California State Teachers Retirement System Boosts Stock Holdings in Rambus, Inc. $RMBS

Key Points

• California State Teachers Retirement System increased its Rambus stake by 13,305% in the second quarter, acquiring 16.5 million additional shares. It now owns 16.65 million shares, or approximately 15.35% of the company, valued at $2.21 billion.
• Analysts maintain a generally positive outlook, with six Buy ratings and four Holds. Rambus has an average “Moderate Buy” rating and an average price target of $145.88.
• Rambus exceeded quarterly expectations, reporting $0.77 in EPS versus a $0.72 consensus estimate and $207.39 million in revenue. Revenue increased 20.4% year over year, although the stock remains well below its 52-week high of $174.10.

California State Teachers Retirement System raised its position in shares of Rambus, Inc. (NASDAQ:RMBS - Free Report) by 13,305.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,648,384 shares of the semiconductor company's stock after buying an additional 16,524,189 shares during the quarter. California State Teachers Retirement System owned about 15.35% of Rambus worth $2,209,906,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of RMBS. Acumen Wealth Advisors LLC bought a new stake in Rambus in the fourth quarter worth about $25,000. Danske Bank A S purchased a new stake in Rambus in the 2nd quarter valued at about $27,000. University of Texas Texas AM Investment Management Co. bought a new position in Rambus in the 4th quarter worth about $28,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Rambus during the 2nd quarter worth $41,000. Finally, Western Wealth Management LLC purchased a new position in Rambus during the 1st quarter valued at about $44,000. 88.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Rambus Stock Up 1.9%

Rambus stock opened at $86.97 on Friday. The company has a fifty day simple moving average of $95.59 and a 200-day simple moving average of $110.84. The firm has a market capitalization of $9.43 billion, a price-to-earnings ratio of 39.89 and a beta of 1.88. Rambus, Inc. has a 52-week low of $77.89 and a 52-week high of $174.10.

Rambus (NASDAQ:RMBS - Get Free Report) last posted its quarterly earnings results on Monday, July 27th. The semiconductor company reported $0.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.72 by $0.05. The business had revenue of $207.39 million during the quarter, compared to analyst estimates of $199.30 million. Rambus had a return on equity of 17.89% and a net margin of 31.69%.The business's revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.53 earnings per share. On average, research analysts anticipate that Rambus, Inc. will post 2.52 EPS for the current fiscal year.

Rambus Company Profile

Rambus Inc NASDAQ: RMBS is a technology company that develops semiconductor and intellectual property solutions for the data-intensive computing market. Its business focuses on improving the performance, capacity, security and energy efficiency of memory and other components used in data centers, personal computers, networking equipment and other electronic systems.

The company offers memory interface chips and related products, including registered clock drivers, memory interface chips and power-management solutions designed for high-performance memory modules.

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