Illinois Municipal Retirement Fund Has $1.93 Million Stock Position in Rambus, Inc. $RMBS

Illinois Municipal Retirement Fund boosted its position in shares of Rambus, Inc. (NASDAQ:RMBS) by 98.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,495 shares of the semiconductor company’s stock after purchasing an additional 9,190 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Rambus were worth $1,927,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in RMBS. Hussman Strategic Advisors Inc. bought a new position in shares of Rambus during the 3rd quarter valued at about $1,094,000. Nordea Investment Management AB increased its stake in Rambus by 1,216.0% during the 2nd quarter. Nordea Investment Management AB now owns 69,116 shares of the semiconductor company’s stock worth $4,381,000 after purchasing an additional 63,864 shares in the last quarter. Oak Grove Capital LLC acquired a new stake in Rambus during the 2nd quarter worth approximately $519,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Rambus by 1,320.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 129,676 shares of the semiconductor company’s stock valued at $13,512,000 after buying an additional 120,549 shares in the last quarter. Finally, CloudAlpha Capital Management Limited Hong Kong acquired a new position in shares of Rambus in the third quarter valued at approximately $17,276,000. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Rambus Stock Performance

Shares of NASDAQ RMBS opened at $101.95 on Tuesday. The stock has a 50 day moving average price of $102.07 and a 200 day moving average price of $95.08. Rambus, Inc. has a 52 week low of $40.12 and a 52 week high of $135.75. The stock has a market capitalization of $10.97 billion, a PE ratio of 48.32 and a beta of 1.53.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings results on Monday, February 2nd. The semiconductor company reported $0.68 earnings per share for the quarter, hitting the consensus estimate of $0.68. Rambus had a return on equity of 17.69% and a net margin of 32.57%.The firm had revenue of $190.24 million for the quarter, compared to analyst estimates of $188.21 million. As a group, research analysts forecast that Rambus, Inc. will post 1.89 EPS for the current year.

Analyst Upgrades and Downgrades

RMBS has been the topic of several research reports. Evercore cut their price objective on shares of Rambus from $126.00 to $119.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 3rd. Rosenblatt Securities restated a “buy” rating and issued a $130.00 price target on shares of Rambus in a report on Tuesday, February 3rd. Zacks Research upgraded Rambus to a “hold” rating in a report on Monday, January 26th. Jefferies Financial Group raised Rambus to a “strong-buy” rating in a research report on Tuesday, October 28th. Finally, William Blair started coverage on Rambus in a research report on Thursday, January 22nd. They set an “outperform” rating for the company. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $105.71.

About Rambus

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.