22,100 Shares in Rambus Inc. (NASDAQ:RMBS) Bought by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board bought a new stake in Rambus Inc. (NASDAQ:RMBS - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 22,100 shares of the semiconductor company's stock, valued at approximately $1,508,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in Rambus by 2.9% in the 2nd quarter. BlackRock Inc. now owns 18,383,271 shares of the semiconductor company's stock valued at $1,179,655,000 after purchasing an additional 518,961 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Rambus by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 12,586,966 shares of the semiconductor company's stock worth $319,960,000 after acquiring an additional 314,467 shares during the period. State Street Corp lifted its holdings in shares of Rambus by 3.3% during the 3rd quarter. State Street Corp now owns 4,855,801 shares of the semiconductor company's stock worth $123,434,000 after acquiring an additional 155,076 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Rambus by 14.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,794,327 shares of the semiconductor company's stock worth $267,476,000 after acquiring an additional 616,670 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Rambus by 19.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,134,868 shares of the semiconductor company's stock worth $174,893,000 after acquiring an additional 515,657 shares during the period. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Rambus

In other Rambus news, COO Xianzhi Sean Fan sold 2,004 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $55.00, for a total value of $110,220.00. Following the completion of the sale, the chief operating officer now owns 121,229 shares of the company's stock, valued at $6,667,595. The sale 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 firm's 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 owns 304,755 shares of the company's stock, valued at $18,946,618.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Xianzhi Sean Fan sold 2,004 shares of the firm's stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $55.00, for a total transaction of $110,220.00. Following the sale, the chief operating officer now directly owns 121,229 shares of the company's stock, valued at approximately $6,667,595. The disclosure for this sale can be found here. Insiders sold 85,554 shares of company stock valued at $5,264,708 over the last 90 days. 1.00% of the stock is owned by corporate insiders.

Rambus Price Performance

NASDAQ RMBS traded up $0.42 during mid-day trading on Monday, hitting $62.23. The company's stock had a trading volume of 1,234,759 shares, compared to its average volume of 1,666,190. Rambus Inc. has a 52-week low of $43.58 and a 52-week high of $76.38. The stock's fifty day simple moving average is $62.03 and its two-hundred day simple moving average is $62.24. The firm has a market capitalization of $6.76 billion, a P/E ratio of 20.74 and a beta of 1.16.

Rambus (NASDAQ:RMBS - Get Free Report) last issued its quarterly earnings data on Monday, February 5th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.03. Rambus had a net margin of 72.41% and a return on equity of 17.70%. The company had revenue of $136.00 million during the quarter, compared to the consensus estimate of $134.00 million. On average, equities analysts forecast that Rambus Inc. will post 1.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Rosenblatt Securities reiterated a "buy" rating and set a $85.00 price objective on shares of Rambus in a report on Wednesday, March 13th. Wells Fargo & Company raised 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. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Rambus currently has an average rating of "Moderate Buy" and a consensus target price of $73.20.

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.