Calamos Advisors LLC Acquires Shares of 9,342 Rambus, Inc. $RMBS

Calamos Advisors LLC acquired a new stake in Rambus, Inc. (NASDAQ:RMBS) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 9,342 shares of the semiconductor company’s stock, valued at approximately $973,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in RMBS. EdgePoint Investment Group Inc. grew its stake in Rambus by 138.4% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 2,787,327 shares of the semiconductor company’s stock valued at $178,445,000 after acquiring an additional 1,618,133 shares during the period. Geode Capital Management LLC lifted its holdings in Rambus by 1.3% during the second quarter. Geode Capital Management LLC now owns 2,687,691 shares of the semiconductor company’s stock valued at $172,086,000 after purchasing an additional 35,744 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Rambus by 13.2% in the second quarter. Bank of New York Mellon Corp now owns 2,019,504 shares of the semiconductor company’s stock valued at $129,289,000 after purchasing an additional 235,253 shares during the period. Norges Bank purchased a new stake in shares of Rambus during the second quarter worth about $126,268,000. Finally, Westwood Holdings Group Inc. raised its position in shares of Rambus by 41.0% during the 2nd quarter. Westwood Holdings Group Inc. now owns 1,737,062 shares of the semiconductor company’s stock worth $111,207,000 after purchasing an additional 504,852 shares during the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Stock Down 3.0%

Shares of NASDAQ:RMBS opened at $91.89 on Friday. Rambus, Inc. has a 52-week low of $40.12 and a 52-week high of $114.55. The stock has a market cap of $9.89 billion, a P/E ratio of 43.55 and a beta of 1.51. The business has a fifty day moving average of $98.22 and a two-hundred day moving average of $85.61.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings results on Monday, October 27th. The semiconductor company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.18). Rambus had a net margin of 33.72% and a return on equity of 17.73%. The firm had revenue of $178.51 million for the quarter, compared to analyst estimates of $175.60 million. During the same period in the previous year, the firm posted $0.45 EPS. The company’s revenue was up 22.7% compared to the same quarter last year. On average, equities analysts anticipate that Rambus, Inc. will post 1.89 earnings per share for the current year.

Analyst Upgrades and Downgrades

RMBS has been the topic of several research analyst reports. Wells Fargo & Company lifted their price objective on Rambus from $73.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. Rosenblatt Securities restated a “buy” rating and issued a $130.00 target price on shares of Rambus in a research report on Tuesday, October 28th. Evercore ISI lifted their price target on Rambus from $114.00 to $126.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 28th. Susquehanna set a $100.00 price objective on Rambus and gave the company a “neutral” rating in a research note on Monday, October 6th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Rambus in a report on Monday. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $108.14.

Insider Activity

In other news, Director Eric B. Stang sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $111.78, for a total transaction of $447,120.00. Following the completion of the sale, the director owned 20,394 shares in the company, valued at $2,279,641.32. This trade represents a 16.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is owned by corporate insiders.

Rambus Company Profile

Rambus Inc is a technology licensing company specializing in semiconductor and system-level interface solutions. Founded in 1990 by Stanford University researchers Mike Farmwald and Mark Horowitz, Rambus established its headquarters in Sunnyvale, California. The company initially gained prominence by developing high-speed DRAM interface technology and securing a broad patent portfolio covering memory architecture, data signaling and power management innovations.

Today, Rambus licenses its proprietary intellectual property (IP) to semiconductor companies, original equipment manufacturers (OEMs) and system integrators worldwide.