Capstone Capital Management Ltd Makes New $906,000 Investment in Rambus, Inc. $RMBS

Capstone Capital Management Ltd bought a new position in Rambus, Inc. (NASDAQ:RMBS) during the third quarter, HoldingsChannel.com reports. The fund bought 8,491 shares of the semiconductor company’s stock, valued at approximately $906,000.

Several other hedge funds have also recently made changes to their positions in RMBS. BlackRock Inc. bought a new position in shares of Rambus in the 2nd quarter valued at about $1,853,645,000. EdgePoint Investment Group Inc. increased its stake in Rambus by 38.5% during the first quarter. EdgePoint Investment Group Inc. now owns 1,947,742 shares of the semiconductor company’s stock worth $167,564,000 after acquiring an additional 541,056 shares during the last quarter. Bank of America Corp DE bought a new stake in Rambus during the second quarter worth approximately $161,774,000. Swedbank AB increased its stake in Rambus by 14.7% during the first quarter. Swedbank AB now owns 1,563,000 shares of the semiconductor company’s stock worth $134,465,000 after acquiring an additional 200,000 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Rambus during the second quarter valued at approximately $109,940,000. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Rambus Trading Down 0.3%

RMBS stock opened at $92.42 on Wednesday. Rambus, Inc. has a 12 month low of $77.89 and a 12 month high of $174.10. The company has a 50-day moving average price of $94.90 and a 200 day moving average price of $112.18. The stock has a market cap of $10.02 billion, a PE ratio of 42.39 and a beta of 1.85.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings data 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 company had revenue of $207.39 million for the quarter, compared to analyst estimates of $199.30 million. Rambus had a net margin of 31.69% and a return on equity of 17.89%. The firm’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 EPS. Sell-side analysts forecast that Rambus, Inc. will post 2.52 EPS for the current year.

Analyst Upgrades and Downgrades

RMBS has been the subject of several analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rambus in a research note on Wednesday, September 2nd. Glj Research set a $165.00 target price on Rambus in a research report on Tuesday, July 28th. Rosenblatt Securities restated a “buy” rating and set a $165.00 price target on shares of Rambus in a report on Tuesday, July 28th. Finally, Benchmark restated a “buy” rating on shares of Rambus in a report on Tuesday, July 28th. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $145.88.

Rambus Profile

Rambus Inc is a semiconductor technology company that develops and licenses intellectual property for memory and data-processing systems. Its technologies are designed to support higher bandwidth, improved performance, reliability and security across data centers, artificial intelligence and high-performance computing platforms, as well as other computing and communications applications.

The company offers memory interface products and intellectual property, including solutions for DDR5 and other advanced memory architectures, high-bandwidth memory, memory modules and associated system components.