New York State Common Retirement Fund Increases Holdings in Rambus, Inc. (RMBS)

New York State Common Retirement Fund raised its holdings in shares of Rambus, Inc. (NASDAQ:RMBS) by 6.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 135,900 shares of the semiconductor company’s stock after acquiring an additional 8,499 shares during the period. New York State Common Retirement Fund owned approximately 0.12% of Rambus worth $1,553,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in RMBS. Trexquant Investment LP acquired a new position in shares of Rambus in the 2nd quarter valued at $137,000. Hanson & Doremus Investment Management acquired a new position in shares of Rambus in the 2nd quarter valued at $155,000. Amalgamated Bank lifted its stake in shares of Rambus by 3.7% in the 2nd quarter. Amalgamated Bank now owns 15,208 shares of the semiconductor company’s stock valued at $174,000 after purchasing an additional 549 shares during the period. FNY Partners Fund LP acquired a new position in shares of Rambus in the 2nd quarter valued at $228,000. Finally, Profund Advisors LLC lifted its stake in shares of Rambus by 12.5% in the 2nd quarter. Profund Advisors LLC now owns 21,364 shares of the semiconductor company’s stock valued at $244,000 after purchasing an additional 2,382 shares during the period. Institutional investors and hedge funds own 76.39% of the company’s stock.

Several equities analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Rambus from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Friday. Citigroup Inc. boosted their target price on shares of Rambus from $15.30 to $15.90 and gave the company a “buy” rating in a research note on Wednesday, October 25th. Loop Capital reiterated a “buy” rating and issued a $19.00 target price (up from $16.00) on shares of Rambus in a research note on Tuesday, October 24th. TheStreet upgraded shares of Rambus from a “c+” rating to a “b-” rating in a research note on Friday, October 13th. Finally, J P Morgan Chase & Co cut shares of Rambus from an “overweight” rating to a “neutral” rating and set a $15.00 target price for the company. in a research note on Friday, September 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $15.98.

In other Rambus news, SVP Laura Stark sold 3,069 shares of the firm’s stock in a transaction on Wednesday, October 11th. The stock was sold at an average price of $13.65, for a total value of $41,891.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ellis Thomas Fisher sold 6,437 shares of the firm’s stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $13.65, for a total value of $87,865.05. The disclosure for this sale can be found here. In the last three months, insiders sold 67,799 shares of company stock valued at $876,331. 2.00% of the stock is owned by corporate insiders.

Rambus, Inc. (RMBS) opened at 14.07 on Monday. The firm’s 50-day moving average is $13.53 and its 200-day moving average is $12.73. Rambus, Inc. has a 52-week low of $11.30 and a 52-week high of $14.50. The firm has a market capitalization of $1.54 billion, a PE ratio of 234.50 and a beta of 0.82.

Rambus (NASDAQ:RMBS) last released its earnings results on Monday, October 23rd. The semiconductor company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $99.00 million. During the same quarter last year, the company earned $0.16 earnings per share. Rambus’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, analysts anticipate that Rambus, Inc. will post $0.69 earnings per share for the current year.

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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.

Institutional Ownership by Quarter for Rambus (NASDAQ:RMBS)

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