AlphaQuest LLC Has $216,000 Holdings in Rambus, Inc. $RMBS

AlphaQuest LLC decreased its holdings in shares of Rambus, Inc. (NASDAQ:RMBS) by 90.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,071 shares of the semiconductor company’s stock after selling 19,986 shares during the quarter. AlphaQuest LLC’s holdings in Rambus were worth $216,000 at the end of the most recent quarter.

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

Rambus Price Performance

Shares of NASDAQ:RMBS opened at $106.99 on Wednesday. Rambus, Inc. has a 1 year low of $40.12 and a 1 year high of $135.75. The business’s 50-day moving average is $102.14 and its 200-day moving average is $94.29. The company has a market capitalization of $11.52 billion, a price-to-earnings ratio of 50.71 and a beta of 1.53.

Rambus (NASDAQ:RMBS) last issued its earnings results on Monday, February 2nd. The semiconductor company reported $0.68 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.68. The business had revenue of $190.24 million during the quarter, compared to the consensus estimate of $188.21 million. Rambus had a return on equity of 17.69% and a net margin of 32.57%. Analysts anticipate that Rambus, Inc. will post 1.89 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Zacks Research raised Rambus to a “hold” rating in a research note on Monday, January 26th. Evercore dropped their price objective on shares of Rambus from $126.00 to $119.00 and set an “outperform” rating for the company in a report on Tuesday, February 3rd. Cfra Research downgraded shares of Rambus from a “hold” rating to a “moderate sell” rating in a research report on Monday, December 15th. Rosenblatt Securities restated a “buy” rating and issued a $130.00 price target on shares of Rambus in a research report on Tuesday, February 3rd. Finally, Jefferies Financial Group raised shares of Rambus to a “strong-buy” rating in a research note on Tuesday, October 28th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Rambus presently has an average rating of “Buy” and a consensus price target of $105.71.

Rambus 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.