MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income trimmed its position in Rambus Inc. (NASDAQ:RMBS – Get Rating) by 8.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 441,061 shares of the semiconductor company’s stock after selling 40,130 shares during the period. Rambus makes up approximately 1.6% of MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income’s holdings, making the stock its 9th biggest holding. MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income owned 0.40% of Rambus worth $14,065,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of RMBS. Westwood Holdings Group Inc. acquired a new stake in Rambus during the 4th quarter worth approximately $85,872,000. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Rambus in the first quarter valued at approximately $21,937,000. Goldman Sachs Group Inc. raised its holdings in shares of Rambus by 212.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 896,190 shares of the semiconductor company’s stock valued at $26,340,000 after purchasing an additional 609,340 shares during the last quarter. Great Lakes Advisors LLC acquired a new stake in shares of Rambus in the fourth quarter valued at approximately $11,026,000. Finally, Pacer Advisors Inc. acquired a new stake in shares of Rambus in the first quarter valued at approximately $8,613,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
RMBS has been the subject of several analyst reports. Susquehanna Bancshares reissued a “buy” rating and issued a $33.00 target price on shares of Rambus in a research note on Tuesday, May 3rd. Susquehanna reaffirmed a “buy” rating and set a $33.00 price objective on shares of Rambus in a research report on Tuesday, May 3rd. TheStreet raised shares of Rambus from a “c” rating to a “b-” rating in a research report on Tuesday. StockNews.com raised Rambus from a “hold” rating to a “buy” rating in a report on Thursday, May 19th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Rambus from $30.00 to $32.00 in a report on Tuesday, May 3rd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $32.20.
Rambus Trading Down 0.7 %
Rambus (NASDAQ:RMBS – Get Rating) last released its quarterly earnings results on Monday, August 1st. The semiconductor company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). The firm had revenue of $121.13 million for the quarter, compared to the consensus estimate of $137.20 million. Rambus had a negative net margin of 5.45% and a positive return on equity of 18.24%. The firm’s revenue for the quarter was up 42.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.29 earnings per share. Analysts predict that Rambus Inc. will post 1.41 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Rambus news, Director Charles Kissner sold 9,674 shares of Rambus stock in a transaction dated Monday, May 9th. The shares were sold at an average price of $24.78, for a total value of $239,721.72. Following the sale, the director now owns 18,747 shares of the company’s stock, valued at $464,550.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.53% of the company’s stock.
Rambus Inc provides semiconductor products in the United States, Taiwan, South Korea, Japan, Europe, Canada, Singapore, China, and internationally. The company offers DDR memory interface chips, including DDR5, DDR4 and DDR3 memory interface chips to module manufacturers and OEMs; silicon IP comprising, interface and security IP solutions that move and protect data in advanced applications; and physical interface and digital controller IP to offer industry-leading, integrated memory and interconnect subsystems.
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