First Trust Advisors LP purchased a new position in Rambus Inc. (NASDAQ:RMBS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 97,451 shares of the company’s stock, valued at approximately $1,177,000. First Trust Advisors LP owned 0.09% of Rambus as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in RMBS. Menta Capital LLC acquired a new stake in shares of Rambus during the first quarter worth approximately $198,000. Aperio Group LLC raised its stake in shares of Rambus by 8.3% in the first quarter. Aperio Group LLC now owns 22,621 shares of the company’s stock worth $311,000 after buying an additional 1,738 shares during the last quarter. Pacad Investment Ltd. raised its stake in shares of Rambus by 23.4% in the first quarter. Pacad Investment Ltd. now owns 24,302 shares of the company’s stock worth $334,000 after buying an additional 4,602 shares during the last quarter. Bayesian Capital Management LP acquired a new stake in shares of Rambus during the first quarter worth approximately $370,000. Finally, Capstone Asset Management Co. raised its stake in shares of Rambus by 5.0% in the second quarter. Capstone Asset Management Co. now owns 36,658 shares of the company’s stock worth $443,000 after buying an additional 1,740 shares during the last quarter. 74.55% of the stock is owned by institutional investors.
Rambus Inc. (NASDAQ:RMBS) traded down 0.48% during midday trading on Monday, reaching $12.44. The company had a trading volume of 321,474 shares. Rambus Inc. has a 1-year low of $9.86 and a 1-year high of $14.50. The firm has a 50-day moving average of $13.32 and a 200 day moving average of $12.77. The company has a market capitalization of $1.37 billion, a P/E ratio of 7.08 and a beta of 1.32.
Rambus (NASDAQ:RMBS) last released its earnings results on Monday, July 18th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.02. The firm earned $76.50 million during the quarter, compared to analyst estimates of $74.44 million. Rambus had a return on equity of 10.40% and a net margin of 66.99%. Rambus’s revenue was up 5.1% compared to the same quarter last year. During the same period last year, the business posted $0.13 earnings per share. On average, equities research analysts forecast that Rambus Inc. will post $0.56 EPS for the current year.
A number of brokerages recently commented on RMBS. Jefferies Group reaffirmed a “hold” rating and issued a $12.50 price target on shares of Rambus in a research note on Wednesday, July 6th. JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $12.50 price target on shares of Rambus in a research note on Tuesday, July 5th. Zacks Investment Research upgraded Rambus from a “sell” rating to a “hold” rating in a report on Tuesday, August 2nd. Roth Capital started coverage on Rambus in a report on Wednesday, August 31st. They issued a “buy” rating and a $16.00 price objective for the company. Finally, Citigroup Inc. increased their price objective on Rambus from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, July 20th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Rambus has an average rating of “Buy” and an average target price of $14.11.
In related news, SVP Laura Stark sold 4,010 shares of Rambus stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $14.35, for a total value of $57,543.50. Following the completion of the transaction, the senior vice president now directly owns 169,876 shares in the company, valued at $2,437,720.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Jae Kim sold 9,851 shares of Rambus stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $13.87, for a total value of $136,633.37. Following the completion of the transaction, the senior vice president now owns 92,605 shares of the company’s stock, valued at $1,284,431.35. The disclosure for this sale can be found here. 2.30% of the stock is owned by corporate insiders.
Rambus Inc produces semiconductor and Internet protocol (IP) products, spanning memory and interfaces to security, sensors and lighting. The Company’s products are integrated into devices and systems, powering and securing diverse applications, including big data and media platforms. Its segments include Memory and Interfaces Division (MID) and Cryptography Research Division (CRD).
Want to see what other hedge funds are holding RMBS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rambus Inc. (NASDAQ:RMBS).
Receive News & Ratings for Rambus Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rambus Inc. and related companies with MarketBeat.com's FREE daily email newsletter.