One Capital Management LLC Buys New Holdings in Rambus, Inc. $RMBS

Key Points

• One Capital Management initiated a Rambus position by buying 34,586 shares valued at approximately $4.6 million. Institutional investors and hedge funds collectively own 88.54% of RMBS.
• Analyst sentiment remains favorable, with six Buy ratings and four Hold ratings producing a consensus “Moderate Buy” rating and an average price target of $145.88.
• Rambus reported stronger-than-expected quarterly results, posting $0.77 in EPS and $207.39 million in revenue, with revenue up 20.4% year over year.

One Capital Management LLC purchased a new position in Rambus, Inc. (NASDAQ:RMBS - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 34,586 shares of the semiconductor company's stock, valued at approximately $4,591,000.

A number of other institutional investors also recently modified their holdings of RMBS. California State Teachers Retirement System grew its position 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 during the period. BlackRock Inc. acquired a new position in shares of Rambus during the second quarter valued at about $1,853,645,000. Invesco Ltd. increased its position in shares of Rambus by 70.6% during the fourth 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. Norges Bank acquired a new stake in shares of Rambus in the 4th quarter worth about $156,356,000. Finally, Bank of America Corp DE acquired a new stake in shares of Rambus in the 2nd quarter worth about $161,774,000. 88.54% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Rambus Stock Up 0.9%

Rambus stock opened at $87.65 on Thursday. The stock has a market cap of $9.51 billion, a P/E ratio of 40.21 and a beta of 1.88. The company's 50 day moving average price is $96.66 and its two-hundred day moving average price is $111.13. Rambus, Inc. has a 52 week low of $75.02 and a 52 week high of $174.10.

Rambus (NASDAQ:RMBS - Get Free Report) last issued its quarterly earnings results on Monday, July 27th. The semiconductor company reported $0.77 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 business 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 posted $0.53 earnings per share. Rambus's quarterly revenue was up 20.4% compared to the same quarter last year. On average, equities analysts anticipate that Rambus, Inc. will post 2.52 EPS for the current year.

Rambus Profile

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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