Rambus, Inc. $RMBS Stock: CenterBook Partners LP Raises Position

Key Points

• CenterBook Partners LP increased its Rambus stake by 496.4% in the third quarter, ending the period with 41,557 shares valued at about $4.44 million. Other institutional investors also added shares; institutions collectively own 88.54% of the company.
• Rambus beat quarterly estimates, reporting EPS of $0.84 versus $0.79 expected and revenue of $218.29 million versus $213.21 million expected.
• Analysts give Rambus a Moderate Buy consensus rating and an average $147 price target. Shares opened at $74.53, well below their 12-month high of $174.10.

CenterBook Partners LP lifted its stake in shares of Rambus, Inc. (NASDAQ:RMBS - Free Report) by 496.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 41,557 shares of the semiconductor company's stock after acquiring an additional 34,589 shares during the period. CenterBook Partners LP's holdings in Rambus were worth $4,437,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kestra Advisory Services LLC raised its stake in Rambus by 32.7% in the 3rd quarter. Kestra Advisory Services LLC now owns 2,197 shares of the semiconductor company's stock valued at $235,000 after purchasing an additional 541 shares during the last quarter. Kestra Private Wealth Services LLC boosted its stake in shares of Rambus by 8.7% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 6,987 shares of the semiconductor company's stock worth $746,000 after purchasing an additional 561 shares during the last quarter. Chicago Partners Investment Group LLC boosted its stake in shares of Rambus by 107.1% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 5,469 shares of the semiconductor company's stock worth $468,000 after purchasing an additional 2,828 shares during the last quarter. Covestor Ltd grew its holdings in shares of Rambus by 180.5% during the third quarter. Covestor Ltd now owns 1,108 shares of the semiconductor company's stock worth $119,000 after buying an additional 713 shares in the last quarter. Finally, Provenance Wealth Advisors LLC acquired a new position in shares of Rambus in the third quarter valued at approximately $29,000. Hedge funds and other institutional investors own 88.54% of the company's stock.

Rambus Price Performance

NASDAQ RMBS opened at $74.53 on Friday. Rambus, Inc. has a 12 month low of $68.19 and a 12 month high of $174.10. The company has a 50-day moving average of $92.82 and a 200-day moving average of $107.30. The company has a market cap of $7.98 billion, a P/E ratio of 30.67 and a beta of 1.93.

Rambus (NASDAQ:RMBS - Get Free Report) last released its earnings results on Monday, October 26th. The semiconductor company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.05. Rambus had a net margin of 33.40% and a return on equity of 19.43%. The business had revenue of $218.29 million for the quarter, compared to analysts' expectations of $213.21 million. As a group, equities research analysts anticipate that Rambus, Inc. will post 2.64 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on RMBS shares. Benchmark reissued a "buy" rating on shares of Rambus in a research note on Tuesday, July 28th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Rambus in a research note on Wednesday, September 2nd. Zacks Research upgraded Rambus from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 28th. Wall Street Zen raised Rambus from a "hold" rating to a "buy" rating in a research note on Saturday, October 31st. Finally, Evercore reissued an "outperform" rating and set a $150.00 price target on shares of Rambus in a research note on Tuesday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $147.00.

Rambus Profile

Rambus Inc develops semiconductor technology used to move and protect data in electronic systems. Its business includes memory-interface chips and silicon intellectual property licensed to semiconductor manufacturers and other technology companies.

The company's products include memory interface components for advanced memory systems, such as registered clock drivers and data buffers, as well as security technologies for applications including cryptography and hardware-based protection.

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