Cubist Systematic Strategies LLC Grows Holdings in Rambus Inc. (NASDAQ:RMBS)

Cubist Systematic Strategies LLC boosted its holdings in Rambus Inc. (NASDAQ:RMBS) by 86.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 181,858 shares of the semiconductor company’s stock after purchasing an additional 84,367 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.16% of Rambus worth $2,764,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Advisor Group Holdings Inc. raised its position in Rambus by 8.7% in the 2nd quarter. Advisor Group Holdings Inc. now owns 8,794 shares of the semiconductor company’s stock valued at $134,000 after purchasing an additional 702 shares during the last quarter. IFP Advisors Inc raised its position in Rambus by 53.0% in the 2nd quarter. IFP Advisors Inc now owns 2,347 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 813 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in Rambus by 16.9% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 6,347 shares of the semiconductor company’s stock valued at $70,000 after purchasing an additional 918 shares during the last quarter. Mutual of America Capital Management LLC raised its position in Rambus by 23.7% in the 1st quarter. Mutual of America Capital Management LLC now owns 4,907 shares of the semiconductor company’s stock valued at $54,000 after purchasing an additional 941 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Rambus by 28.2% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 4,611 shares of the semiconductor company’s stock worth $51,000 after buying an additional 1,013 shares during the last quarter. Hedge funds and other institutional investors own 82.40% of the company’s stock.

A number of equities analysts have commented on the stock. Zacks Investment Research downgraded shares of Rambus from a “hold” rating to a “sell” rating in a research report on Wednesday, August 5th. BidaskClub downgraded shares of Rambus from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 13th. Deutsche Bank upped their price objective on shares of Rambus from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Finally, Jefferies Financial Group upped their price objective on shares of Rambus from $14.00 to $17.00 and gave the stock a “hold” rating in a research report on Wednesday, June 17th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $17.22.

In other news, Director Eric B. Stang sold 17,500 shares of the company’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $14.74, for a total transaction of $257,950.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders have sold 19,459 shares of company stock worth $285,730. Corporate insiders own 1.10% of the company’s stock.

NASDAQ:RMBS opened at $13.73 on Wednesday. The company has a quick ratio of 8.32, a current ratio of 8.46 and a debt-to-equity ratio of 0.16. Rambus Inc. has a fifty-two week low of $9.01 and a fifty-two week high of $16.98. The stock has a market cap of $1.56 billion, a PE ratio of -33.49, a price-to-earnings-growth ratio of 0.94 and a beta of 0.93. The firm’s fifty day simple moving average is $14.10 and its 200-day simple moving average is $13.77.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings results on Monday, August 3rd. The semiconductor company reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.34). Rambus had a negative return on equity of 2.97% and a negative net margin of 18.91%. The company had revenue of $59.90 million for the quarter, compared to analyst estimates of $83.30 million. During the same period last year, the company earned $0.22 earnings per share. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities analysts anticipate that Rambus Inc. will post 0.94 earnings per share for the current year.

Rambus Company Profile

Rambus Inc provides semiconductor products in the United States, Japan, Europe, Taiwan, China, South Korea, Canada, Singapore, Asia, and internationally. The company operates through three divisions: Memory and Interfaces, Rambus Security, and Emerging Solutions. The Memory and Interfaces division engages in the design, development, and manufacturing through partnerships and licensing of technology and solutions related to memory and interfaces.

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Institutional Ownership by Quarter for Rambus (NASDAQ:RMBS)

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