Engineers Gate Manager LP Takes Position in Rambus, Inc. $RMBS

Engineers Gate Manager LP acquired a new position in shares of Rambus, Inc. (NASDAQ:RMBS – Free Report) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 35,888 shares of the semiconductor company’s stock, valued at approximately $4,764,000.

A number of other institutional investors and hedge funds have also bought and sold shares of RMBS. California State Teachers Retirement System raised its position in Rambus by 13,305.0% in the second quarter. California State Teachers Retirement System now owns 16,648,384 shares of the semiconductor company’s stock valued at $2,209,906,000 after purchasing an additional 16,524,189 shares during the last quarter. BlackRock Inc. acquired a new position in shares of Rambus in the second quarter valued at approximately $1,853,645,000. Price T Rowe Associates Inc. MD raised its holdings in Rambus by 2.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,385,570 shares of the semiconductor company’s stock valued at $494,881,000 after buying an additional 140,226 shares during the last quarter. Invesco Ltd. raised its holdings in Rambus by 70.6% in the 4th quarter. Invesco Ltd. now owns 4,148,653 shares of the semiconductor company’s stock valued at $381,220,000 after buying an additional 1,716,621 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Rambus by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 2,842,715 shares of the semiconductor company’s stock worth $261,256,000 after buying an additional 94,214 shares during the period. Institutional investors and hedge funds own 88.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Rambus in a report on Wednesday, September 2nd. Glj Research set a $165.00 price target on shares of Rambus in a research note on Tuesday, July 28th. Rosenblatt Securities reiterated a “buy” rating and set a $165.00 price target on shares of Rambus in a report on Tuesday, July 28th. Finally, Benchmark reissued a “buy” rating on shares of Rambus in a research note on Tuesday, July 28th. Six research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Rambus has an average rating of “Moderate Buy” and a consensus target price of $145.88.

Read Our Latest Stock Report on Rambus

Rambus Price Performance

Shares of RMBS stock opened at $86.97 on Friday. The stock has a market capitalization of $9.43 billion, a PE ratio of 39.89 and a beta of 1.88. The business’s 50 day simple moving average is $95.59 and its 200 day simple moving average is $110.84. Rambus, Inc. has a one year low of $77.89 and a one year high of $174.10.

Rambus (NASDAQ:RMBS – Get Free Report) last released its quarterly earnings results on Monday, July 27th. The semiconductor company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.05. The firm had revenue of $207.39 million during the quarter, compared to analyst estimates of $199.30 million. Rambus had a net margin of 31.69% and a return on equity of 17.89%. The company’s revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.53 EPS. As a group, research analysts expect that Rambus, Inc. will post 2.52 earnings per share for the current year.

About Rambus

(Free Report)

Rambus Inc (NASDAQ: RMBS) is a technology company that develops semiconductor and intellectual property solutions for the data-intensive computing market. Its business focuses on improving the performance, capacity, security and energy efficiency of memory and other components used in data centers, personal computers, networking equipment and other electronic systems.

The company offers memory interface chips and related products, including registered clock drivers, memory interface chips and power-management solutions designed for high-performance memory modules.

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