406,702 Shares in Rambus, Inc. $RMBS Bought by Nykredit A S

Key Points

• Nykredit A S acquired 406,702 Rambus shares during the second quarter, worth approximately $54.0 million and representing 0.37% of the company. Institutional investors and hedge funds collectively own 88.54% of RMBS.
• Rambus exceeded quarterly expectations, reporting $0.77 in EPS versus the $0.72 estimate and revenue of $207.39 million, up 20.4% year over year.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $145.88, well above the reported share price of $84.72.

Nykredit A S bought a new position in shares of Rambus, Inc. (NASDAQ:RMBS - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 406,702 shares of the semiconductor company's stock, valued at approximately $53,986,000. Nykredit A S owned 0.37% of Rambus as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of RMBS. BlackRock Inc. acquired a new position in Rambus in the 2nd quarter worth approximately $1,853,645,000. Invesco Ltd. raised its position in Rambus by 70.6% during the fourth quarter. Invesco Ltd. now owns 4,148,653 shares of the semiconductor company's stock valued at $381,220,000 after buying an additional 1,716,621 shares during the period. Norges Bank purchased a new stake in Rambus in the 4th quarter worth about $156,356,000. Bank of America Corp DE acquired a new stake in Rambus during the 2nd quarter worth about $161,774,000. Finally, Bessemer Group Inc. grew its stake in Rambus by 1,009.5% during the 1st quarter. Bessemer Group Inc. now owns 1,039,905 shares of the semiconductor company's stock valued at $89,463,000 after acquiring an additional 946,177 shares in the last quarter. Institutional investors and hedge funds own 88.54% of the company's stock.

Rambus Stock Performance

Shares of NASDAQ RMBS opened at $84.72 on Thursday. The business's 50-day simple moving average is $100.45 and its 200-day simple moving average is $111.72. Rambus, Inc. has a 52 week low of $72.45 and a 52 week high of $174.10. The firm has a market cap of $9.19 billion, a price-to-earnings ratio of 38.86 and a beta of 1.88.

Rambus (NASDAQ:RMBS - Get Free Report) last announced its 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 during the quarter, compared to analysts' expectations of $199.30 million. During the same quarter in the prior year, the business earned $0.53 earnings per share. The company's revenue was up 20.4% on a year-over-year basis. As a group, equities research analysts forecast that Rambus, Inc. will post 2.52 earnings per share for the current year.

Analysts Set New Price Targets

RMBS has been the topic of a number of research analyst reports. Rosenblatt Securities reaffirmed a "buy" rating and set a $165.00 price objective on shares of Rambus in a research report on Tuesday, July 28th. Glj Research set a $165.00 price target on Rambus in a research note on Tuesday, July 28th. Benchmark restated a "buy" rating on shares of Rambus in a report on Tuesday, July 28th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Rambus in a research note on Friday, June 5th. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Rambus has a consensus 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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