MeadowBrook Investment Advisors LLC Takes Position in Rambus Inc. (NASDAQ:RMBS)

MeadowBrook Investment Advisors LLC purchased a new position in Rambus Inc. (NASDAQ:RMBS) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 2,325 shares of the semiconductor company’s stock, valued at approximately $159,000.

Several other institutional investors have also modified their holdings of the business. WCM Investment Management LLC boosted its stake in shares of Rambus by 38.1% during the 4th quarter. WCM Investment Management LLC now owns 227,710 shares of the semiconductor company’s stock valued at $15,621,000 after buying an additional 62,880 shares during the last quarter. Raymond James & Associates raised its stake in shares of Rambus by 156.0% in the 4th quarter. Raymond James & Associates now owns 32,137 shares of the semiconductor company’s stock valued at $2,193,000 after purchasing an additional 19,582 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of Rambus by 1,326.0% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 46,673 shares of the semiconductor company’s stock worth $3,186,000 after purchasing an additional 43,400 shares during the last quarter. Retirement Systems of Alabama acquired a new position in Rambus in the fourth quarter worth about $9,190,000. Finally, Mesirow Institutional Investment Management Inc. increased its holdings 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 valued at $13,426,000 after buying an additional 69,895 shares during the last quarter. Institutional investors and hedge funds own 88.54% of the company’s stock.

Insider Transactions at Rambus

In related news, CEO Luc Seraphin sold 15,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $62.17, for a total transaction of $932,550.00. Following the completion of the sale, the chief executive officer now directly owns 304,755 shares of the company’s stock, valued at $18,946,618.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Rambus news, CFO Desmond Lynch sold 7,837 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $62.18, for a total value of $487,304.66. Following the completion of the transaction, the chief financial officer now directly owns 41,958 shares in the company, valued at $2,608,948.44. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Luc Seraphin sold 15,000 shares of Rambus stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $62.17, for a total transaction of $932,550.00. Following the completion of the transaction, the chief executive officer now directly owns 304,755 shares in the company, valued at $18,946,618.35. The disclosure for this sale can be found here. Insiders have sold 121,084 shares of company stock valued at $7,408,298 in the last quarter. Insiders own 1.00% of the company’s stock.

Rambus Price Performance

Shares of NASDAQ RMBS traded up $0.87 during midday trading on Monday, reaching $56.95. 1,112,310 shares of the company traded hands, compared to its average volume of 1,574,263. The stock has a 50-day moving average price of $59.92 and a 200 day moving average price of $62.46. The company has a market cap of $6.14 billion, a price-to-earnings ratio of 17.15 and a beta of 1.18. Rambus Inc. has a 52 week low of $46.89 and a 52 week 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 the consensus estimate of $0.44 by ($0.14). The firm had revenue of $117.90 million for the quarter, compared to the consensus estimate of $132.00 million. Rambus had a return on equity of 16.99% and a net margin of 78.14%. Rambus’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.35 EPS. As a group, analysts expect that Rambus Inc. will post 1.63 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on RMBS. 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 report on Friday, January 26th. Rosenblatt Securities restated a “buy” rating and set a $85.00 price objective on shares of Rambus in a research note on Wednesday, March 13th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Rambus currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.75.

Rambus Company 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.