7,365 Rambus, Inc. $RMBS Shares Purchased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund boosted its position in Rambus, Inc. (NASDAQ:RMBS) by 26.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,798 shares of the semiconductor company’s stock after buying an additional 7,365 shares during the period. Illinois Municipal Retirement Fund’s holdings in Rambus were worth $3,715,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hsbc Holdings PLC boosted its holdings in shares of Rambus by 658.6% in the 2nd quarter. Hsbc Holdings PLC now owns 48,013 shares of the semiconductor company’s stock valued at $6,110,000 after acquiring an additional 41,684 shares during the last quarter. Engineers Gate Manager LP purchased a new position in shares of Rambus during the second quarter worth $4,764,000. State of Wyoming purchased a new position in shares of Rambus during the second quarter worth $1,825,000. Handelsbanken Fonder AB lifted its position in Rambus by 28.1% during the second quarter. Handelsbanken Fonder AB now owns 150,857 shares of the semiconductor company’s stock valued at $20,025,000 after purchasing an additional 33,060 shares during the period. Finally, BlackRock Inc. acquired a new position in Rambus during the second quarter valued at $1,853,645,000. Institutional investors and hedge funds own 88.54% of the company’s stock.

Rambus Stock Performance

NASDAQ RMBS traded down $2.74 during mid-day trading on Friday, reaching $82.23. 787,879 shares of the stock were exchanged, compared to its average volume of 1,960,973. The business’s 50 day moving average is $92.58 and its 200-day moving average is $106.39. Rambus, Inc. has a 1 year low of $68.19 and a 1 year high of $174.10. The company has a market capitalization of $8.81 billion, a P/E ratio of 33.84 and a beta of 1.93.

Rambus (NASDAQ:RMBS) last posted its earnings results on Monday, October 26th. The semiconductor company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.05. Rambus had a return on equity of 19.43% and a net margin of 33.40%. The firm had revenue of $218.29 million for the quarter, compared to analysts’ expectations of $213.21 million. Equities analysts predict that Rambus, Inc. will post 2.64 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on RMBS shares. Evercore reaffirmed an “outperform” rating and issued a $150.00 price target on shares of Rambus in a report on Tuesday, October 27th. Zacks Research upgraded Rambus from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 28th. Weiss Ratings reissued a “hold (c+)” rating on shares of Rambus in a report on Wednesday, September 2nd. Benchmark reissued a “buy” rating on shares of Rambus in a report on Tuesday, July 28th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $165.00 target price on shares of Rambus in a research note on Tuesday, October 27th. One investment 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 company’s stock. According to data from MarketBeat.com, Rambus currently has an average rating of “Moderate Buy” and an average price target of $147.00.

Rambus Company 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. These solutions serve markets such as data centers, computing, and consumer electronics.