Wellington Management Group LLP lessened its holdings in Rambus, Inc. (NASDAQ:RMBS – Free Report) by 51.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 418,533 shares of the semiconductor company’s stock after selling 438,065 shares during the quarter. Wellington Management Group LLP owned 0.39% of Rambus worth $55,556,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of RMBS. BlackRock Inc. acquired a new stake in Rambus in the 2nd quarter worth about $1,853,645,000. Invesco Ltd. increased its holdings in shares of Rambus by 70.6% during the fourth quarter. Invesco Ltd. now owns 4,148,653 shares of the semiconductor company’s stock worth $381,220,000 after purchasing an additional 1,716,621 shares during the period. Norges Bank bought a new position in shares of Rambus during the fourth quarter worth approximately $156,356,000. Bank of America Corp DE acquired a new stake in shares of Rambus in the second quarter valued at approximately $161,774,000. Finally, Bessemer Group Inc. raised its position in shares of Rambus by 1,009.5% in the first quarter. Bessemer Group Inc. now owns 1,039,905 shares of the semiconductor company’s stock valued at $89,463,000 after buying an additional 946,177 shares in the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on the company. Glj Research set a $165.00 price target on Rambus in a research report on Tuesday, July 28th. Benchmark reaffirmed a “buy” rating on shares of Rambus in a report on Tuesday, July 28th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rambus in a research report on Friday, June 5th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $165.00 target price on shares of Rambus in a report on Tuesday, July 28th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Rambus presently has a consensus rating of “Moderate Buy” and an average price target of $145.88.
Rambus Trading Down 0.4%
Shares of NASDAQ RMBS opened at $84.34 on Friday. The company has a market cap of $9.15 billion, a price-to-earnings ratio of 38.69 and a beta of 1.88. Rambus, Inc. has a 12 month low of $72.45 and a 12 month high of $174.10. The stock has a 50-day moving average price of $99.66 and a two-hundred day moving average price of $111.60.
Rambus (NASDAQ:RMBS – Get Free Report) last posted its earnings results on Monday, July 27th. The semiconductor company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.05. Rambus had a net margin of 31.69% and a return on equity of 17.89%. The firm had revenue of $207.39 million during the quarter, compared to analysts’ expectations of $199.30 million. During the same quarter in the prior year, the business earned $0.53 earnings per share. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, sell-side analysts predict that Rambus, Inc. will post 2.52 earnings per share for the current year.
Rambus Profile
Rambus Inc is a technology licensing company specializing in semiconductor and system-level interface solutions. Founded in 1990 by Stanford University researchers Mike Farmwald and Mark Horowitz, Rambus established its headquarters in Sunnyvale, California. The company initially gained prominence by developing high-speed DRAM interface technology and securing a broad patent portfolio covering memory architecture, data signaling and power management innovations.
Today, Rambus licenses its proprietary intellectual property (IP) to semiconductor companies, original equipment manufacturers (OEMs) and system integrators worldwide.
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