MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income Lowers Holdings in Rambus Inc. (NASDAQ:RMBS)

MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income lowered its stake in shares of Rambus Inc. (NASDAQ:RMBSGet Rating) by 8.3% during the 1st quarter, Holdings Channel.com reports. The fund owned 441,061 shares of the semiconductor company’s stock after selling 40,130 shares during the quarter. Rambus makes up approximately 1.6% of MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income’s portfolio, making the stock its 9th largest holding. MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income’s holdings in Rambus were worth $14,065,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Confluence Wealth Services Inc. purchased a new stake in Rambus in the 4th quarter worth approximately $41,000. Catalyst Capital Advisors LLC purchased a new stake in Rambus during the 4th quarter valued at approximately $46,000. Counterpoint Mutual Funds LLC purchased a new stake in Rambus during the 1st quarter valued at approximately $65,000. CarsonAllaria Wealth Management Ltd. purchased a new stake in Rambus during the 4th quarter valued at approximately $79,000. Finally, FNY Investment Advisers LLC purchased a new stake in Rambus during the 1st quarter valued at approximately $86,000. Institutional investors own 86.99% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. StockNews.com raised shares of Rambus from a “hold” rating to a “buy” rating in a report on Thursday, May 19th. TheStreet raised shares of Rambus from a “c” rating to a “b-” rating in a report on Tuesday. Susquehanna Bancshares reissued a “buy” rating and issued a $33.00 target price on shares of Rambus in a report on Tuesday, May 3rd. Deutsche Bank Aktiengesellschaft raised their target price on shares of Rambus from $30.00 to $32.00 in a report on Tuesday, May 3rd. Finally, Susquehanna reissued a “buy” rating and issued a $33.00 target price on shares of Rambus in a report on Tuesday, May 3rd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.20.

Insider Buying and Selling at Rambus

In other Rambus news, Director Charles Kissner sold 9,674 shares of Rambus stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $24.78, for a total value of $239,721.72. Following the transaction, the director now directly owns 18,747 shares in the company, valued at approximately $464,550.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.53% of the stock is owned by corporate insiders.

Rambus Price Performance

NASDAQ:RMBS traded down $0.19 during trading hours on Friday, reaching $26.88. The company had a trading volume of 513,124 shares, compared to its average volume of 537,948. Rambus Inc. has a 1-year low of $20.00 and a 1-year high of $33.75. The firm has a market cap of $2.96 billion, a PE ratio of -127.99 and a beta of 1.22. The business’s 50 day moving average price is $23.13 and its 200-day moving average price is $25.53.

Rambus (NASDAQ:RMBSGet Rating) last issued its earnings results on Monday, August 1st. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.05). The company had revenue of $121.13 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 42.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.29 earnings per share. On average, analysts expect that Rambus Inc. will post 1.41 earnings per share for the current fiscal year.

Rambus Company Profile

(Get Rating)

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.

See Also

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Institutional Ownership by Quarter for Rambus (NASDAQ:RMBS)

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