Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new position in shares of Rambus Inc. (NASDAQ:RMBS) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 144,600 shares of the semiconductor company’s stock, valued at approximately $1,942,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp owned about 0.13% of Rambus as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in RMBS. US Bancorp DE raised its position in shares of Rambus by 4,945.2% during the 1st quarter. US Bancorp DE now owns 10,494 shares of the semiconductor company’s stock worth $141,000 after purchasing an additional 10,286 shares during the last quarter. Zeke Capital Advisors LLC acquired a new stake in Rambus in the 1st quarter valued at about $148,000. Harvest Management LLC acquired a new stake in Rambus in the 4th quarter valued at about $213,000. Xact Kapitalforvaltning AB acquired a new stake in Rambus in the 4th quarter valued at about $240,000. Finally, Profund Advisors LLC raised its holdings in Rambus by 35.4% in the 1st quarter. Profund Advisors LLC now owns 22,044 shares of the semiconductor company’s stock valued at $296,000 after acquiring an additional 5,762 shares during the last quarter. Hedge funds and other institutional investors own 81.62% of the company’s stock.
In other news, SVP Jae Kim sold 2,297 shares of the stock in a transaction that occurred on Friday, June 1st. The shares were sold at an average price of $13.50, for a total value of $31,009.50. Following the completion of the sale, the senior vice president now owns 128,684 shares of the company’s stock, valued at approximately $1,737,234. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 3.20% of the company’s stock.
Rambus opened at $13.21 on Monday, MarketBeat.com reports. Rambus Inc. has a 1-year low of $11.30 and a 1-year high of $15.50. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.44 and a quick ratio of 3.40. The company has a market capitalization of $1.43 billion, a PE ratio of 29.36, a PEG ratio of 2.00 and a beta of 0.41.
Rambus (NASDAQ:RMBS) last posted its quarterly earnings results on Monday, May 7th. The semiconductor company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.31). Rambus had a negative net margin of 17.65% and a positive return on equity of 8.46%. The firm had revenue of $100.50 million during the quarter, compared to analysts’ expectations of $97.00 million. During the same period last year, the company earned $0.17 EPS. The business’s quarterly revenue was up 3.2% on a year-over-year basis. equities analysts forecast that Rambus Inc. will post 0.67 earnings per share for the current fiscal year.
A number of analysts have commented on the stock. Zacks Investment Research upgraded shares of Rambus from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a report on Friday, May 11th. BidaskClub downgraded shares of Rambus from a “hold” rating to a “sell” rating in a report on Wednesday, June 13th. Deutsche Bank assumed coverage on shares of Rambus in a report on Tuesday, March 27th. They issued a “buy” rating and a $17.00 price objective for the company. Finally, Credit Suisse Group assumed coverage on shares of Rambus in a report on Tuesday, May 29th. They issued a “neutral” rating and a $16.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $16.24.
Rambus Inc provides semiconductor products in South Korea and internationally. The company operates through Memory and Interfaces, Security, and Other segments. It focuses on the design, development, and manufacturing through partnerships and licensing of technology and solutions related to memory and interfaces; and design, development, deployment, and licensing of technologies for chip, system and in-field application security, anti-counterfeiting, smart ticketing, and mobile payments.
Want to see what other hedge funds are holding RMBS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rambus Inc. (NASDAQ:RMBS).
Receive News & Ratings for Rambus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rambus and related companies with MarketBeat.com's FREE daily email newsletter.