HighTower Advisors LLC Lowers Stock Holdings in Rambus, Inc. $RMBS

HighTower Advisors LLC cut its holdings in Rambus, Inc. (NASDAQ:RMBS) by 27.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 132,484 shares of the semiconductor company’s stock after selling 49,112 shares during the period. HighTower Advisors LLC owned 0.12% of Rambus worth $17,586,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in RMBS. California State Teachers Retirement System increased its stake in Rambus by 13,305.0% in the second quarter. California State Teachers Retirement System now owns 16,648,384 shares of the semiconductor company’s stock valued at $2,209,906,000 after purchasing an additional 16,524,189 shares during the last quarter. BlackRock Inc. acquired a new stake in Rambus in the 2nd quarter worth about $1,853,645,000. Invesco Ltd. boosted its stake in Rambus by 70.6% in the 4th quarter. Invesco Ltd. now owns 4,148,653 shares of the semiconductor company’s stock worth $381,220,000 after buying an additional 1,716,621 shares during the last quarter. Norges Bank purchased a new stake in Rambus in the 4th quarter valued at about $156,356,000. Finally, Bank of America Corp DE purchased a new stake in Rambus in the 2nd quarter valued at about $161,774,000. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Trading Up 1.7%

Shares of RMBS stock opened at $86.89 on Wednesday. The company’s fifty day simple moving average is $97.39 and its 200-day simple moving average is $111.25. Rambus, Inc. has a 52 week low of $72.50 and a 52 week high of $174.10. The company has a market cap of $9.42 billion, a PE ratio of 39.86 and a beta of 1.88.

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

Analysts Set New Price Targets

RMBS has been the topic of several research analyst reports. Benchmark reissued a “buy” rating on shares of Rambus in a research report on Tuesday, July 28th. Glj Research set a $165.00 price target on shares of Rambus in a research report on Tuesday, July 28th. Rosenblatt Securities reaffirmed a “buy” rating and set a $165.00 price target on shares of Rambus in a research note on Tuesday, July 28th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Rambus in a report on Wednesday, September 2nd. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Rambus currently has a consensus rating of “Moderate Buy” and an average price target of $145.88.

Rambus Company 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.