Bank of New York Mellon Corp raised its position in shares of Rambus Inc. (NASDAQ:RMBS) by 0.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,483,269 shares of the semiconductor company’s stock after acquiring an additional 12,232 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.38% of Rambus worth $18,601,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in RMBS. BlackRock Inc. raised its holdings in shares of Rambus by 5.5% during the second quarter. BlackRock Inc. now owns 14,820,822 shares of the semiconductor company’s stock valued at $185,853,000 after acquiring an additional 768,641 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Rambus by 8.7% during the second quarter. Dimensional Fund Advisors LP now owns 5,005,233 shares of the semiconductor company’s stock valued at $62,768,000 after acquiring an additional 399,358 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of Rambus by 1,251.4% during the second quarter. Jane Street Group LLC now owns 193,248 shares of the semiconductor company’s stock valued at $2,423,000 after acquiring an additional 178,948 shares during the last quarter. First Trust Advisors LP acquired a new position in shares of Rambus during the second quarter valued at approximately $1,449,000. Finally, Engineers Gate Manager LP acquired a new position in shares of Rambus during the second quarter valued at approximately $1,123,000. 79.32% of the stock is owned by institutional investors and hedge funds.
RMBS stock opened at $8.72 on Monday. The company has a quick ratio of 7.91, a current ratio of 8.02 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $946.13 million, a PE ratio of 19.38, a P/E/G ratio of 1.16 and a beta of 0.51. Rambus Inc. has a 1 year low of $7.30 and a 1 year high of $15.43.
Rambus (NASDAQ:RMBS) last posted its quarterly earnings results on Monday, October 29th. The semiconductor company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.23). The company had revenue of $59.80 million during the quarter, compared to analysts’ expectations of $100.00 million. Rambus had a negative net margin of 45.18% and a positive return on equity of 7.78%. Rambus’s revenue for the quarter was down 39.7% on a year-over-year basis. During the same quarter last year, the company earned $0.19 earnings per share. Equities research analysts predict that Rambus Inc. will post 0.75 EPS for the current fiscal year.
A number of brokerages have commented on RMBS. BidaskClub cut Rambus from a “hold” rating to a “sell” rating in a report on Friday, August 17th. TheStreet cut Rambus from a “c-” rating to a “d” rating in a report on Tuesday, October 30th. ValuEngine cut Rambus from a “hold” rating to a “sell” rating in a report on Tuesday, August 14th. Deutsche Bank reduced their target price on Rambus from $16.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, October 30th. Finally, Roth Capital reduced their target price on Rambus from $18.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, October 23rd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $14.80.
In other news, Vice Chairman Charles Kissner sold 5,896 shares of the company’s stock in a transaction that occurred on Tuesday, October 2nd. The stock was sold at an average price of $10.59, for a total value of $62,438.64. Following the completion of the sale, the insider now directly owns 33,347 shares in the company, valued at $353,144.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.20% of the stock is owned by corporate insiders.
Rambus Company Profile
Rambus Inc provides semiconductor products in South Korea and internationally. The company operates through Memory and Interfaces, Security, and Other segments. It focuses on the design, development, and manufacturing through partnerships and licensing of technology and solutions related to memory and interfaces; and design, development, deployment, and licensing of technologies for chip, system and in-field application security, anti-counterfeiting, smart ticketing, and mobile payments.
Further Reading: Cost of Capital
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