Mirae Asset Global Investments Co. Ltd. acquired a new stake in Rambus, Inc. (NASDAQ:RMBS – Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 13,989 shares of the semiconductor company’s stock, valued at approximately $1,493,000.
Other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Rambus during the 2nd quarter worth approximately $1,853,645,000. EdgePoint Investment Group Inc. lifted its holdings in shares of Rambus by 38.5% in the 1st quarter. EdgePoint Investment Group Inc. now owns 1,947,742 shares of the semiconductor company’s stock valued at $167,564,000 after buying an additional 541,056 shares during the period. Bank of America Corp DE acquired a new stake in shares of Rambus in the 2nd quarter valued at approximately $161,774,000. Bank of New York Mellon Corp purchased a new stake in shares of Rambus in the second quarter valued at approximately $109,940,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Rambus in the second quarter valued at approximately $105,820,000. Hedge funds and other institutional investors own 88.54% of the company’s stock.
Analyst Upgrades and Downgrades
RMBS has been the topic of a number of recent analyst reports. Glj Research set a $165.00 price objective on Rambus in a report on Tuesday, July 28th. Evercore reiterated an “outperform” rating and issued a $150.00 price objective on shares of Rambus in a research note on Tuesday, October 27th. Weiss Ratings reissued a “hold (c+)” rating on shares of Rambus in a report on Wednesday, September 2nd. Benchmark restated a “buy” rating on shares of Rambus in a research report on Tuesday, July 28th. Finally, UBS Group set a $165.00 target price on shares of Rambus in a report on Tuesday, October 27th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.
Read Our Latest Report on RMBS
Rambus Price Performance
Shares of NASDAQ RMBS opened at $74.53 on Friday. Rambus, Inc. has a 12-month low of $68.19 and a 12-month high of $174.10. The company has a market capitalization of $7.98 billion, a PE ratio of 30.67 and a beta of 1.93. The firm’s 50-day moving average is $92.82 and its two-hundred day moving average is $107.30.
Rambus (NASDAQ:RMBS – Get Free Report) last released its quarterly earnings results on Monday, October 26th. The semiconductor company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.79 by $0.05. Rambus had a net margin of 33.40% and a return on equity of 19.43%. The business had revenue of $218.29 million for the quarter, compared to analyst estimates of $213.21 million. On average, analysts forecast that Rambus, Inc. will post 2.64 EPS for the current fiscal year.
Rambus Company Profile
Rambus Inc develops semiconductor technology used to move and protect data in electronic systems. Its business includes memory-interface chips and silicon intellectual property licensed to semiconductor manufacturers and other technology companies.
The company’s products include memory interface components for advanced memory systems, such as registered clock drivers and data buffers, as well as security technologies for applications including cryptography and hardware-based protection.
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