Capstone Capital Management Ltd Buys 8,491 Shares of Rambus, Inc. $RMBS

Capstone Capital Management Ltd purchased a new stake in shares of Rambus, Inc. (NASDAQ:RMBS) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 8,491 shares of the semiconductor company’s stock, valued at approximately $906,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. BlackRock Inc. bought a new position in shares of Rambus in the second quarter worth about $1,853,645,000. Bank of America Corp DE purchased a new stake in shares of Rambus in the second quarter worth $161,774,000. Bessemer Group Inc. increased its stake in shares of Rambus by 1,009.5% in the first quarter. Bessemer Group Inc. now owns 1,039,905 shares of the semiconductor company’s stock worth $89,463,000 after purchasing an additional 946,177 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Rambus in the second quarter worth $109,940,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Rambus during the 2nd quarter valued at $105,820,000. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Stock Performance

RMBS stock opened at $92.42 on Wednesday. The company’s fifty day moving average price is $94.90 and its 200-day moving average price is $112.18. Rambus, Inc. has a one year low of $77.89 and a one year high of $174.10. The company has a market capitalization of $10.02 billion, a PE ratio of 42.39 and a beta of 1.85.

Rambus (NASDAQ:RMBS) last posted its earnings results on Monday, July 27th. The semiconductor company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.05. Rambus had a net margin of 31.69% and a return on equity of 17.89%. The company had revenue of $207.39 million during the quarter, compared to analysts’ expectations of $199.30 million. During the same period last year, the company posted $0.53 earnings per share. Rambus’s quarterly revenue was up 20.4% on a year-over-year basis. On average, research analysts predict that Rambus, Inc. will post 2.52 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

About Rambus

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.