Bank of Montreal Can Has $4.11 Million Stake in Rambus, Inc. (NASDAQ:RMBS)
Bank of Montreal Can boosted its stake in Rambus, Inc. (NASDAQ:RMBS) by 3.9% during the second quarter, Holdings Channel reports. The firm owned 359,280 shares of the semiconductor company’s stock after buying an additional 13,580 shares during the period. Bank of Montreal Can’s holdings in Rambus were worth $4,107,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. LS Investment Advisors LLC raised its stake in Rambus by 88.5% in the first quarter. LS Investment Advisors LLC now owns 7,648 shares of the semiconductor company’s stock valued at $100,000 after buying an additional 3,590 shares during the period. Ameritas Investment Partners Inc. bought a new stake in shares of Rambus during the first quarter worth $117,000. Engineers Gate Manager LP bought a new stake in shares of Rambus during the first quarter worth $135,000. State of Alaska Department of Revenue raised its stake in shares of 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 worth $161,000 after buying an additional 380 shares during the last quarter. Finally, Stevens Capital Management LP bought a new stake in shares of Rambus during the first quarter worth $199,000. Hedge funds and other institutional investors own 78.58% of the company’s stock.
Shares of Rambus, Inc. (NASDAQ:RMBS) traded up 1.02% during midday trading on Friday, reaching $12.88. 83,619 shares of the company were exchanged. The firm has a market capitalization of $1.41 billion, a P/E ratio of 214.67 and a beta of 0.90. Rambus, Inc. has a 52 week low of $11.30 and a 52 week high of $14.50. The firm has a 50-day moving average of $12.27 and a 200 day moving average of $12.61.
Rambus (NASDAQ:RMBS) last announced its earnings results on Monday, July 24th. The semiconductor company reported $0.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.01. The company had revenue of $94.70 million during the quarter, compared to analyst estimates of $93 million. Rambus had a net margin of 1.76% and a return on equity of 9.28%. Rambus’s revenue was up 23.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.15 earnings per share. On average, equities research analysts expect that Rambus, Inc. will post $0.65 EPS for the current year.
A number of equities research analysts recently weighed in on RMBS shares. Zacks Investment Research upgraded shares of Rambus from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. BidaskClub lowered shares of Rambus from a “hold” rating to a “sell” rating in a report on Monday, July 24th. TheStreet upgraded shares of Rambus from a “c” rating to a “b-” rating in a report on Monday, April 24th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $14.00 price objective (up previously from $13.50) on shares of Rambus in a report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $15.10.
In other Rambus news, SVP Laura Stark sold 3,644 shares of the stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $12.06, for a total transaction of $43,946.64. Following the completion of the transaction, the senior vice president now owns 209,176 shares of the company’s stock, valued at $2,522,662.56. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David A. Shrigley sold 5,000 shares of the stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $12.98, for a total transaction of $64,900.00. Following the transaction, the director now directly owns 46,253 shares of the company’s stock, valued at approximately $600,363.94. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,830 shares of company stock valued at $224,908. 2.00% of the stock is currently owned by insiders.
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.
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