Ameriprise Financial Inc. Cuts Position in Rambus, Inc. (RMBS)

Ameriprise Financial Inc. reduced its stake in Rambus, Inc. (NASDAQ:RMBS) by 3.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 608,432 shares of the semiconductor company’s stock after selling 18,802 shares during the quarter. Ameriprise Financial Inc. owned 0.55% of Rambus worth $8,122,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Pinebridge Investments L.P. lifted its position in Rambus by 1.5% in the 2nd quarter. Pinebridge Investments L.P. now owns 14,720 shares of the semiconductor company’s stock valued at $169,000 after acquiring an additional 219 shares in the last quarter. Arizona State Retirement System lifted its position in Rambus by 0.7% in the 2nd quarter. Arizona State Retirement System now owns 58,300 shares of the semiconductor company’s stock valued at $666,000 after acquiring an additional 400 shares in the last quarter. Amalgamated Bank lifted its position in Rambus by 3.7% in the 2nd quarter. Amalgamated Bank now owns 15,208 shares of the semiconductor company’s stock valued at $174,000 after acquiring an additional 549 shares in the last quarter. Ameritas Investment Partners Inc. lifted its position in Rambus by 9.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,734 shares of the semiconductor company’s stock valued at $111,000 after acquiring an additional 822 shares in the last quarter. Finally, Numeric Investors LLC lifted its position in Rambus by 7.8% in the 2nd quarter. Numeric Investors LLC now owns 24,800 shares of the semiconductor company’s stock valued at $283,000 after acquiring an additional 1,800 shares in the last quarter. 77.01% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have commented on RMBS. Zacks Investment Research raised shares of Rambus from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Friday, October 27th. TheStreet raised shares of Rambus from a “c+” rating to a “b-” rating in a research report on Friday, October 13th. Loop Capital reissued a “buy” rating and set a $19.00 price target (up from $16.00) on shares of Rambus in a research report on Tuesday, October 24th. Citigroup boosted their price target on shares of Rambus from $15.30 to $15.90 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Finally, JPMorgan Chase & Co. cut shares of Rambus from an “overweight” rating to a “neutral” rating and set a $15.00 price target on the stock. in a research report on Friday, September 22nd. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Rambus currently has an average rating of “Buy” and an average price target of $15.98.

In other news, Director Penny Herscher sold 6,437 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $13.44, for a total transaction of $86,513.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director David A. Shrigley sold 5,000 shares of the business’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $14.06, for a total transaction of $70,300.00. Following the transaction, the director now owns 53,045 shares in the company, valued at $745,812.70. The disclosure for this sale can be found here. Insiders have sold a total of 39,944 shares of company stock worth $566,870 over the last three months. Insiders own 2.00% of the company’s stock.

Shares of Rambus, Inc. (RMBS) opened at $14.31 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.37. Rambus, Inc. has a 52-week low of $11.30 and a 52-week high of $15.50. The company has a market cap of $1,560.00, a PE ratio of 159.00, a price-to-earnings-growth ratio of 2.74 and a beta of 0.74.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings results on Monday, October 23rd. The semiconductor company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.17 by $0.02. Rambus had a net margin of 2.54% and a return on equity of 9.79%. The firm had revenue of $99.10 million for the quarter, compared to analysts’ expectations of $99.00 million. During the same period in the previous year, the firm posted $0.16 EPS. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. sell-side analysts anticipate that Rambus, Inc. will post 0.52 earnings per share for the current fiscal year.

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Rambus Profile

Rambus Inc (Rambus) produces hardware and software technologies. The Company’s segments include Memory and Interface Division (MID), which focuses the design, development, manufacturing through partnerships and licensing of technology and solutions that is related to memory and interfaces; Rambus Security Division (RSD), which focuses on the design, development and licensing of technologies for chip and system security, anti-counterfeiting, smart ticketing and mobile payments; Emerging Solutions Division (ESD), which encompasses its long-term research and development efforts in the area of emerging technologies, and Rambus Lighting Division (RLD), which focuses on the design, development and licensing of technologies for lighting.

Institutional Ownership by Quarter for Rambus (NASDAQ:RMBS)

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