Public Employees Retirement System of Ohio Invests $4.35 Million in Rambus, Inc. $RMBS

Key Points

• Public Employees Retirement System of Ohio acquired 32,798 Rambus shares worth approximately $4.35 million during the second quarter. Institutional investors and hedge funds collectively own 88.54% of RMBS.
• Analysts maintain a generally positive view, 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 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.

Public Employees Retirement System of Ohio acquired a new stake in Rambus, Inc. (NASDAQ:RMBS - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm acquired 32,798 shares of the semiconductor company's stock, valued at approximately $4,354,000.

Several other institutional investors also recently bought and sold shares of RMBS. Acumen Wealth Advisors LLC acquired a new stake in shares of Rambus in the 4th quarter worth $25,000. Danske Bank A S acquired a new position in shares of Rambus during the second quarter worth about $27,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Rambus during the fourth quarter worth about $28,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Rambus during the second quarter worth about $41,000. Finally, Western Wealth Management LLC purchased a new position in Rambus during the first quarter worth about $44,000. 88.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RMBS has been the topic of a number of analyst reports. Glj Research set a $165.00 price objective on Rambus in a report on Tuesday, July 28th. Rosenblatt Securities reissued a "buy" rating and set a $165.00 target price on shares of Rambus in a research note on Tuesday, July 28th. Weiss Ratings restated a "hold (c+)" rating on shares of Rambus in a research note on Friday, June 5th. Finally, Benchmark reiterated 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 issued a Hold rating to the stock. According to MarketBeat.com, Rambus has an average rating of "Moderate Buy" and a consensus price target of $145.88.

Rambus Price 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. The firm has a market capitalization of $9.19 billion, a price-to-earnings ratio of 38.86 and a beta of 1.88. Rambus, Inc. has a 12 month low of $72.45 and a 12 month high of $174.10.

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

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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