Louisiana State Employees Retirement System Makes New Investment in Rambus, Inc. $RMBS

Louisiana State Employees Retirement System acquired a new position in Rambus, Inc. (NASDAQ:RMBS) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 31,200 shares of the semiconductor company’s stock, valued at approximately $2,684,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Invesco Ltd. lifted its holdings in shares of Rambus by 70.6% during the fourth quarter. Invesco Ltd. now owns 4,148,653 shares of the semiconductor company’s stock valued at $381,220,000 after purchasing an additional 1,716,621 shares in the last quarter. Norges Bank bought a new stake in Rambus in the 4th quarter worth about $156,356,000. Alliancebernstein L.P. raised its position in Rambus by 572.7% in the 3rd quarter. Alliancebernstein L.P. now owns 1,822,030 shares of the semiconductor company’s stock worth $189,856,000 after buying an additional 1,551,159 shares during the last quarter. Bank of America Corp DE raised its position in Rambus by 196.0% in the 3rd quarter. Bank of America Corp DE now owns 1,550,665 shares of the semiconductor company’s stock worth $161,579,000 after buying an additional 1,026,776 shares during the last quarter. Finally, Barclays PLC lifted its stake in Rambus by 183.1% during the 3rd quarter. Barclays PLC now owns 894,906 shares of the semiconductor company’s stock valued at $93,249,000 after acquiring an additional 578,839 shares during the period. 88.54% of the stock is owned by institutional investors.

Rambus Price Performance

RMBS opened at $114.73 on Monday. The firm has a market cap of $12.41 billion, a P/E ratio of 54.63 and a beta of 1.84. Rambus, Inc. has a 1-year low of $61.16 and a 1-year high of $174.10. The company has a 50 day simple moving average of $136.54 and a two-hundred day simple moving average of $112.54.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings data on Monday, April 27th. The semiconductor company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.61 by $0.02. Rambus had a net margin of 31.90% and a return on equity of 17.41%. The firm had revenue of $180.19 million for the quarter, compared to the consensus estimate of $179.94 million. Equities analysts anticipate that Rambus, Inc. will post 2.44 earnings per share for the current year.

Insiders Place Their Bets

In other Rambus news, Director Necip Sayiner sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $170.15, for a total transaction of $850,750.00. Following the sale, the director directly owned 18,223 shares of the company’s stock, valued at $3,100,643.45. This trade represents a 21.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Xianzhi Sean Fan sold 37,914 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $151.69, for a total value of $5,751,174.66. Following the completion of the transaction, the executive vice president owned 168,358 shares in the company, valued at $25,538,225.02. The trade was a 18.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 79,850 shares of company stock worth $11,649,796 in the last three months. 0.75% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on RMBS shares. Evercore restated an “outperform” rating and issued a $172.00 target price on shares of Rambus in a report on Tuesday, April 28th. Robert W. Baird lowered shares of Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 target price for the company. in a research note on Tuesday, April 28th. Rosenblatt Securities increased their price target on Rambus from $130.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Jefferies Financial Group raised their price target on Rambus from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Finally, Wells Fargo & Company lifted their price objective on Rambus from $115.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $130.43.

Rambus Company 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.