MetLife Investment Advisors LLC lifted its holdings in shares of Rambus Inc. (NASDAQ:RMBS) by 56.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 78,408 shares of the semiconductor company’s stock after acquiring an additional 28,443 shares during the quarter. MetLife Investment Advisors LLC owned approximately 0.07% of Rambus worth $855,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in the stock. Bank of America Corp DE raised its holdings in Rambus by 5.8% in the second quarter. Bank of America Corp DE now owns 99,710 shares of the semiconductor company’s stock worth $1,250,000 after purchasing an additional 5,457 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Rambus by 8.2% in the third quarter. Russell Investments Group Ltd. now owns 86,502 shares of the semiconductor company’s stock worth $944,000 after purchasing an additional 6,583 shares in the last quarter. Legal & General Group Plc raised its holdings in Rambus by 3.0% in the second quarter. Legal & General Group Plc now owns 235,662 shares of the semiconductor company’s stock worth $2,991,000 after purchasing an additional 6,830 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Rambus by 152.2% in the third quarter. Pacer Advisors Inc. now owns 17,224 shares of the semiconductor company’s stock worth $188,000 after purchasing an additional 10,395 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Rambus by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 1,483,269 shares of the semiconductor company’s stock worth $18,601,000 after purchasing an additional 12,232 shares in the last quarter. Institutional investors own 76.74% of the company’s stock.
In other news, SVP Jae Kim sold 7,292 shares of the firm’s stock in a transaction on Tuesday, December 4th. The stock was sold at an average price of $8.68, for a total transaction of $63,294.56. Following the completion of the transaction, the senior vice president now directly owns 122,532 shares in the company, valued at $1,063,577.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.20% of the stock is owned by company insiders.
Shares of NASDAQ:RMBS opened at $8.30 on Monday. Rambus Inc. has a 1-year low of $7.17 and a 1-year high of $14.61. The company has a quick ratio of 7.91, a current ratio of 8.02 and a debt-to-equity ratio of 0.18. The firm has a market cap of $896.22 million, a PE ratio of 18.44, a P/E/G ratio of 1.12 and a beta of 0.61.
Rambus (NASDAQ:RMBS) last issued its quarterly earnings results on Monday, October 29th. The semiconductor company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.23). Rambus had a negative net margin of 45.18% and a positive return on equity of 7.78%. The company had revenue of $59.80 million for the quarter, compared to the consensus estimate of $100.00 million. During the same quarter in the previous year, the business earned $0.19 earnings per share. Rambus’s revenue was down 39.7% compared to the same quarter last year. On average, sell-side analysts predict that Rambus Inc. will post 0.75 EPS for the current fiscal year.
RMBS has been the subject of a number of research reports. ValuEngine downgraded Rambus from a “sell” rating to a “strong sell” rating in a report on Monday, October 8th. Roth Capital decreased their price objective on Rambus from $18.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, October 23rd. Deutsche Bank decreased their price objective on Rambus from $16.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, October 30th. Finally, TheStreet downgraded Rambus from a “c-” rating to a “d” rating in a report on Tuesday, October 30th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $14.80.
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Rambus Company Profile
Rambus Inc provides semiconductor products in South Korea and internationally. The company operates through Memory and Interfaces, Security, and Other segments. It focuses on the design, development, and manufacturing through partnerships and licensing of technology and solutions related to memory and interfaces; and design, development, deployment, and licensing of technologies for chip, system and in-field application security, anti-counterfeiting, smart ticketing, and mobile payments.
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