Rambus, Inc. $RMBS Stock: William Blair Investment Management LLC Grows Stake

William Blair Investment Management LLC raised its holdings in shares of Rambus, Inc. (NASDAQ:RMBS) by 106.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 412,878 shares of the semiconductor company’s stock after acquiring an additional 212,762 shares during the period. William Blair Investment Management LLC owned about 0.39% of Rambus worth $44,079,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Rambus in the 2nd quarter worth approximately $1,853,645,000. EdgePoint Investment Group Inc. grew its holdings in shares of Rambus by 38.5% during the 1st quarter. EdgePoint Investment Group Inc. now owns 1,947,742 shares of the semiconductor company’s stock valued at $167,564,000 after purchasing an additional 541,056 shares during the last quarter. Bank of America Corp DE bought a new position in shares of Rambus during the 2nd quarter valued at $161,774,000. Bank of New York Mellon Corp purchased a new position in Rambus in the 2nd quarter worth $109,940,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Rambus in the 2nd quarter worth $105,820,000. 88.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. UBS Group set a $165.00 price target on shares of Rambus in a research note on Tuesday, October 27th. Evercore reaffirmed an “outperform” rating and set a $150.00 price objective on shares of Rambus in a research note on Tuesday, October 27th. Benchmark reiterated a “buy” rating on shares of Rambus in a report on Tuesday, July 28th. Rosenblatt Securities reissued a “buy” rating and issued a $165.00 target price on shares of Rambus in a research note on Tuesday, October 27th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Rambus in a research note on Wednesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $147.00.

Rambus Stock Down 3.2%

Shares of Rambus stock traded down $2.74 on Friday, hitting $82.23. The stock had a trading volume of 787,879 shares, compared to its average volume of 1,960,973. Rambus, Inc. has a one year low of $68.19 and a one year high of $174.10. The stock has a market cap of $8.81 billion, a price-to-earnings ratio of 33.84 and a beta of 1.93. The stock’s 50-day simple moving average is $92.58 and its two-hundred day simple moving average is $106.39.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings results on Monday, October 26th. The semiconductor company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.05. The company had revenue of $218.29 million during the quarter, compared to analyst estimates of $213.21 million. Rambus had a net margin of 33.40% and a return on equity of 19.43%. As a group, equities analysts predict that Rambus, Inc. will post 2.64 EPS for the current fiscal year.

Rambus Company Profile

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. These solutions serve markets such as data centers, computing, and consumer electronics.