jefferies Financial Group restated a “buy” rating and issued a $75.00 price objective (up previously from $72.00) on shares of Rambus in a research report on Monday, May 13th. Wells Fargo & Company lifted their price target on shares of Rambus from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $85.00 price target on shares of Rambus in a research report on Wednesday, March 13th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $80.00.

Rambus Profile

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.