Ameritas Investment Partners Inc. Cuts Position in Rambus Inc. (NASDAQ:RMBS)

Ameritas Investment Partners Inc. cut its stake in Rambus Inc. (NASDAQ:RMBS) by 0.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 34,489 shares of the semiconductor company’s stock after selling 294 shares during the period. Ameritas Investment Partners Inc.’s holdings in Rambus were worth $2,132,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Covestor Ltd grew its position in Rambus by 33.9% in the first quarter. Covestor Ltd now owns 2,989 shares of the semiconductor company’s stock worth $185,000 after acquiring an additional 757 shares in the last quarter. Cynosure Group LLC purchased a new position in Rambus in the first quarter worth $296,000. Hillsdale Investment Management Inc. boosted its position in Rambus by 80,775.0% during the first quarter. Hillsdale Investment Management Inc. now owns 64,700 shares of the semiconductor company’s stock valued at $3,999,000 after buying an additional 64,620 shares during the period. Vanguard Group Inc. boosted its position in Rambus by 2.4% during the first quarter. Vanguard Group Inc. now owns 11,651,114 shares of the semiconductor company’s stock valued at $720,155,000 after buying an additional 275,160 shares during the period. Finally, Westfield Capital Management Co. LP purchased a new stake in Rambus during the first quarter valued at about $20,277,000. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Rambus

In related news, Director Eric B. Stang sold 5,408 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $56.95, for a total value of $307,985.60. Following the completion of the transaction, the director now directly owns 32,422 shares of the company’s stock, valued at $1,846,432.90. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, Jefferies Financial Group restated a “buy” rating and set a $75.00 price target (up from $72.00) on shares of Rambus in a research report on Monday, May 13th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Rambus currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.67.

Rambus Stock Down 0.1 %

Shares of Rambus stock traded down $0.08 during trading on Tuesday, reaching $63.19. 1,013,342 shares of the stock were exchanged, compared to its average volume of 1,440,027. The stock’s fifty day moving average is $58.34 and its 200 day moving average is $60.30. The firm has a market cap of $6.81 billion, a price-to-earnings ratio of 19.35 and a beta of 1.20. Rambus Inc. has a 1 year low of $48.13 and a 1 year high of $76.38.

Rambus (NASDAQ:RMBS) last posted its earnings results on Monday, April 29th. The semiconductor company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The company had revenue of $133.60 million during the quarter, compared to analyst estimates of $132.00 million. Rambus had a net margin of 78.14% and a return on equity of 16.99%. Equities analysts forecast that Rambus Inc. will post 1.36 earnings per share for the current year.

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.