Empowered Funds LLC Acquires New Shares in Rambus, Inc. $RMBS

Empowered Funds LLC bought a new stake in Rambus, Inc. (NASDAQ:RMBS) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,637 shares of the semiconductor company’s stock, valued at approximately $1,146,000.

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. bought a new stake in Rambus during the 2nd quarter worth approximately $1,853,645,000. Invesco Ltd. raised its holdings 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 during the period. Norges Bank bought a new stake in Rambus in the 4th quarter valued at $156,356,000. Bank of America Corp DE bought a new stake in Rambus in the 2nd quarter valued at $161,774,000. Finally, Bessemer Group Inc. boosted its stake in Rambus by 1,009.5% in the 1st quarter. Bessemer Group Inc. now owns 1,039,905 shares of the semiconductor company’s stock worth $89,463,000 after purchasing an additional 946,177 shares during the period. Institutional investors and hedge funds own 88.54% of the company’s stock.

Rambus Price Performance

Shares of NASDAQ RMBS opened at $85.46 on Friday. The business has a fifty day moving average price of $99.07 and a two-hundred day moving average price of $111.42. The stock has a market capitalization of $9.27 billion, a PE ratio of 39.20 and a beta of 1.88. Rambus, Inc. has a fifty-two week low of $72.45 and a fifty-two week high of $174.10.

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

Analysts Set New Price Targets

Several research firms have recently weighed in on RMBS. 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 reaffirmed a “buy” rating on shares of Rambus in a report on Tuesday, July 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rambus in a research report on Wednesday. Finally, Glj Research set a $165.00 price objective on Rambus in a report on Tuesday, July 28th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.88.

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.