Rambus, Inc. $RMBS Shares Newly Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Rambus, Inc. (NASDAQ:RMBS) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 13,989 shares of the semiconductor company’s stock, valued at approximately $1,493,000.

A number of other hedge funds have also made changes to their positions in the business. BlackRock Inc. acquired a new stake in shares of Rambus during the second quarter worth about $1,853,645,000. EdgePoint Investment Group Inc. increased its position in Rambus by 38.5% during the first quarter. EdgePoint Investment Group Inc. now owns 1,947,742 shares of the semiconductor company’s stock worth $167,564,000 after buying an additional 541,056 shares during the period. Bank of America Corp DE increased its position in Rambus by 9.0% during the first quarter. Bank of America Corp DE now owns 1,361,570 shares of the semiconductor company’s stock worth $117,136,000 after buying an additional 111,928 shares during the period. Bessemer Group Inc. increased its position in Rambus by 1,009.5% during the first quarter. Bessemer Group Inc. now owns 1,039,905 shares of the semiconductor company’s stock worth $89,463,000 after buying an additional 946,177 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in Rambus in the second quarter valued at approximately $109,940,000. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Rosenblatt Securities reissued a “buy” rating and issued a $165.00 price objective on shares of Rambus in a report on Tuesday, October 27th. Wall Street Zen raised shares of Rambus from a “hold” rating to a “buy” rating in a report on Saturday, October 31st. Glj Research set a $165.00 target price on shares of Rambus in a report on Tuesday, July 28th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rambus in a research report on Wednesday, September 2nd. Finally, Zacks Research upgraded shares of Rambus from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $147.00.

Rambus Trading Up 7.0%

NASDAQ:RMBS opened at $74.53 on Friday. Rambus, Inc. has a 12-month low of $68.19 and a 12-month high of $174.10. The stock’s 50 day simple moving average is $92.82 and its 200-day simple moving average is $107.30. The firm has a market cap of $7.98 billion, a P/E ratio of 30.67 and a beta of 1.93.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings results on Monday, October 26th. The semiconductor company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.05. Rambus had a return on equity of 19.43% and a net margin of 33.40%. The firm had revenue of $218.29 million during the quarter, compared to the consensus estimate of $213.21 million. Research analysts forecast that Rambus, Inc. will post 2.64 EPS for the current fiscal year.

About Rambus

Rambus Inc develops semiconductor technology used to move and protect data in electronic systems. Its business includes memory-interface chips and silicon intellectual property licensed to semiconductor manufacturers and other technology companies.

The company’s products include memory interface components for advanced memory systems, such as registered clock drivers and data buffers, as well as security technologies for applications including cryptography and hardware-based protection.