36,053 Shares of Rambus, Inc. $RMBS Bought by NorthCrest Asset Manangement LLC

Key Points

• NorthCrest Asset Management purchased 36,053 Rambus shares during the third quarter, valued at approximately $3.9 million. Institutional investors collectively own 88.54% of the company.
• Analysts maintain a generally positive outlook, with six Buy ratings and four Holds producing a consensus rating of Moderate Buy and an average price target of $145.88.
• Rambus exceeded quarterly expectations, reporting $0.77 in earnings per share versus the $0.72 consensus and $207.39 million in revenue, up 20.4% year over year. The stock opened at $98.17, with a market capitalization of approximately $10.65 billion.

NorthCrest Asset Manangement LLC purchased a new stake in Rambus, Inc. (NASDAQ:RMBS - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 36,053 shares of the semiconductor company's stock, valued at approximately $3,911,000.

Several other institutional investors and hedge funds also recently modified their holdings of RMBS. BlackRock Inc. acquired a new position in shares of Rambus during the second quarter valued at approximately $1,853,645,000. EdgePoint Investment Group Inc. grew its stake in Rambus by 38.5% in the first quarter. EdgePoint Investment Group Inc. now owns 1,947,742 shares of the semiconductor company's stock valued at $167,564,000 after purchasing an additional 541,056 shares in the last quarter. Swedbank AB increased its holdings in Rambus by 14.7% in the first quarter. Swedbank AB now owns 1,563,000 shares of the semiconductor company's stock worth $134,465,000 after buying an additional 200,000 shares during the last quarter. Bank of America Corp DE raised its position in Rambus by 9.0% during the first quarter. Bank of America Corp DE now owns 1,361,570 shares of the semiconductor company's stock valued at $117,136,000 after acquiring an additional 111,928 shares in the last quarter. Finally, Bessemer Group Inc. grew its position in Rambus by 1,009.5% in the first quarter. Bessemer Group Inc. now owns 1,039,905 shares of the semiconductor company's stock worth $89,463,000 after acquiring an additional 946,177 shares in the last quarter. Institutional investors own 88.54% of the company's stock.

Analyst Upgrades and Downgrades

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

Rambus Price Performance

NASDAQ RMBS opened at $98.17 on Wednesday. The stock's 50 day simple moving average is $95.53 and its 200 day simple moving average is $112.03. Rambus, Inc. has a one year low of $77.89 and a one year high of $174.10. The firm has a market cap of $10.65 billion, a PE ratio of 45.03 and a beta of 1.85.

Rambus (NASDAQ:RMBS - Get Free Report) last announced its earnings results on Monday, July 27th. The semiconductor company reported $0.77 earnings per share for the quarter, beating 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 company had revenue of $207.39 million during the quarter, compared to analyst estimates of $199.30 million. During the same period last year, the company posted $0.53 earnings per share. The firm's quarterly revenue was up 20.4% compared to the same quarter last year. As a group, equities analysts expect that Rambus, Inc. will post 2.52 earnings per share for the current year.

About Rambus

Rambus Inc is a semiconductor technology company that develops and licenses high-performance chip interfaces and related intellectual property. Its technologies are designed to improve the speed, capacity, reliability and security of data transfer in memory systems and other electronic devices.

The company offers memory interface products for applications such as data centers, servers and advanced computing systems. Its portfolio includes solutions for DDR memory, high-bandwidth memory and other emerging memory architectures, as well as interface and connectivity technologies intended to support increasingly data-intensive workloads.

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