Rambus, Inc. (NASDAQ:RMBS) Stake Boosted by Bank of America Corp DE

Bank of America Corp DE raised its stake in Rambus, Inc. (NASDAQ:RMBS) by 58.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 375,698 shares of the semiconductor company’s stock after buying an additional 137,978 shares during the period. Bank of America Corp DE owned about 0.34% of Rambus worth $4,937,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of RMBS. Municipal Employees Retirement System of Michigan increased its stake in Rambus by 0.9% in the first quarter. Municipal Employees Retirement System of Michigan now owns 31,410 shares of the semiconductor company’s stock valued at $413,000 after buying an additional 290 shares in the last quarter. State of Alaska Department of Revenue boosted its position in 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 last quarter. Louisiana State Employees Retirement System boosted its position in 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 last quarter. Arizona State Retirement System boosted its position in Rambus by 1.8% in the first quarter. Arizona State Retirement System now owns 57,900 shares of the semiconductor company’s stock valued at $761,000 after buying an additional 1,000 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in Rambus by 0.8% in the first quarter. Legal & General Group Plc now owns 192,798 shares of the semiconductor company’s stock valued at $2,532,000 after buying an additional 1,511 shares during the last quarter. 79.96% of the stock is owned by institutional investors.

Shares of Rambus, Inc. (RMBS) opened at 12.62 on Friday. Rambus, Inc. has a one year low of $11.30 and a one year high of $14.50. The firm’s 50-day moving average is $12.62 and its 200 day moving average is $12.55. The firm has a market capitalization of $1.38 billion, a P/E ratio of 210.33 and a beta of 0.90.

Rambus (NASDAQ:RMBS) last released its quarterly earnings data on Monday, July 24th. The semiconductor company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The firm had revenue of $94.70 million during the quarter, compared to analyst estimates of $93 million. Rambus had a return on equity of 9.28% and a net margin of 1.76%. The business’s quarterly revenue was up 23.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.15 earnings per share. Equities research analysts predict that Rambus, Inc. will post $0.65 earnings per share for the current year.

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RMBS has been the subject of a number of recent research reports. Jefferies Group LLC restated a “hold” rating and issued a $14.00 price objective (up previously from $13.50) on shares of Rambus in a research note on Tuesday, July 25th. BidaskClub cut shares of Rambus from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Zacks Investment Research upgraded shares of Rambus from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research report on Saturday, July 29th. Finally, TheStreet cut shares of Rambus from a “b-” rating to a “c+” rating in a research report on Friday, June 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. Rambus currently has a consensus rating of “Buy” and an average target price of $15.10.

In related news, SVP Laura Stark sold 3,491 shares of the stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $12.90, for a total transaction of $45,033.90. Following the completion of the transaction, the senior vice president now directly owns 208,474 shares of the company’s stock, valued at $2,689,314.60. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Jae Kim sold 42,449 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $12.71, for a total value of $539,526.79. Following the transaction, the senior vice president now directly owns 120,126 shares of the company’s stock, valued at $1,526,801.46. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,927 shares of company stock valued at $760,522. Corporate insiders own 2.00% of the company’s stock.

About Rambus

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.

Institutional Ownership by Quarter for Rambus (NASDAQ:RMBS)

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