IndexIQ Advisors LLC trimmed its position in shares of Rambus Inc. (NASDAQ:RMBS) by 24.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,620 shares of the semiconductor company’s stock after selling 24,637 shares during the period. IndexIQ Advisors LLC owned approximately 0.07% of Rambus worth $1,069,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. California Public Employees Retirement System lifted its stake in Rambus by 37.3% during the third quarter. California Public Employees Retirement System now owns 228,947 shares of the semiconductor company’s stock worth $3,005,000 after purchasing an additional 62,251 shares in the last quarter. Carroll Financial Associates Inc. acquired a new position in Rambus during the fourth quarter worth $38,000. Rhumbline Advisers lifted its stake in Rambus by 7.4% during the third quarter. Rhumbline Advisers now owns 357,672 shares of the semiconductor company’s stock worth $4,694,000 after purchasing an additional 24,615 shares in the last quarter. California State Teachers Retirement System lifted its stake in Rambus by 2.5% during the third quarter. California State Teachers Retirement System now owns 174,306 shares of the semiconductor company’s stock worth $2,288,000 after purchasing an additional 4,249 shares in the last quarter. Finally, Stifel Financial Corp lifted its stake in Rambus by 1.0% during the third quarter. Stifel Financial Corp now owns 173,698 shares of the semiconductor company’s stock worth $2,279,000 after purchasing an additional 1,786 shares in the last quarter. Institutional investors own 80.07% of the company’s stock.
A number of research analysts have commented on the company. Citigroup upped their price target on Rambus from $16.00 to $17.30 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Zacks Investment Research upgraded Rambus from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Saturday, February 1st. BidaskClub upgraded Rambus from a “hold” rating to a “buy” rating in a research note on Friday, January 31st. Finally, Roth Capital reiterated a “buy” rating and issued a $18.00 price objective on shares of Rambus in a research note on Tuesday, January 28th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $16.66.
Rambus (NASDAQ:RMBS) last announced its quarterly earnings data on Monday, January 27th. The semiconductor company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.34). The company had revenue of $104.30 million during the quarter, compared to analyst estimates of $98.03 million. Rambus had a negative net margin of 40.36% and a negative return on equity of 3.26%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.28 earnings per share. On average, equities analysts forecast that Rambus Inc. will post 0.79 EPS for the current fiscal year.
In other news, CEO Luc Seraphin sold 3,746 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $12.69, for a total value of $47,536.74. Following the sale, the chief executive officer now directly owns 188,862 shares in the company, valued at $2,396,658.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Jae Kim sold 7,292 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $12.76, for a total value of $93,045.92. Following the completion of the sale, the senior vice president now owns 127,873 shares in the company, valued at $1,631,659.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,747 shares of company stock worth $490,742. Insiders own 1.00% of the company’s stock.
Rambus Company Profile
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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