Engineers Gate Manager LP Purchases Shares of 35,888 Rambus, Inc. $RMBS

Key Points

• Engineers Gate Manager LP acquired 35,888 Rambus shares in the second quarter, valued at approximately $4.8 million. Institutional investors and hedge funds collectively own 88.54% of the company.
• Analysts maintain a generally positive outlook, with six Buy ratings and four Hold ratings. Rambus has a consensus rating of “Moderate Buy” and an average price target of $145.88.
• Rambus beat quarterly expectations, reporting $0.77 in earnings per share versus a $0.72 estimate and $207.39 million in revenue, up 20.4% year over year. Shares opened at $86.97, well below their 52-week high of $174.10.

Engineers Gate Manager LP acquired a new position in shares of Rambus, Inc. (NASDAQ:RMBS - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 35,888 shares of the semiconductor company's stock, valued at approximately $4,764,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. AMJ Financial Wealth Management grew its position in shares of Rambus by 252.0% during the 4th quarter. AMJ Financial Wealth Management now owns 94,946 shares of the semiconductor company's stock worth $8,725,000 after purchasing an additional 67,973 shares in the last quarter. State of Wyoming bought a new stake in shares of Rambus in the second quarter valued at approximately $1,825,000. Handelsbanken Fonder AB boosted its stake in shares of Rambus by 28.1% in the second quarter. Handelsbanken Fonder AB now owns 150,857 shares of the semiconductor company's stock valued at $20,025,000 after buying an additional 33,060 shares during the period. BlackRock Inc. acquired a new stake in Rambus during the second quarter worth approximately $1,853,645,000. Finally, California Public Employees Retirement System grew its position in Rambus by 15.8% during the first quarter. California Public Employees Retirement System now owns 227,271 shares of the semiconductor company's stock worth $19,552,000 after buying an additional 31,064 shares in the last quarter. Institutional investors and hedge funds own 88.54% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on RMBS shares. Weiss Ratings reissued a "hold (c+)" rating on shares of Rambus in a report on Wednesday, September 2nd. 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. Benchmark reiterated a "buy" rating on shares of Rambus in a research note on Tuesday, July 28th. Finally, Glj Research set a $165.00 target price on shares of Rambus in a report on Tuesday, July 28th. 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, Rambus has a consensus rating of "Moderate Buy" and an average target price of $145.88.

Rambus Stock Performance

Shares of RMBS opened at $86.97 on Friday. Rambus, Inc. has a 52-week low of $77.89 and a 52-week high of $174.10. The firm has a market cap of $9.43 billion, a price-to-earnings ratio of 39.89 and a beta of 1.88. The business's fifty day moving average is $95.59 and its 200-day moving average is $110.84.

Rambus (NASDAQ:RMBS - Get Free Report) last announced its quarterly earnings data on Monday, July 27th. The semiconductor company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.05. Rambus had a return on equity of 17.89% and a net margin of 31.69%.The business had revenue of $207.39 million during the quarter, compared to the consensus estimate of $199.30 million. During the same period in the prior year, the company earned $0.53 EPS. Rambus's revenue for the quarter was up 20.4% on a year-over-year basis. As a group, research analysts forecast 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.