California State Teachers Retirement System Increases Position in Rambus, Inc. $RMBS

California State Teachers Retirement System boosted its position in shares of Rambus, Inc. (NASDAQ:RMBS) by 13,305.0% in the second quarter, HoldingsChannel.com reports. The fund owned 16,648,384 shares of the semiconductor company’s stock after purchasing an additional 16,524,189 shares during the period. California State Teachers Retirement System owned 0.15% of Rambus worth $2,209,906,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Acumen Wealth Advisors LLC acquired a new stake in shares of Rambus during the fourth quarter worth about $25,000. Danske Bank A S acquired a new position in shares of Rambus in the second quarter worth $27,000. University of Texas Texas AM Investment Management Co. acquired a new stake in Rambus in the 4th quarter valued at about $28,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Rambus in the 2nd quarter valued at about $41,000. Finally, Western Wealth Management LLC purchased a new position in shares of Rambus in the 1st quarter valued at about $44,000. 88.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Rambus Stock Performance

Shares of NASDAQ:RMBS opened at $86.97 on Friday. Rambus, Inc. has a one year low of $77.89 and a one year high of $174.10. The company has a 50-day simple moving average of $95.59 and a 200-day simple moving average of $110.84. The stock has a market capitalization of $9.43 billion, a price-to-earnings ratio of 39.89 and a beta of 1.88.

Rambus (NASDAQ:RMBS) last released its earnings results on Monday, July 27th. The semiconductor company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.05. Rambus had a return on equity of 17.89% and a net margin of 31.69%.The business had revenue of $207.39 million for the quarter, compared to analyst estimates of $199.30 million. During the same quarter in the previous year, the company posted $0.53 earnings per share. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, research analysts forecast that Rambus, Inc. will post 2.52 EPS for the current fiscal year.

Rambus Company Profile

Rambus Inc (NASDAQ: RMBS) is a technology company that develops semiconductor and intellectual property solutions for the data-intensive computing market. Its business focuses on improving the performance, capacity, security and energy efficiency of memory and other components used in data centers, personal computers, networking equipment and other electronic systems.

The company offers memory interface chips and related products, including registered clock drivers, memory interface chips and power-management solutions designed for high-performance memory modules.