Rambus, Inc. $RMBS Shares Acquired by CenterBook Partners LP

CenterBook Partners LP increased its position in Rambus, Inc. (NASDAQ:RMBS) by 496.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 41,557 shares of the semiconductor company’s stock after buying an additional 34,589 shares during the period. CenterBook Partners LP’s holdings in Rambus were worth $4,437,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kestra Advisory Services LLC raised its holdings in shares of Rambus by 32.7% in the 3rd quarter. Kestra Advisory Services LLC now owns 2,197 shares of the semiconductor company’s stock worth $235,000 after purchasing an additional 541 shares during the period. Kestra Private Wealth Services LLC lifted its stake in shares of Rambus by 8.7% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 6,987 shares of the semiconductor company’s stock valued at $746,000 after purchasing an additional 561 shares in the last quarter. Chicago Partners Investment Group LLC grew its holdings in shares of Rambus by 107.1% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 5,469 shares of the semiconductor company’s stock worth $468,000 after purchasing an additional 2,828 shares during the period. Covestor Ltd grew its holdings in shares of Rambus by 180.5% during the 3rd quarter. Covestor Ltd now owns 1,108 shares of the semiconductor company’s stock worth $119,000 after purchasing an additional 713 shares during the period. Finally, Provenance Wealth Advisors LLC purchased a new stake in shares of Rambus during the 3rd quarter worth about $29,000. Institutional investors and hedge funds own 88.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RMBS. Glj Research set a $165.00 target price on shares of Rambus in a research report on Tuesday, July 28th. Evercore reaffirmed an “outperform” rating and set a $150.00 price target on shares of Rambus in a research report on Tuesday, October 27th. Rosenblatt Securities reiterated a “buy” rating and set a $165.00 price objective on shares of Rambus in a research note on Tuesday, October 27th. UBS Group set a $165.00 price objective on shares of Rambus in a research report on Tuesday, October 27th. Finally, Zacks Research raised shares of Rambus from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $147.00.

Rambus Price Performance

NASDAQ:RMBS opened at $74.53 on Friday. The business’s 50-day moving average is $92.82 and its two-hundred day moving average is $107.30. Rambus, Inc. has a 12 month low of $68.19 and a 12 month high of $174.10. The firm has a market capitalization of $7.98 billion, a PE ratio of 30.67 and a beta of 1.93.

Rambus (NASDAQ:RMBS) last issued its earnings results on Monday, October 26th. The semiconductor company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.05. Rambus had a return on equity of 19.43% and a net margin of 33.40%. The company had revenue of $218.29 million during the quarter, compared to the consensus estimate of $213.21 million. Equities analysts anticipate that Rambus, Inc. will post 2.64 EPS for the current year.

Rambus 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.