Rambus, Inc. (RMBS) Position Boosted by BNP Paribas Arbitrage SA
BNP Paribas Arbitrage SA boosted its position in shares of Rambus, Inc. (NASDAQ:RMBS) by 47.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,559 shares of the semiconductor company’s stock after acquiring an additional 17,954 shares during the period. BNP Paribas Arbitrage SA owned 0.05% of Rambus worth $742,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of RMBS. Ameritas Investment Partners Inc. grew its stake in Rambus by 9.2% during the second quarter. Ameritas Investment Partners Inc. now owns 9,734 shares of the semiconductor company’s stock valued at $111,000 after acquiring an additional 822 shares in the last quarter. Shelton Capital Management purchased a new position in Rambus during the second quarter valued at approximately $126,000. Trexquant Investment LP purchased a new position in Rambus during the second quarter valued at approximately $137,000. Petrus Trust Company LTA purchased a new position in Rambus during the second quarter valued at approximately $138,000. Finally, Nine Chapters Capital Management LLC purchased a new position in Rambus during the third quarter valued at approximately $158,000. 77.04% of the stock is owned by institutional investors.
In other Rambus news, SVP Laura Stark sold 4,065 shares of Rambus stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $12.96, for a total transaction of $52,682.40. Following the completion of the sale, the senior vice president now directly owns 207,221 shares in the company, valued at $2,685,584.16. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Penny Herscher sold 6,437 shares of Rambus stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $13.44, for a total transaction of $86,513.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,647 shares of company stock valued at $403,804. 2.00% of the stock is currently owned by company insiders.
RMBS has been the subject of several recent analyst reports. Loop Capital reaffirmed a “buy” rating and set a $16.00 price objective on shares of Rambus in a research note on Tuesday, August 22nd. Zacks Investment Research raised shares of Rambus from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Friday, October 27th. Citigroup boosted their price objective on shares of Rambus from $15.30 to $15.90 and gave the company a “buy” rating in a research note on Wednesday, October 25th. J P Morgan Chase & Co cut shares of Rambus from an “overweight” rating to a “neutral” rating and set a $15.00 price objective for the company. in a research note on Friday, September 22nd. Finally, TheStreet raised shares of Rambus from a “c+” rating to a “b-” rating in a research note on Friday, October 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $15.98.
Shares of Rambus, Inc. (NASDAQ:RMBS) opened at $14.73 on Tuesday. Rambus, Inc. has a 1 year low of $11.30 and a 1 year high of $15.50. The stock has a market cap of $1,620.00, a P/E ratio of 29.70, a price-to-earnings-growth ratio of 2.83 and a beta of 0.74. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.37.
Rambus (NASDAQ:RMBS) last announced its earnings results on Monday, October 23rd. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, beating the 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 business had revenue of $99.10 million during the quarter, compared to analyst estimates of $99.00 million. During the same period in the previous year, the business posted $0.16 earnings per share. Rambus’s revenue for the quarter was up 10.2% on a year-over-year basis. equities research analysts anticipate that Rambus, Inc. will post 0.52 EPS for the current year.
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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