Rambus, Inc. $RMBS Shares Bought by South Dakota Investment Council

South Dakota Investment Council boosted its position in Rambus, Inc. (NASDAQ:RMBS) by 35.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,813 shares of the semiconductor company’s stock after purchasing an additional 10,200 shares during the period. South Dakota Investment Council’s holdings in Rambus were worth $4,044,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Rambus in the second quarter valued at $126,268,000. EdgePoint Investment Group Inc. boosted its position in shares of Rambus by 138.4% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 2,787,327 shares of the semiconductor company’s stock valued at $178,445,000 after purchasing an additional 1,618,133 shares in the last quarter. Rafferty Asset Management LLC acquired a new position in shares of Rambus in the 3rd quarter worth approximately $93,962,000. Westwood Holdings Group Inc. raised its holdings in shares of Rambus by 41.0% in the 2nd quarter. Westwood Holdings Group Inc. now owns 1,737,062 shares of the semiconductor company’s stock worth $111,207,000 after purchasing an additional 504,852 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Rambus by 192.8% in the 2nd quarter. AQR Capital Management LLC now owns 701,746 shares of the semiconductor company’s stock worth $44,926,000 after purchasing an additional 462,116 shares in the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RMBS has been the topic of several recent research reports. Susquehanna decreased their price target on shares of Rambus from $100.00 to $90.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 3rd. Cfra cut Rambus from a “hold” rating to a “moderate sell” rating in a report on Monday, December 15th. Weiss Ratings raised Rambus from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. Rosenblatt Securities reissued a “buy” rating and issued a $130.00 price target on shares of Rambus in a research note on Tuesday, February 3rd. Finally, Zacks Research upgraded Rambus to a “hold” rating in a report on Monday, January 26th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $105.71.

Rambus Price Performance

NASDAQ RMBS opened at $87.59 on Wednesday. The firm has a market capitalization of $9.44 billion, a price-to-earnings ratio of 41.51 and a beta of 1.55. The company has a 50 day simple moving average of $102.60 and a 200-day simple moving average of $97.07. Rambus, Inc. has a 52-week low of $40.12 and a 52-week high of $135.75.

Rambus (NASDAQ:RMBS) last released its quarterly earnings data on Monday, February 2nd. The semiconductor company reported $0.68 earnings per share for the quarter, meeting the consensus estimate of $0.68. Rambus had a net margin of 32.57% and a return on equity of 17.69%. The firm had revenue of $190.24 million for the quarter, compared to analyst estimates of $188.21 million. On average, analysts predict that Rambus, Inc. will post 1.89 EPS for the current year.

Insiders Place Their Bets

In other Rambus news, CFO Desmond Lynch sold 4,273 shares of the company’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $101.53, for a total value of $433,837.69. Following the transaction, the chief financial officer directly owned 63,618 shares of the company’s stock, valued at $6,459,135.54. This represents a 6.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Luc Seraphin sold 39,914 shares of Rambus stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $98.63, for a total value of $3,936,717.82. Following the sale, the chief executive officer owned 331,070 shares of the company’s stock, valued at approximately $32,653,434.10. This represents a 10.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.00% of the company’s stock.

Rambus 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.