Vanguard Group Inc. Has $1.32 Billion Stake in Rambus, Inc. $RMBS

Vanguard Group Inc. grew its position in Rambus, Inc. (NASDAQ:RMBS) by 1.1% during the third quarter, HoldingsChannel.com reports. The firm owned 12,701,773 shares of the semiconductor company’s stock after buying an additional 140,948 shares during the quarter. Vanguard Group Inc. owned 0.12% of Rambus worth $1,323,525,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in Rambus in the 2nd quarter valued at approximately $126,268,000. EdgePoint Investment Group Inc. grew its stake in shares of Rambus by 138.4% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 2,787,327 shares of the semiconductor company’s stock worth $178,445,000 after acquiring an additional 1,618,133 shares in the last quarter. Westwood Holdings Group Inc. raised its holdings in shares of Rambus by 41.0% in the second quarter. Westwood Holdings Group Inc. now owns 1,737,062 shares of the semiconductor company’s stock valued at $111,207,000 after purchasing an additional 504,852 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Rambus by 192.8% in the second quarter. AQR Capital Management LLC now owns 701,746 shares of the semiconductor company’s stock worth $44,926,000 after purchasing an additional 462,116 shares in the last quarter. Finally, Raymond James Financial Inc. lifted its position in shares of Rambus by 46.0% in the second quarter. Raymond James Financial Inc. now owns 1,372,109 shares of the semiconductor company’s stock worth $87,842,000 after purchasing an additional 432,397 shares in the last quarter. 88.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on RMBS. William Blair assumed coverage on shares of Rambus in a research note on Thursday, January 22nd. They issued an “outperform” rating on the stock. Jefferies Financial Group upgraded Rambus to a “strong-buy” rating in a report on Tuesday, October 28th. Zacks Research upgraded Rambus to a “hold” rating in a report on Monday, January 26th. Evercore reduced their price target on Rambus from $126.00 to $119.00 and set an “outperform” rating for the company in a research report on Tuesday, February 3rd. Finally, Wells Fargo & Company raised their price target on Rambus from $73.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday, October 28th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Rambus presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.71.

Rambus Stock Performance

Shares of RMBS stock opened at $102.64 on Friday. Rambus, Inc. has a 52-week low of $40.12 and a 52-week high of $135.75. The stock has a market cap of $11.06 billion, a price-to-earnings ratio of 48.64 and a beta of 1.53. The firm’s 50-day moving average is $102.10 and its 200-day moving average is $95.60.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings results on Monday, February 2nd. The semiconductor company reported $0.68 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.68. The firm had revenue of $190.24 million for the quarter, compared to the consensus estimate of $188.21 million. Rambus had a return on equity of 17.69% and a net margin of 32.57%. Sell-side analysts predict that Rambus, Inc. will post 1.89 EPS for the current fiscal year.

Rambus Company 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.