Rambus (NASDAQ:RMBS) Trading Up 6.2% – Still a Buy?

Rambus Inc. (NASDAQ:RMBSGet Free Report)’s stock price shot up 6.2% on Tuesday . The stock traded as high as $48.02 and last traded at $47.57. 416,536 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 1,559,636 shares. The stock had previously closed at $44.80.

Analyst Ratings Changes

A number of equities analysts recently weighed in on RMBS shares. Rosenblatt Securities restated a “buy” rating and set a $85.00 price target on shares of Rambus in a research report on Tuesday. Susquehanna dropped their price target on Rambus from $75.00 to $66.00 and set a “positive” rating for the company in a research report on Friday, July 26th.

View Our Latest Stock Analysis on RMBS

Rambus Price Performance

The stock has a market cap of $5.37 billion, a PE ratio of 23.87 and a beta of 1.19. The stock’s fifty day moving average is $41.99 and its 200-day moving average is $50.76.

Rambus (NASDAQ:RMBSGet Free Report) last posted its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.12). The firm had revenue of $132.10 million during the quarter, compared to analysts’ expectations of $139.00 million. Rambus had a net margin of 48.31% and a return on equity of 16.74%. The business’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period last year, the company earned $0.36 EPS. On average, sell-side analysts expect that Rambus Inc. will post 1.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. lifted its stake in shares of Rambus by 386.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 288,363 shares of the semiconductor company’s stock valued at $16,944,000 after purchasing an additional 229,066 shares during the last quarter. Magnetar Financial LLC acquired a new position in Rambus in the first quarter valued at about $1,289,000. SG Americas Securities LLC boosted its stake in Rambus by 221.3% during the first quarter. SG Americas Securities LLC now owns 13,357 shares of the semiconductor company’s stock worth $826,000 after buying an additional 9,200 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Rambus by 12.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 371,121 shares of the semiconductor company’s stock worth $22,939,000 after buying an additional 42,432 shares during the period. Finally, Swedbank AB increased its position in shares of Rambus by 56.1% during the second quarter. Swedbank AB now owns 1,549,850 shares of the semiconductor company’s stock valued at $91,069,000 after acquiring an additional 556,850 shares during the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Rambus Company Profile

(Get Free Report)

Rambus Inc provides semiconductor products in the United States, South Korea, Singapore, and internationally. The company offers DDR memory interface chips, including DDR5 and DDR4 memory interface chips to module manufacturers, OEMs, and hyperscalers; silicon IP, such as interface and security IP solutions that move and protect data in advanced data center, government, and automotive applications; and interface IP solutions for high-speed memory and chip-to-chip digital controller IP.

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