Swiss National Bank Lowers Stake in Rambus Inc. (RMBS)
Swiss National Bank decreased its position in Rambus Inc. (NASDAQ:RMBS) by 4.4% during the second quarter, Holdings Channel reports. The firm owned 186,900 shares of the company’s stock after selling 8,700 shares during the period. Swiss National Bank owned about 0.17% of Rambus worth $2,258,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of RMBS. Menta Capital LLC purchased a new position in shares of Rambus during the first quarter worth approximately $198,000. Squarepoint Ops LLC purchased a new position in shares of Rambus during the first quarter worth approximately $263,000. Aperio Group LLC increased its position in shares of Rambus by 8.3% in the first quarter. Aperio Group LLC now owns 22,621 shares of the company’s stock worth $311,000 after buying an additional 1,738 shares during the period. Pacad Investment Ltd. increased its position in shares of Rambus by 23.4% in the first quarter. Pacad Investment Ltd. now owns 24,302 shares of the company’s stock worth $334,000 after buying an additional 4,602 shares during the period. Finally, Legal & General Group Plc increased its position in shares of Rambus by 19.8% in the first quarter. Legal & General Group Plc now owns 26,894 shares of the company’s stock worth $371,000 after buying an additional 4,442 shares during the period. 74.70% of the stock is currently owned by institutional investors.
Shares of Rambus Inc. (NASDAQ:RMBS) traded up 0.77% during trading on Friday, reaching $13.03. 1,481,912 shares of the company’s stock traded hands. Rambus Inc. has a 1-year low of $9.86 and a 1-year high of $14.50. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of 7.41 and a beta of 0.93. The stock has a 50-day moving average of $13.69 and a 200-day moving average of $12.81.
Rambus (NASDAQ:RMBS) last announced its earnings results on Monday, July 18th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. The company earned $76.50 million during the quarter, compared to analysts’ expectations of $74.44 million. Rambus had a net margin of 66.99% and a return on equity of 10.40%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.13 earnings per share. On average, equities analysts predict that Rambus Inc. will post $0.60 EPS for the current fiscal year.
A number of brokerages have commented on RMBS. JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $12.50 target price on shares of Rambus in a research note on Tuesday, July 5th. Zacks Investment Research raised shares of Rambus from a “sell” rating to a “hold” rating in a research note on Thursday, August 11th. Wunderlich began coverage on shares of Rambus in a research note on Friday, June 3rd. They set a “buy” rating and a $15.00 target price on the stock. Citigroup Inc. lifted their target price on shares of Rambus from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, July 20th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $12.50 target price on shares of Rambus in a research note on Wednesday, July 6th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Rambus has a consensus rating of “Buy” and a consensus target price of $14.11.
In other Rambus news, SVP Jae Kim sold 9,851 shares of Rambus stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $13.87, for a total transaction of $136,633.37. Following the completion of the transaction, the senior vice president now owns 92,605 shares in the company, valued at $1,284,431.35. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Laura Stark sold 4,010 shares of Rambus stock in a transaction dated Wednesday, July 6th. The stock was sold at an average price of $11.55, for a total transaction of $46,315.50. Following the transaction, the senior vice president now owns 172,619 shares of the company’s stock, valued at approximately $1,993,749.45. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.
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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