Zions Bancorporation bought a new stake in shares of Rambus, Inc. (NASDAQ:RMBS) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 9,168 shares of the semiconductor company’s stock, valued at approximately $122,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in RMBS. Aperio Group LLC raised its stake in Rambus by 27.9% during the 2nd quarter. Aperio Group LLC now owns 34,028 shares of the semiconductor company’s stock valued at $389,000 after buying an additional 7,419 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Rambus by 62.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 165,052 shares of the semiconductor company’s stock valued at $1,887,000 after buying an additional 63,526 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in Rambus by 3.3% during the 2nd quarter. Great West Life Assurance Co. Can now owns 160,309 shares of the semiconductor company’s stock valued at $1,831,000 after buying an additional 5,080 shares during the last quarter. Texas Permanent School Fund increased its stake in shares of Rambus by 1.3% in the 2nd quarter. Texas Permanent School Fund now owns 81,574 shares of the semiconductor company’s stock worth $932,000 after purchasing an additional 1,082 shares in the last quarter. Finally, TD Asset Management Inc. increased its stake in shares of Rambus by 9.0% in the 2nd quarter. TD Asset Management Inc. now owns 72,500 shares of the semiconductor company’s stock worth $829,000 after purchasing an additional 6,000 shares in the last quarter. Institutional investors and hedge funds own 77.04% of the company’s stock.
Several research firms have recently commented on RMBS. BidaskClub lowered Rambus from a “buy” rating to a “hold” rating in a research note on Tuesday. Loop Capital restated a “buy” rating and issued a $16.00 price objective on shares of Rambus in a research note on Tuesday, August 22nd. Zacks Investment Research lowered Rambus from a “buy” rating to a “hold” rating in a research note on Wednesday, September 27th. TheStreet upgraded Rambus from a “c+” rating to a “b-” rating in a research note on Friday, October 13th. Finally, Citigroup upped their price objective on Rambus from $15.30 to $15.90 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Rambus has a consensus rating of “Buy” and a consensus price target of $15.98.
Rambus (NASDAQ:RMBS) last posted its quarterly earnings data on Monday, October 23rd. The semiconductor company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.17 by $0.02. The firm had revenue of $99.10 million during the quarter, compared to analyst estimates of $99.00 million. Rambus had a return on equity of 9.79% and a net margin of 2.54%. Rambus’s revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.16 EPS. research analysts anticipate that Rambus, Inc. will post 0.52 earnings per share for the current fiscal year.
In related news, Director David A. Shrigley sold 5,000 shares of the company’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $14.06, for a total value of $70,300.00. Following the completion of the transaction, the director now owns 53,045 shares of the company’s stock, valued at approximately $745,812.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Penny Herscher sold 6,437 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $13.44, for a total transaction of $86,513.28. The disclosure for this sale can be found here. Insiders sold a total of 36,646 shares of company stock valued at $515,244 in the last ninety days. 2.00% of the stock is currently owned by insiders.
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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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