New Century Advisors LLC Raises Holdings in Rambus Inc. (NASDAQ:RMBS)

New Century Advisors LLC grew its position in shares of Rambus Inc. (NASDAQ:RMBSGet Rating) by 7.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,354 shares of the semiconductor company’s stock after buying an additional 594 shares during the period. New Century Advisors LLC’s holdings in Rambus were worth $180,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in RMBS. Counterpoint Mutual Funds LLC purchased a new stake in Rambus during the 1st quarter worth about $65,000. FNY Investment Advisers LLC purchased a new stake in Rambus during the 1st quarter worth about $86,000. GSA Capital Partners LLP purchased a new stake in Rambus during the 4th quarter worth about $203,000. Virtu Financial LLC purchased a new stake in Rambus during the 1st quarter worth about $206,000. Finally, Aaron Wealth Advisors LLC purchased a new stake in Rambus during the 1st quarter worth about $207,000. Hedge funds and other institutional investors own 86.28% of the company’s stock.

Rambus Price Performance

Shares of NASDAQ:RMBS traded down $0.71 on Friday, hitting $24.23. The company’s stock had a trading volume of 17,359 shares, compared to its average volume of 502,793. The company has a 50-day simple moving average of $25.65 and a 200 day simple moving average of $25.52. Rambus Inc. has a 1 year low of $20.00 and a 1 year high of $33.75. The company has a market capitalization of $2.68 billion, a PE ratio of -116.14 and a beta of 1.20.

Rambus (NASDAQ:RMBSGet Rating) last announced its quarterly earnings data on Monday, August 1st. The semiconductor company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.05). The firm had revenue of $121.13 million for the quarter, compared to the consensus estimate of $137.20 million. Rambus had a negative net margin of 5.45% and a positive return on equity of 18.24%. Rambus’s revenue for the quarter was up 42.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.29 earnings per share. On average, equities research analysts expect that Rambus Inc. will post 1.41 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, TheStreet raised Rambus from a “c” rating to a “b-” rating in a report on Tuesday, August 2nd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.20.

About Rambus

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Rambus Inc provides semiconductor products in the United States, Taiwan, South Korea, Japan, Europe, Canada, Singapore, China, and internationally. The company offers DDR memory interface chips, including DDR5, DDR4 and DDR3 memory interface chips to module manufacturers and OEMs; silicon IP comprising, interface and security IP solutions that move and protect data in advanced applications; and physical interface and digital controller IP to offer industry-leading, integrated memory and interconnect subsystems.

See Also

Institutional Ownership by Quarter for Rambus (NASDAQ:RMBS)

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