CloudAlpha Capital Management Limited Hong Kong Buys Shares of 165,800 Rambus, Inc. $RMBS

CloudAlpha Capital Management Limited Hong Kong acquired a new stake in Rambus, Inc. (NASDAQ:RMBS) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 165,800 shares of the semiconductor company’s stock, valued at approximately $17,276,000. Rambus makes up 0.6% of CloudAlpha Capital Management Limited Hong Kong’s portfolio, making the stock its 23rd largest holding.

A number of other large investors have also recently added to or reduced their stakes in the stock. EdgePoint Investment Group Inc. raised its holdings in Rambus by 138.4% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 2,787,327 shares of the semiconductor company’s stock worth $178,445,000 after acquiring an additional 1,618,133 shares during the period. Geode Capital Management LLC grew its position in shares of Rambus by 1.3% in the second quarter. Geode Capital Management LLC now owns 2,687,691 shares of the semiconductor company’s stock valued at $172,086,000 after purchasing an additional 35,744 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Rambus by 13.2% in the second quarter. Bank of New York Mellon Corp now owns 2,019,504 shares of the semiconductor company’s stock worth $129,289,000 after purchasing an additional 235,253 shares during the period. Norges Bank acquired a new position in shares of Rambus during the 2nd quarter worth about $126,268,000. Finally, Westwood Holdings Group Inc. boosted its stake in Rambus by 41.0% during the 2nd quarter. Westwood Holdings Group Inc. now owns 1,737,062 shares of the semiconductor company’s stock valued at $111,207,000 after purchasing an additional 504,852 shares during the period. Institutional investors own 88.54% of the company’s stock.

Rambus Price Performance

NASDAQ RMBS opened at $110.92 on Tuesday. The stock’s 50 day simple moving average is $101.92 and its 200 day simple moving average is $93.98. Rambus, Inc. has a one year low of $40.12 and a one year high of $135.75. The firm has a market cap of $11.94 billion, a PE ratio of 52.57 and a beta of 1.53.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings data on Monday, February 2nd. The semiconductor company reported $0.68 earnings per share for the quarter, meeting the consensus estimate of $0.68. The firm had revenue of $190.24 million during the quarter, compared to analysts’ expectations of $188.21 million. Rambus had a net margin of 32.57% and a return on equity of 17.69%. As a group, equities analysts expect that Rambus, Inc. will post 1.89 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RMBS. Jefferies Financial Group raised shares of Rambus to a “strong-buy” rating in a research report on Tuesday, October 28th. William Blair assumed coverage on shares of Rambus in a report on Thursday, January 22nd. They set an “outperform” rating on the stock. Zacks Research raised shares of Rambus to a “hold” rating in a research report on Monday, January 26th. Evercore reduced their target price on shares of Rambus from $126.00 to $119.00 and set an “outperform” rating for the company in a research note on Tuesday, February 3rd. Finally, Susquehanna lowered their price target on Rambus from $100.00 to $90.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 3rd. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $105.71.

About Rambus

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.