Rambus Inc. (RMBS) Shares Bought by Louisiana State Employees Retirement System
Louisiana State Employees Retirement System raised its position in shares of Rambus Inc. (NASDAQ:RMBS) by 0.6% during the second quarter, Holdings Channel reports. The firm owned 48,800 shares of the company’s stock after buying an additional 300 shares during the period. Louisiana State Employees Retirement System’s holdings in Rambus were worth $590,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Institutional Trust Company N.A. boosted its position 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 valued at $39,094,000 after buying an additional 20,178 shares during the period. Bank of Montreal Can purchased a new position in Rambus during the second quarter valued at approximately $4,881,000. BlackRock Group LTD boosted its position in Rambus by 73.5% in the first quarter. BlackRock Group LTD now owns 257,490 shares of the company’s stock valued at $3,541,000 after buying an additional 109,067 shares during the period. BlackRock Inc. boosted its position in Rambus by 1,078.1% in the first quarter. BlackRock Inc. now owns 61,639 shares of the company’s stock valued at $848,000 after buying an additional 56,407 shares during the period. Finally, Financial Architects Inc purchased a new position in Rambus during the second quarter valued at approximately $494,000. Hedge funds and other institutional investors own 74.55% of the company’s stock.
Rambus Inc. (NASDAQ:RMBS) traded down 0.34% during mid-day trading on Friday, reaching $11.73. 313,056 shares of the company traded hands. The stock has a market capitalization of $1.29 billion, a PE ratio of 6.67 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 firm’s 50-day moving average is $12.89 and its 200 day moving average is $12.69.
Rambus (NASDAQ:RMBS) last posted its earnings results on Monday, July 18th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. The company had revenue of $76.50 million for the quarter, compared to analysts’ expectations of $74.44 million. Rambus had a return on equity of 10.40% and a net margin of 66.99%. The firm’s quarterly 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 expect that Rambus Inc. will post $0.56 earnings per share for the current year.
Several research analysts have commented on RMBS shares. Citigroup Inc. boosted their price target on shares of Rambus from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, July 20th. 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. Zacks Investment Research cut shares of Rambus from a “hold” rating to a “sell” rating in a report on Wednesday. Benchmark Co. reiterated a “positive” rating on shares of Rambus in a report on Tuesday, October 4th. Finally, Jefferies Group restated a “hold” rating and issued a $12.50 target price on shares of Rambus in a report on Wednesday, July 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $14.11.
In other Rambus news, SVP Laura Stark sold 4,010 shares of the firm’s stock in a transaction on Thursday, October 6th. The stock was sold at an average price of $12.51, for a total value of $50,165.10. Following the sale, the senior vice president now directly owns 169,876 shares in the company, valued at $2,125,148.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Penny Herscher sold 6,809 shares of the firm’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $12.43, for a total value of $84,635.87. Following the completion of the sale, the director now owns 12,874 shares in the company, valued at $160,023.82. The disclosure for this sale can be found here. 2.30% of the stock is owned by company 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).
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