Global X Management Co. LLC Boosts Stake in Rambus, Inc. (RMBS)
Global X Management Co. LLC boosted its stake in Rambus, Inc. (NASDAQ:RMBS) by 30.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 42,177 shares of the semiconductor company’s stock after buying an additional 9,846 shares during the period. Global X Management Co. LLC’s holdings in Rambus were worth $482,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of RMBS. Teachers Advisors LLC boosted its position in shares of Rambus by 1.8% in the fourth quarter. Teachers Advisors LLC now owns 178,314 shares of the semiconductor company’s stock valued at $2,455,000 after buying an additional 3,236 shares during the period. Skylands Capital LLC boosted its position in shares of Rambus by 49.4% in the first quarter. Skylands Capital LLC now owns 93,800 shares of the semiconductor company’s stock valued at $1,233,000 after buying an additional 31,000 shares during the period. Fox Run Management L.L.C. purchased a new position in shares of Rambus during the first quarter valued at approximately $378,000. Louisiana State Employees Retirement System boosted its position in shares of Rambus by 2.0% in the first quarter. Louisiana State Employees Retirement System now owns 45,300 shares of the semiconductor company’s stock valued at $595,000 after buying an additional 900 shares during the period. Finally, State of Alaska Department of Revenue boosted its position in shares of Rambus by 3.2% in the first quarter. State of Alaska Department of Revenue now owns 12,270 shares of the semiconductor company’s stock valued at $161,000 after buying an additional 380 shares during the period. 79.96% of the stock is owned by hedge funds and other institutional investors.
Rambus, Inc. (NASDAQ RMBS) opened at 12.68 on Friday. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of 211.33 and a beta of 0.90. The firm’s 50-day moving average price is $12.59 and its 200 day moving average price is $12.56. Rambus, Inc. has a 1-year low of $11.30 and a 1-year high of $14.50.
Rambus (NASDAQ:RMBS) last announced its quarterly earnings data on Monday, July 24th. The semiconductor company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.01. Rambus had a return on equity of 9.28% and a net margin of 1.76%. The business had revenue of $94.70 million during the quarter, compared to the consensus estimate of $93 million. During the same period in the prior year, the company earned $0.15 EPS. Rambus’s revenue for the quarter was up 23.8% on a year-over-year basis. On average, analysts predict that Rambus, Inc. will post $0.65 EPS for the current year.
Several research analysts have issued reports on RMBS shares. Jefferies Group LLC reiterated a “hold” rating and set a $13.50 price objective on shares of Rambus in a research note on Tuesday, April 25th. TheStreet upgraded Rambus from a “c” rating to a “b-” rating in a research note on Monday, April 24th. Zacks Investment Research lowered Rambus from a “hold” rating to a “sell” rating in a research note on Saturday, April 29th. Finally, BidaskClub lowered Rambus from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 20th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. Rambus has an average rating of “Buy” and a consensus price target of $15.10.
In related news, Director David A. Shrigley sold 5,000 shares of the company’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $12.98, for a total transaction of $64,900.00. Following the completion of the sale, the director now directly owns 46,253 shares in the company, valued at approximately $600,363.94. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Laura Stark sold 3,491 shares of the company’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $12.90, for a total value of $45,033.90. Following the sale, the senior vice president now owns 208,474 shares of the company’s stock, valued at $2,689,314.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,927 shares of company stock valued at $760,522. 2.00% of the stock is owned by corporate insiders.
Rambus Company Profile
Rambus Inc (Rambus) produces hardware and software technologies. The Company’s segments include Memory and Interface Division (MID), which focuses the design, development, manufacturing through partnerships and licensing of technology and solutions that is related to memory and interfaces; Rambus Security Division (RSD), which focuses on the design, development and licensing of technologies for chip and system security, anti-counterfeiting, smart ticketing and mobile payments; Emerging Solutions Division (ESD), which encompasses its long-term research and development efforts in the area of emerging technologies, and Rambus Lighting Division (RLD), which focuses on the design, development and licensing of technologies for lighting.
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