United Services Automobile Association Decreases Position in Rambus Inc. (RMBS)

United Services Automobile Association cut its stake in shares of Rambus Inc. (NASDAQ:RMBS) by 96.4% during the 2nd quarter, Holdings Channel reports. The firm owned 16,362 shares of the semiconductor company’s stock after selling 433,000 shares during the period. United Services Automobile Association’s holdings in Rambus were worth $205,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in RMBS. BlackRock Inc. grew its holdings in shares of Rambus by 5.5% during the 2nd quarter. BlackRock Inc. now owns 14,820,822 shares of the semiconductor company’s stock valued at $185,853,000 after purchasing an additional 768,641 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Rambus by 8.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,005,233 shares of the semiconductor company’s stock valued at $62,768,000 after purchasing an additional 399,358 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of Rambus by 1,251.4% during the 2nd quarter. Jane Street Group LLC now owns 193,248 shares of the semiconductor company’s stock valued at $2,423,000 after purchasing an additional 178,948 shares during the last quarter. First Trust Advisors LP bought a new stake in shares of Rambus during the 2nd quarter valued at approximately $1,449,000. Finally, Engineers Gate Manager LP bought a new stake in shares of Rambus during the 2nd quarter valued at approximately $1,123,000. 80.47% of the stock is currently owned by institutional investors.

In other Rambus news, Vice Chairman Charles Kissner sold 5,896 shares of the business’s stock in a transaction that occurred on Tuesday, October 2nd. The shares were sold at an average price of $10.59, for a total transaction of $62,438.64. Following the sale, the insider now directly owns 33,347 shares of the company’s stock, valued at approximately $353,144.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.20% of the company’s stock.

RMBS opened at $8.53 on Tuesday. Rambus Inc. has a fifty-two week low of $8.39 and a fifty-two week high of $15.50. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.49 and a current ratio of 3.53. The company has a market cap of $919.95 million, a price-to-earnings ratio of 18.96, a price-to-earnings-growth ratio of 1.17 and a beta of 0.15.

Rambus (NASDAQ:RMBS) last posted its earnings results on Monday, October 29th. The semiconductor company reported ($0.01) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.23). Rambus had a positive return on equity of 8.45% and a negative net margin of 22.63%. The business had revenue of $59.80 million for the quarter, compared to the consensus estimate of $100.00 million. During the same period in the previous year, the firm earned $0.19 earnings per share. The company’s revenue was down 39.7% compared to the same quarter last year. Equities research analysts forecast that Rambus Inc. will post 0.73 EPS for the current fiscal year.

RMBS has been the topic of several research reports. Zacks Investment Research lowered shares of Rambus from a “buy” rating to a “hold” rating in a report on Wednesday, July 11th. BidaskClub lowered shares of Rambus from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 17th. ValuEngine lowered shares of Rambus from a “hold” rating to a “sell” rating in a report on Tuesday, July 31st. Finally, Roth Capital decreased their price target on shares of Rambus from $18.00 to $13.00 and set a “buy” rating on the stock in a report on Tuesday, October 23rd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $15.60.

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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Institutional Ownership by Quarter for Rambus (NASDAQ:RMBS)

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