Rambus Inc. (NASDAQ:RMBS) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado cut its holdings in shares of Rambus Inc. (NASDAQ:RMBS) by 5.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 11,218 shares of the semiconductor company’s stock after selling 657 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Rambus were worth $659,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in RMBS. Rise Advisors LLC acquired a new position in Rambus during the 1st quarter worth $28,000. Fifth Third Bancorp lifted its holdings in Rambus by 68.7% in the second quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 296 shares during the period. Blue Trust Inc. lifted its holdings in Rambus by 240.6% in the second quarter. Blue Trust Inc. now owns 1,141 shares of the semiconductor company’s stock worth $71,000 after purchasing an additional 806 shares during the period. Fidelis Capital Partners LLC bought a new position in Rambus in the 1st quarter valued at about $90,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in Rambus during the 2nd quarter valued at about $87,000. 88.54% of the stock is owned by institutional investors.

Rambus Price Performance

NASDAQ RMBS opened at $38.34 on Thursday. The company has a market capitalization of $4.13 billion, a P/E ratio of 11.72 and a beta of 1.19. Rambus Inc. has a 12 month low of $37.42 and a 12 month high of $76.38. The company’s 50 day simple moving average is $45.29 and its 200 day simple moving average is $53.99.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings data on Monday, July 29th. The semiconductor company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.12). The company had revenue of $132.10 million for the quarter, compared to analyst estimates of $139.00 million. Rambus had a net margin of 48.31% and a return on equity of 16.74%. Rambus’s revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the company posted $0.36 EPS. On average, analysts anticipate that Rambus Inc. will post 1.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

RMBS has been the subject of several recent analyst reports. Susquehanna decreased their price objective on shares of Rambus from $75.00 to $66.00 and set a “positive” rating for the company in a report on Friday, July 26th. Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 price target on shares of Rambus in a research note on Tuesday, September 10th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $77.75.

Rambus 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.