VIRGINIA RETIREMENT SYSTEMS ET Al Invests $3.94 Million in Rambus, Inc. $RMBS

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Rambus, Inc. (NASDAQ:RMBS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 29,654 shares of the semiconductor company’s stock, valued at approximately $3,936,000.

A number of other hedge funds have also made changes to their positions in RMBS. AMJ Financial Wealth Management lifted its stake in shares of Rambus by 252.0% during the fourth quarter. AMJ Financial Wealth Management now owns 94,946 shares of the semiconductor company’s stock worth $8,725,000 after purchasing an additional 67,973 shares in the last quarter. State of Wyoming acquired a new position in shares of Rambus in the second quarter worth about $1,825,000. Handelsbanken Fonder AB boosted its holdings in Rambus by 28.1% in the second quarter. Handelsbanken Fonder AB now owns 150,857 shares of the semiconductor company’s stock valued at $20,025,000 after purchasing an additional 33,060 shares during the last quarter. BlackRock Inc. purchased a new stake in Rambus during the 2nd quarter worth approximately $1,853,645,000. Finally, California Public Employees Retirement System boosted its stake in shares of Rambus by 15.8% during the 1st quarter. California Public Employees Retirement System now owns 227,271 shares of the semiconductor company’s stock valued at $19,552,000 after buying an additional 31,064 shares during the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Stock Up 0.9%

Shares of NASDAQ RMBS opened at $87.65 on Thursday. The stock has a market cap of $9.51 billion, a P/E ratio of 40.21 and a beta of 1.88. The firm’s 50-day simple moving average is $96.66 and its 200 day simple moving average is $111.13. Rambus, Inc. has a fifty-two week low of $75.02 and a fifty-two week high of $174.10.

Rambus (NASDAQ:RMBS) last announced its earnings results on Monday, July 27th. The semiconductor company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.05. The firm had revenue of $207.39 million during the quarter, compared to analyst estimates of $199.30 million. Rambus had a net margin of 31.69% and a return on equity of 17.89%. Rambus’s revenue was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.53 EPS. On average, sell-side analysts anticipate that Rambus, Inc. will post 2.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on RMBS shares. Glj Research set a $165.00 price objective on shares of Rambus in a report on Tuesday, July 28th. Benchmark reissued a “buy” rating on shares of Rambus in a report on Tuesday, July 28th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $165.00 target price on shares of Rambus in a research report on Tuesday, July 28th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Rambus in a research note on Wednesday, September 2nd. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $145.88.

Rambus Profile

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.