Nine Chapters Capital Management LLC Invests $158,000 in Rambus Inc. (RMBS) Stock
Nine Chapters Capital Management LLC purchased a new position in Rambus Inc. (NASDAQ:RMBS) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 11,800 shares of the semiconductor company’s stock, valued at approximately $158,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of RMBS. Engineers Gate Manager LP lifted its holdings in shares of Rambus by 611.4% during the 2nd quarter. Engineers Gate Manager LP now owns 73,345 shares of the semiconductor company’s stock worth $838,000 after acquiring an additional 63,035 shares during the period. Cipher Capital LP lifted its holdings in shares of Rambus by 25.2% during the 2nd quarter. Cipher Capital LP now owns 298,503 shares of the semiconductor company’s stock worth $3,412,000 after acquiring an additional 60,021 shares during the period. Aperio Group LLC lifted its holdings in shares of Rambus by 27.9% during the 2nd quarter. Aperio Group LLC now owns 34,028 shares of the semiconductor company’s stock worth $389,000 after acquiring an additional 7,419 shares during the period. BlackRock Inc. lifted its holdings in shares of Rambus by 17,759.2% during the 1st quarter. BlackRock Inc. now owns 14,458,840 shares of the semiconductor company’s stock worth $189,990,000 after acquiring an additional 14,377,880 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Rambus by 5.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,349,719 shares of the semiconductor company’s stock worth $57,155,000 after acquiring an additional 216,124 shares during the period. Institutional investors own 76.39% of the company’s stock.
In other Rambus news, Director Penny Herscher sold 6,437 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $13.44, for a total value of $86,513.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Laura Stark sold 3,640 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $12.59, for a total value of $45,827.60. Following the completion of the sale, the senior vice president now directly owns 207,922 shares of the company’s stock, valued at approximately $2,617,737.98. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,350 shares of company stock valued at $407,104. 2.00% of the stock is owned by insiders.
A number of research firms have recently commented on RMBS. Zacks Investment Research raised shares of Rambus from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Friday, October 27th. Citigroup Inc raised their price objective on shares of Rambus from $15.30 to $15.90 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Loop Capital reissued a “buy” rating and set a $16.00 price target on shares of Rambus in a report on Tuesday, August 22nd. TheStreet raised shares of Rambus from a “c+” rating to a “b-” rating in a report on Friday, October 13th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $14.00 price target (up from $13.50) on shares of Rambus in a report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. Rambus has a consensus rating of “Hold” and a consensus price target of $15.98.
Shares of Rambus Inc. (NASDAQ RMBS) traded down $0.18 during mid-day trading on Friday, reaching $14.53. 826,244 shares of the company traded hands, compared to its average volume of 900,505. Rambus Inc. has a 12-month low of $11.30 and a 12-month high of $14.90. The company has a market cap of $1.60 billion, a P/E ratio of 29.42, a P/E/G ratio of 2.80 and a beta of 0.76. The company has a quick ratio of 1.34, a current ratio of 1.37 and a debt-to-equity ratio of 0.06.
Rambus (NASDAQ:RMBS) last issued its quarterly earnings data on Monday, October 23rd. The semiconductor company reported $0.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.02. Rambus had a return on equity of 9.79% and a net margin of 2.54%. The company had revenue of $99.10 million during the quarter, compared to analyst estimates of $99.00 million. During the same quarter in the previous year, the firm earned $0.16 earnings per share. Rambus’s revenue was up 10.2% on a year-over-year basis. equities research analysts predict that Rambus Inc. will post 0.52 earnings per share for the current year.
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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