29,654 Shares in Rambus, Inc. $RMBS Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• Virginia Retirement Systems acquired 29,654 Rambus shares worth approximately $3.94 million during the second quarter. Institutional investors collectively own 88.54% of RMBS, with major additions also reported by California State Teachers Retirement System and BlackRock.
• Rambus reported quarterly revenue of $207.39 million, up 20.4% year over year, and earnings of $0.77 per share—beating analyst expectations of $0.72 EPS and $199.30 million in revenue.
• RMBS recently traded at $87.65, well below its 52-week high of $174.10. Analysts maintain a “Moderate Buy” consensus, with an average price target of $145.88.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Rambus, Inc. (NASDAQ:RMBS - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm acquired 29,654 shares of the semiconductor company's stock, valued at approximately $3,936,000.

Several other large investors have also recently added to or reduced their stakes in RMBS. California State Teachers Retirement System boosted its holdings in Rambus by 13,305.0% in the 2nd quarter. California State Teachers Retirement System now owns 16,648,384 shares of the semiconductor company's stock valued at $2,209,906,000 after purchasing an additional 16,524,189 shares in the last quarter. BlackRock Inc. acquired a new position in Rambus during the second quarter worth about $1,853,645,000. Price T Rowe Associates Inc. MD increased its holdings in Rambus by 2.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,385,570 shares of the semiconductor company's stock valued at $494,881,000 after buying an additional 140,226 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Rambus by 70.6% during the 4th quarter. Invesco Ltd. now owns 4,148,653 shares of the semiconductor company's stock worth $381,220,000 after acquiring an additional 1,716,621 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Rambus by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 2,842,715 shares of the semiconductor company's stock valued at $261,256,000 after purchasing an additional 94,214 shares in the last quarter. 88.54% of the stock is owned by hedge funds and other institutional investors.

Rambus Trading Up 0.9%

Rambus stock opened at $87.65 on Thursday. The stock has a fifty day moving average price of $96.66 and a 200 day moving average price of $111.13. Rambus, Inc. has a 52 week low of $75.02 and a 52 week high of $174.10. The firm has a market capitalization of $9.51 billion, a P/E ratio of 40.21 and a beta of 1.88.

Rambus (NASDAQ:RMBS - Get Free Report) last issued its quarterly earnings results on Monday, July 27th. The semiconductor company reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.72 by $0.05. Rambus had a return on equity of 17.89% and a net margin of 31.69%.The firm had revenue of $207.39 million for the quarter, compared to analyst estimates of $199.30 million. During the same period last year, the company earned $0.53 EPS. The firm's quarterly revenue was up 20.4% on a year-over-year basis. As a group, equities analysts predict that Rambus, Inc. will post 2.52 EPS for the current year.

Analyst Ratings Changes

A number of analysts have commented on RMBS shares. Glj Research set a $165.00 target price on Rambus in a research report on Tuesday, July 28th. Rosenblatt Securities reiterated a "buy" rating and issued a $165.00 price objective on shares of Rambus in a research report on Tuesday, July 28th. Benchmark reiterated a "buy" rating on shares of Rambus in a report on Tuesday, July 28th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Rambus in a report on Wednesday, September 2nd. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $145.88.

About Rambus

Rambus Inc is a technology licensing company specializing in semiconductor and system-level interface solutions. Founded in 1990 by Stanford University researchers Mike Farmwald and Mark Horowitz, Rambus established its headquarters in Sunnyvale, California. The company initially gained prominence by developing high-speed DRAM interface technology and securing a broad patent portfolio covering memory architecture, data signaling and power management innovations.

Today, Rambus licenses its proprietary intellectual property (IP) to semiconductor companies, original equipment manufacturers (OEMs) and system integrators worldwide.

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