Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Rambus Inc. (NASDAQ:RMBS – Get Rating) by 1.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,700 shares of the semiconductor company’s stock after acquiring an additional 462 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Rambus were worth $531,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in RMBS. Mutual of America Capital Management LLC boosted its stake in Rambus by 5.5% in the 1st quarter. Mutual of America Capital Management LLC now owns 15,759 shares of the semiconductor company’s stock worth $503,000 after purchasing an additional 817 shares during the period. Vaughan Nelson Investment Management L.P. bought a new position in Rambus in the 1st quarter worth approximately $21,937,000. Envestnet Asset Management Inc. boosted its stake in Rambus by 17.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 32,191 shares of the semiconductor company’s stock worth $1,027,000 after purchasing an additional 4,670 shares during the period. Victory Capital Management Inc. boosted its stake in Rambus by 46.7% in the 1st quarter. Victory Capital Management Inc. now owns 73,355 shares of the semiconductor company’s stock worth $1,827,000 after purchasing an additional 23,340 shares during the period. Finally, Stephens Inc. AR raised its holdings in shares of Rambus by 130.7% during the 1st quarter. Stephens Inc. AR now owns 125,642 shares of the semiconductor company’s stock worth $4,007,000 after acquiring an additional 71,192 shares in the last quarter. 86.28% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
RMBS has been the topic of several recent research reports. Susquehanna Bancshares upped their price objective on Rambus from $33.00 to $36.00 and gave the stock a “positive” rating in a report on Tuesday, November 1st. Deutsche Bank Aktiengesellschaft increased their price target on Rambus from $32.00 to $34.00 and gave the company a “buy” rating in a report on Tuesday, November 1st. Susquehanna increased their price target on Rambus from $33.00 to $36.00 and gave the company a “positive” rating in a report on Tuesday, November 1st. TheStreet upgraded Rambus from a “c” rating to a “b-” rating in a report on Tuesday, August 2nd. Finally, Rosenblatt Securities increased their target price on Rambus from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, November 1st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $35.80.
Insider Buying and Selling at Rambus
Rambus Trading Down 1.7 %
Shares of RMBS stock opened at $36.98 on Tuesday. The stock has a 50 day moving average of $29.63 and a 200 day moving average of $26.17. The stock has a market cap of $3.97 billion, a P/E ratio of -160.78 and a beta of 1.17. Rambus Inc. has a twelve month low of $20.00 and a twelve month high of $38.88.
Rambus (NASDAQ:RMBS – Get Rating) last issued its quarterly earnings data on Monday, October 31st. The semiconductor company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.40). The business had revenue of $112.20 million during the quarter, compared to analyst estimates of $141.00 million. Rambus had a negative net margin of 5.69% and a positive return on equity of 20.24%. The firm’s revenue for the quarter was up 38.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.29 earnings per share. On average, research analysts predict that Rambus Inc. will post 1.52 earnings per share for the current fiscal year.
Rambus Company Profile
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.
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