Fulcrum Asset Management LLP Buys New Stake in Rambus, Inc. $RMBS

Fulcrum Asset Management LLP purchased a new stake in Rambus, Inc. (NASDAQ:RMBS) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,613 shares of the semiconductor company’s stock, valued at approximately $1,094,000.

Other large investors have also recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Rambus during the second quarter worth $1,853,645,000. EdgePoint Investment Group Inc. raised its position in Rambus by 38.5% during the 1st quarter. EdgePoint Investment Group Inc. now owns 1,947,742 shares of the semiconductor company’s stock worth $167,564,000 after purchasing an additional 541,056 shares during the last quarter. Bank of America Corp DE bought a new position in Rambus during the 2nd quarter worth $161,774,000. Bank of New York Mellon Corp acquired a new position in Rambus during the 2nd quarter worth about $109,940,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Rambus during the 2nd quarter worth about $105,820,000. Institutional investors own 88.54% of the company’s stock.

Analyst Upgrades and Downgrades

RMBS has been the topic of a number of analyst reports. UBS Group set a $165.00 price target on Rambus in a research report on Tuesday, October 27th. Susquehanna restated a “neutral” rating and set a $103.00 price objective (up from $100.00) on shares of Rambus in a research report on Tuesday, October 27th. Glj Research set a $165.00 price objective on Rambus in a research note on Tuesday, July 28th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $165.00 price objective on shares of Rambus in a research note on Tuesday, October 27th. Finally, Wall Street Zen upgraded Rambus from a “hold” rating to a “buy” rating in a report on Saturday, October 31st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $147.00.

Rambus Stock Up 5.7%

Shares of NASDAQ RMBS opened at $85.36 on Thursday. The company has a market capitalization of $9.14 billion, a PE ratio of 32.30 and a beta of 1.93. Rambus, Inc. has a twelve month low of $68.19 and a twelve month high of $174.10. The firm has a fifty day simple moving average of $92.62 and a 200 day simple moving average of $106.70.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings results on Monday, October 26th. The semiconductor company reported $0.84 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $213.21 million. As a group, equities analysts expect that Rambus, Inc. will post 2.64 earnings per share for the current fiscal year.

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.