Mason Street Advisors LLC bought a new position in Rambus Inc. (NASDAQ:RMBS) during the second quarter, Holdings Channel reports. The institutional investor bought 21,519 shares of the company’s stock, valued at approximately $260,000.
A number of other institutional investors have also recently made changes to their positions in the company. BlackRock Group LTD increased its position in shares of Rambus by 73.5% in the first quarter. BlackRock Group LTD now owns 257,490 shares of the company’s stock worth $3,541,000 after buying an additional 109,067 shares in the last quarter. Gerstein Fisher purchased a new position in shares of Rambus during the second quarter worth $705,000. BlackRock Inc. increased its position in shares of Rambus by 1,078.1% in the first quarter. BlackRock Inc. now owns 61,639 shares of the company’s stock worth $848,000 after buying an additional 56,407 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of Rambus by 0.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,843,177 shares of the company’s stock worth $39,094,000 after buying an additional 20,178 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI increased its position in shares of Rambus by 64.2% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 42,251 shares of the company’s stock worth $510,000 after buying an additional 16,519 shares in the last quarter. 74.55% of the stock is owned by institutional investors and hedge funds.
Shares of Rambus Inc. (NASDAQ:RMBS) opened at 12.42 on Monday. 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 $1.36 billion, a P/E ratio of 7.06 and a beta of 1.32. The firm has a 50-day moving average of $13.17 and a 200 day moving average of $12.74.
Rambus (NASDAQ:RMBS) last announced its quarterly earnings data on Monday, July 18th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.02. Rambus had a net margin of 66.99% and a return on equity of 10.40%. The company earned $76.50 million during the quarter, compared to analysts’ expectations of $74.44 million. During the same quarter in the prior year, the company earned $0.13 EPS. The firm’s revenue was up 5.1% on a year-over-year basis. On average, equities research analysts expect that Rambus Inc. will post $0.56 earnings per share for the current year.
A number of equities analysts recently weighed in on RMBS shares. Roth Capital started coverage on shares of Rambus in a research note on Wednesday, August 31st. They set a “buy” rating and a $16.00 target price for the company. Benchmark Co. reissued a “positive” rating on shares of Rambus in a research note on Tuesday, October 4th. Jefferies Group reissued a “hold” rating and set a $12.50 target price on shares of Rambus in a research note on Wednesday, July 6th. JPMorgan Chase & Co. reissued a “hold” rating and set a $12.50 target price on shares of Rambus in a research note on Tuesday, July 5th. Finally, Zacks Investment Research raised shares of Rambus from a “sell” rating to a “hold” rating in a research note on Tuesday, August 2nd. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $14.11.
In other news, CEO Ronald D. Black sold 29,528 shares of the company’s stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $13.51, for a total value of $398,923.28. Following the completion of the sale, the chief executive officer now owns 359,241 shares of the company’s stock, valued at approximately $4,853,345.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Satish Rishi sold 2,000 shares of the company’s stock in a transaction on Tuesday, July 19th. The shares were sold at an average price of $13.49, for a total transaction of $26,980.00. Following the completion of the sale, the senior vice president now directly owns 251,838 shares of the company’s stock, valued at approximately $3,397,294.62. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by insiders.
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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