Verition Fund Management LLC Buys Shares of 14,978 Rambus Inc. (NASDAQ:RMBS)
Verition Fund Management LLC purchased a new stake in Rambus Inc. (NASDAQ:RMBS) during the second quarter, according to its most recent filing with the SEC. The firm purchased 14,978 shares of the semiconductor company’s stock, valued at approximately $228,000.
Other large investors also recently made changes to their positions in the company. IFP Advisors Inc increased its holdings in shares of Rambus by 53.0% in the 2nd quarter. IFP Advisors Inc now owns 2,347 shares of the semiconductor company’s stock valued at $34,000 after acquiring an additional 813 shares during the period. Macquarie Group Ltd. purchased a new position in shares of Rambus in the 2nd quarter valued at $41,000. Marshall Wace LLP purchased a new position in shares of Rambus in the 1st quarter valued at $46,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of Rambus by 28.2% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 4,611 shares of the semiconductor company’s stock valued at $51,000 after acquiring an additional 1,013 shares during the period. Finally, Mutual of America Capital Management LLC increased its holdings in shares of Rambus by 23.7% in the 1st quarter. Mutual of America Capital Management LLC now owns 4,907 shares of the semiconductor company’s stock valued at $54,000 after acquiring an additional 941 shares during the period. Institutional investors and hedge funds own 82.40% of the company’s stock.
Several research analysts recently weighed in on the company. Jefferies Financial Group boosted their target price on Rambus from $14.00 to $17.00 and gave the stock a “hold” rating in a research note on Wednesday, June 17th. Deutsche Bank boosted their target price on Rambus from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. Zacks Investment Research downgraded Rambus from a “hold” rating to a “sell” rating in a research note on Wednesday, August 5th. Finally, BidaskClub downgraded Rambus from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 13th. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Rambus has an average rating of “Hold” and a consensus price target of $17.22.
Shares of RMBS stock opened at $13.73 on Wednesday. The stock has a market cap of $1.56 billion, a PE ratio of -33.49, a price-to-earnings-growth ratio of 0.94 and a beta of 0.93. The business has a 50-day simple moving average of $14.10 and a 200-day simple moving average of $13.77. The company has a quick ratio of 8.32, a current ratio of 8.46 and a debt-to-equity ratio of 0.16. Rambus Inc. has a 52-week low of $9.01 and a 52-week high of $16.98.
Rambus (NASDAQ:RMBS) last issued its quarterly earnings data on Monday, August 3rd. The semiconductor company reported ($0.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.34). The company had revenue of $59.90 million during the quarter, compared to analyst estimates of $83.30 million. Rambus had a negative net margin of 18.91% and a negative return on equity of 2.97%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the firm earned $0.22 EPS. Sell-side analysts anticipate that Rambus Inc. will post 0.94 earnings per share for the current fiscal year.
Rambus Inc provides semiconductor products in the United States, Japan, Europe, Taiwan, China, South Korea, Canada, Singapore, Asia, and internationally. The company operates through three divisions: Memory and Interfaces, Rambus Security, and Emerging Solutions. The Memory and Interfaces division engages in the design, development, and manufacturing through partnerships and licensing of technology and solutions related to memory and interfaces.
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