California Public Employees Retirement System Raises Position in Rambus, Inc. (RMBS)
California Public Employees Retirement System boosted its holdings in shares of Rambus, Inc. (NASDAQ:RMBS) by 3.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 197,600 shares of the semiconductor company’s stock after buying an additional 7,200 shares during the quarter. California Public Employees Retirement System owned approximately 0.18% of Rambus worth $2,259,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Trexquant Investment LP purchased a new position in Rambus during the second quarter valued at approximately $137,000. Hanson & Doremus Investment Management purchased a new position in Rambus during the second quarter valued at approximately $155,000. Pinebridge Investments L.P. increased its holdings in Rambus by 1.5% during the second quarter. Pinebridge Investments L.P. now owns 14,720 shares of the semiconductor company’s stock valued at $169,000 after buying an additional 219 shares during the period. Amalgamated Bank increased its holdings in Rambus by 3.7% during the second quarter. Amalgamated Bank now owns 15,208 shares of the semiconductor company’s stock valued at $174,000 after buying an additional 549 shares during the period. Finally, FNY Partners Fund LP purchased a new position in Rambus during the second quarter valued at approximately $228,000. 76.39% of the stock is currently owned by institutional investors.
In related news, Director David A. Shrigley sold 5,000 shares of the stock in a transaction on Monday, October 30th. The shares were sold at an average price of $14.06, for a total value of $70,300.00. Following the transaction, the director now directly owns 53,045 shares of the company’s stock, valued at approximately $745,812.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Laura Stark sold 3,069 shares of the stock in a transaction on Wednesday, October 11th. The shares were sold at an average price of $13.65, for a total transaction of $41,891.85. The disclosure for this sale can be found here. Over the last three months, insiders sold 72,799 shares of company stock worth $946,631. Insiders own 2.00% of the company’s stock.
Shares of Rambus, Inc. (RMBS) opened at 14.71 on Wednesday. The firm has a market capitalization of $1.61 billion, a P/E ratio of 245.17 and a beta of 0.82. The firm has a 50-day moving average of $13.62 and a 200 day moving average of $12.76. Rambus, Inc. has a 52 week low of $11.30 and a 52 week high of $14.77.
Rambus (NASDAQ:RMBS) last announced its quarterly earnings data on Monday, October 23rd. The semiconductor company reported $0.19 EPS for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.02. Rambus had a net margin of 2.54% and a return on equity of 9.79%. The company had revenue of $99.10 million for the quarter, compared to the consensus estimate of $99.00 million. During the same period in the prior year, the firm posted $0.16 EPS. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities research analysts expect that Rambus, Inc. will post $0.69 EPS for the current fiscal year.
RMBS has been the topic of several research reports. TheStreet raised shares of Rambus from a “c+” rating to a “b-” rating in a report on Friday, October 13th. Loop Capital reissued a “buy” rating and set a $19.00 price objective (up from $16.00) on shares of Rambus in a report on Tuesday, October 24th. Zacks Investment Research raised shares of Rambus from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Saturday, July 29th. Citigroup Inc. lifted their price objective on shares of Rambus from $15.30 to $15.90 and gave the company a “buy” rating in a report on Wednesday, October 25th. Finally, BidaskClub raised shares of Rambus from a “sell” rating to a “hold” rating in a report on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $15.98.
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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