Empowered Funds LLC Makes New Investment in Rambus, Inc. $RMBS

Empowered Funds LLC purchased a new position in shares of Rambus, Inc. (NASDAQ:RMBS) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,637 shares of the semiconductor company’s stock, valued at approximately $1,146,000.

Other large investors also recently modified their holdings of the company. United Capital Financial Advisors LLC bought a new position in Rambus in the second quarter valued at about $461,000. Equitable Holdings Inc. bought a new position in Rambus during the 2nd quarter worth $686,000. Centaurus Financial Inc. acquired a new position in Rambus during the 2nd quarter worth about $118,000. Jefferies Financial Group Inc. acquired a new position in Rambus during the 2nd quarter worth about $1,191,000. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Rambus in the 2nd quarter valued at about $4,354,000. 88.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Benchmark restated a “buy” rating on shares of Rambus in a research report on Tuesday, July 28th. Rosenblatt Securities reissued a “buy” rating and set a $165.00 target price on shares of Rambus in a research report on Tuesday, July 28th. Weiss Ratings restated a “hold (c+)” rating on shares of Rambus in a research report on Wednesday. Finally, Glj Research set a $165.00 price objective on shares of Rambus in a research note 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 stock currently has an average rating of “Moderate Buy” and a consensus target price of $145.88.

Rambus Stock Performance

Shares of RMBS stock opened at $85.46 on Friday. Rambus, Inc. has a fifty-two week low of $72.45 and a fifty-two week high of $174.10. The stock has a 50 day simple moving average of $99.07 and a two-hundred day simple moving average of $111.42. The company has a market cap of $9.27 billion, a P/E ratio of 39.20 and a beta of 1.88.

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

Rambus Company Profile

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.