Mirae Asset Global Investments Co. Ltd. Decreases Position in Rambus Inc. (NASDAQ:RMBS)

Mirae Asset Global Investments Co. Ltd. lessened its holdings in Rambus Inc. (NASDAQ:RMBSGet Rating) by 9.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 275,838 shares of the semiconductor company’s stock after selling 27,695 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Rambus were worth $8,796,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in RMBS. Raymond James & Associates purchased a new position in Rambus in the 4th quarter worth $478,000. Teacher Retirement System of Texas raised its position in Rambus by 14.2% in the 4th quarter. Teacher Retirement System of Texas now owns 20,961 shares of the semiconductor company’s stock worth $616,000 after purchasing an additional 2,601 shares during the period. Pictet Asset Management SA purchased a new position in Rambus in the 4th quarter worth $238,000. JPMorgan Chase & Co. raised its position in Rambus by 11.4% in the 4th quarter. JPMorgan Chase & Co. now owns 832,040 shares of the semiconductor company’s stock worth $24,454,000 after purchasing an additional 85,477 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Rambus by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 774,459 shares of the semiconductor company’s stock worth $22,762,000 after acquiring an additional 19,083 shares during the last quarter. Hedge funds and other institutional investors own 86.28% of the company’s stock.

Analysts Set New Price Targets

Separately, TheStreet raised shares of Rambus from a “c” rating to a “b-” rating in a report on Tuesday, August 2nd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $32.20.

Rambus Stock Up 0.0 %

Shares of Rambus stock opened at $25.56 on Wednesday. The firm has a market cap of $2.83 billion, a PE ratio of -121.71 and a beta of 1.20. Rambus Inc. has a 12-month low of $20.00 and a 12-month high of $33.75. The company’s fifty day simple moving average is $25.50 and its two-hundred day simple moving average is $25.54.

Rambus (NASDAQ:RMBSGet Rating) last announced its earnings results on Monday, August 1st. The semiconductor company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). The company had revenue of $121.13 million for the quarter, compared to the consensus estimate of $137.20 million. Rambus had a negative net margin of 5.45% and a positive return on equity of 18.24%. The company’s revenue for the quarter was up 42.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.29 EPS. As a group, sell-side analysts expect that Rambus Inc. will post 1.41 earnings per share for the current fiscal year.

Rambus Company Profile

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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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