Rambus Inc. (RMBS) Position Boosted by BlackRock Advisors LLC
BlackRock Advisors LLC boosted its position in shares of Rambus Inc. (NASDAQ:RMBS) by 10.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 861,089 shares of the company’s stock after buying an additional 81,659 shares during the period. BlackRock Advisors LLC owned approximately 0.78% of Rambus worth $10,402,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. BlackRock Group LTD boosted its stake in Rambus by 73.5% in the first quarter. BlackRock Group LTD now owns 257,490 shares of the company’s stock worth $3,541,000 after buying an additional 109,067 shares during the period. Gerstein Fisher purchased a new stake in Rambus during the second quarter worth about $705,000. BlackRock Inc. boosted its stake in Rambus by 1,078.1% in the first quarter. BlackRock Inc. now owns 61,639 shares of the company’s stock worth $848,000 after buying an additional 56,407 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in Rambus by 0.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,843,177 shares of the company’s stock worth $39,094,000 after buying an additional 20,178 shares during the period. Finally, Commerzbank Aktiengesellschaft FI boosted its stake in Rambus by 64.2% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 42,251 shares of the company’s stock worth $510,000 after buying an additional 16,519 shares during the period. Institutional investors own 74.55% of the company’s stock.
Rambus Inc. (NASDAQ:RMBS) opened at 12.42 on Friday. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of 7.06 and a beta of 1.32. Rambus Inc. has a 52-week low of $9.86 and a 52-week high of $14.50. The company has a 50-day moving average of $13.17 and a 200 day moving average of $12.74.
Rambus (NASDAQ:RMBS) last issued its quarterly earnings results on Monday, July 18th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.02. Rambus had a net margin of 66.99% and a return on equity of 10.40%. The firm had revenue of $76.50 million for the quarter, compared to analyst estimates of $74.44 million. During the same period in the previous year, the business earned $0.13 EPS. The company’s revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts anticipate that Rambus Inc. will post $0.56 EPS for the current year.
A number of equities research analysts have issued reports on RMBS shares. Roth Capital started coverage on shares of Rambus in a report on Wednesday, August 31st. They set a “buy” rating and a $16.00 price target for the company. Benchmark Co. restated a “positive” rating on shares of Rambus in a report on Tuesday, October 4th. Jefferies Group restated a “hold” rating and set a $12.50 price target on shares of Rambus in a report on Wednesday, July 6th. JPMorgan Chase & Co. restated a “hold” rating and set a $12.50 price target on shares of Rambus in a report on Tuesday, July 5th. Finally, Zacks Investment Research upgraded shares of Rambus from a “sell” rating to a “hold” rating in a research note on Tuesday, August 2nd. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $14.11.
In other news, SVP Satish Rishi sold 2,000 shares of the business’s stock in a transaction dated Tuesday, July 19th. The shares were sold at an average price of $13.49, for a total transaction of $26,980.00. Following the transaction, the senior vice president now directly owns 251,838 shares in the company, valued at approximately $3,397,294.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David A. Shrigley sold 5,000 shares of the business’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $13.79, for a total transaction of $68,950.00. Following the transaction, the director now owns 53,379 shares in the company, valued at $736,096.41. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by company insiders.
Rambus Company Profile
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).
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