Mutual of America Capital Management LLC Purchases 44,792 Shares of Rambus Inc. (NASDAQ:RMBS)

Mutual of America Capital Management LLC increased its position in shares of Rambus Inc. (NASDAQ:RMBS) by 57.9% during the 4th quarter, Holdings Channel reports. The firm owned 122,148 shares of the semiconductor company’s stock after acquiring an additional 44,792 shares during the period. Mutual of America Capital Management LLC’s holdings in Rambus were worth $8,337,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of RMBS. BlackRock Inc. increased its holdings in Rambus by 1.7% in the 1st quarter. BlackRock Inc. now owns 17,864,310 shares of the semiconductor company’s stock valued at $915,725,000 after acquiring an additional 295,147 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Rambus by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 12,586,966 shares of the semiconductor company’s stock worth $319,960,000 after purchasing an additional 314,467 shares during the period. State Street Corp boosted its stake in shares of Rambus by 3.3% during the 3rd quarter. State Street Corp now owns 4,855,801 shares of the semiconductor company’s stock worth $123,434,000 after purchasing an additional 155,076 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Rambus by 14.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,794,327 shares of the semiconductor company’s stock worth $267,476,000 after purchasing an additional 616,670 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in shares of Rambus by 19.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,134,868 shares of the semiconductor company’s stock worth $174,893,000 after purchasing an additional 515,657 shares during the period. 88.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RMBS has been the subject of several research reports. Wells Fargo & Company boosted their price objective on shares of Rambus from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Rosenblatt Securities reissued a “buy” rating and issued a $85.00 price objective on shares of Rambus in a research report on Wednesday, March 13th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $73.20.

Insider Activity at Rambus

In related news, CEO Luc Seraphin sold 15,000 shares of the stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $61.35, for a total transaction of $920,250.00. Following the completion of the sale, the chief executive officer now owns 268,321 shares of the company’s stock, valued at $16,461,493.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Rambus news, SVP John Shinn sold 3,928 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $64.93, for a total value of $255,045.04. Following the completion of the transaction, the senior vice president now owns 28,448 shares of the company’s stock, valued at $1,847,128.64. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Luc Seraphin sold 15,000 shares of the firm’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $61.35, for a total transaction of $920,250.00. Following the completion of the transaction, the chief executive officer now directly owns 268,321 shares of the company’s stock, valued at approximately $16,461,493.35. The disclosure for this sale can be found here. Insiders sold 115,554 shares of company stock valued at $7,083,908 over the last 90 days. Insiders own 1.00% of the company’s stock.

Rambus Stock Performance

NASDAQ:RMBS opened at $62.33 on Friday. Rambus Inc. has a one year low of $43.58 and a one year high of $76.38. The firm has a market cap of $6.77 billion, a P/E ratio of 20.78 and a beta of 1.16. The firm has a 50-day simple moving average of $60.35 and a 200-day simple moving average of $62.44.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings results on Monday, February 5th. The semiconductor company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.37 by $0.03. Rambus had a net margin of 72.41% and a return on equity of 17.70%. The business had revenue of $136.00 million during the quarter, compared to analyst estimates of $134.00 million. On average, research analysts predict that Rambus Inc. will post 1.63 EPS for the current fiscal year.

About Rambus

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.