BNP Paribas Arbitrage SA lifted its stake in shares of Rambus, Inc. (NASDAQ:RMBS) by 56.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,605 shares of the semiconductor company’s stock after buying an additional 13,557 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Rambus were worth $430,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in RMBS. BlackRock Inc. grew its position in shares of Rambus by 17,759.2% during the first quarter. BlackRock Inc. now owns 14,458,840 shares of the semiconductor company’s stock worth $189,990,000 after buying an additional 14,377,880 shares in the last quarter. Primecap Management Co. CA grew its position in shares of Rambus by 10.1% during the first quarter. Primecap Management Co. CA now owns 9,589,497 shares of the semiconductor company’s stock worth $126,006,000 after buying an additional 881,225 shares in the last quarter. Teachers Advisors LLC grew its position in shares of Rambus by 420.9% during the first quarter. Teachers Advisors LLC now owns 928,813 shares of the semiconductor company’s stock worth $12,205,000 after buying an additional 750,499 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Rambus by 5.5% during the first quarter. Vanguard Group Inc. now owns 9,847,561 shares of the semiconductor company’s stock worth $129,396,000 after buying an additional 513,316 shares in the last quarter. Finally, Piermont Capital Management Inc. grew its position in shares of Rambus by 300.8% during the first quarter. Piermont Capital Management Inc. now owns 329,760 shares of the semiconductor company’s stock worth $4,333,000 after buying an additional 247,480 shares in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.
Rambus, Inc. (NASDAQ RMBS) opened at 13.38 on Friday. The firm has a 50-day moving average of $12.87 and a 200-day moving average of $12.59. Rambus, Inc. has a 12-month low of $11.30 and a 12-month high of $14.39. The firm has a market cap of $1.46 billion, a P/E ratio of 223.00 and a beta of 0.91.
Rambus (NASDAQ:RMBS) last issued its quarterly earnings results on Monday, July 24th. The semiconductor company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. Rambus had a return on equity of 9.28% and a net margin of 1.76%. The company had revenue of $94.70 million during the quarter, compared to analyst estimates of $93.00 million. During the same period in the previous year, the company earned $0.15 earnings per share. The company’s quarterly revenue was up 23.8% compared to the same quarter last year. On average, analysts expect that Rambus, Inc. will post $0.65 EPS for the current year.
In related news, SVP Laura Stark sold 3,491 shares of the company’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $12.90, for a total value of $45,033.90. Following the completion of the transaction, the senior vice president now directly owns 208,474 shares in the company, valued at $2,689,314.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jae Kim sold 42,449 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $12.71, for a total value of $539,526.79. Following the completion of the transaction, the senior vice president now owns 120,126 shares of the company’s stock, valued at $1,526,801.46. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,348 shares of company stock valued at $769,258. Corporate insiders own 2.00% of the company’s stock.
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A number of analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Rambus from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research report on Saturday, July 29th. BidaskClub raised shares of Rambus from a “sell” rating to a “hold” rating in a research report on Friday, July 14th. Jefferies Group LLC reissued a “hold” rating and set a $14.00 price target (up previously from $13.50) on shares of Rambus in a research report on Tuesday, July 25th. Loop Capital reissued a “buy” rating and set a $16.00 price target on shares of Rambus in a research report on Tuesday, August 22nd. Finally, TheStreet downgraded shares of Rambus from a “b-” rating to a “c+” rating in a research report on Friday, June 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $14.63.
Rambus Company Profile
Rambus Inc (Rambus) produces hardware and software technologies. The Company’s segments include Memory and Interface Division (MID), which focuses the design, development, manufacturing through partnerships and licensing of technology and solutions that is related to memory and interfaces; Rambus Security Division (RSD), which focuses on the design, development and licensing of technologies for chip and system security, anti-counterfeiting, smart ticketing and mobile payments; Emerging Solutions Division (ESD), which encompasses its long-term research and development efforts in the area of emerging technologies, and Rambus Lighting Division (RLD), which focuses on the design, development and licensing of technologies for lighting.
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