Rambus, Inc. (NASDAQ:RMBS – Get Free Report)’s stock price shot up 5.4% during trading on Monday. The company traded as high as $92.41 and last traded at $91.93. Approximately 217,993 shares were traded during trading, a decline of 91% from the average session volume of 2,562,196 shares. The stock had previously closed at $87.25.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on RMBS shares. Glj Research set a $165.00 price target on Rambus in a report on Tuesday, July 28th. Weiss Ratings restated a “hold (c+)” rating on shares of Rambus in a research note on Wednesday, September 2nd. Benchmark restated a “buy” rating on shares of Rambus in a research note on Tuesday, July 28th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $165.00 price objective on shares of Rambus in a report on Tuesday, July 28th. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $145.88.
View Our Latest Analysis on Rambus
Rambus Price Performance
The stock has a market capitalization of $10.17 billion, a price-to-earnings ratio of 43.03 and a beta of 1.85. The company has a 50-day simple moving average of $95.04 and a two-hundred day simple moving average of $112.11.
Rambus (NASDAQ:RMBS – Get Free Report) last announced its quarterly earnings results on Monday, July 27th. The semiconductor company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.05. The company had revenue of $207.39 million during the quarter, compared to the consensus estimate of $199.30 million. Rambus had a net margin of 31.69% and a return on equity of 17.89%. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 earnings per share. Research analysts anticipate that Rambus, Inc. will post 2.52 EPS for the current year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the company. Vontobel Holding Ltd. boosted its position in shares of Rambus by 58.7% during the third quarter. Vontobel Holding Ltd. now owns 9,920 shares of the semiconductor company’s stock worth $1,059,000 after buying an additional 3,668 shares during the period. Walser Wealth Management Company A Ltd Liability Co increased its position in Rambus by 11.7% in the 3rd quarter. Walser Wealth Management Company A Ltd Liability Co now owns 2,825 shares of the semiconductor company’s stock valued at $302,000 after acquiring an additional 297 shares during the period. Assenagon Asset Management S.A. raised its stake in Rambus by 304.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 128,997 shares of the semiconductor company’s stock valued at $13,772,000 after acquiring an additional 97,101 shares in the last quarter. Krilogy Financial LLC raised its stake in Rambus by 41.9% during the 3rd quarter. Krilogy Financial LLC now owns 3,108 shares of the semiconductor company’s stock valued at $314,000 after acquiring an additional 918 shares in the last quarter. Finally, Sax Wealth Advisors LLC bought a new stake in Rambus during the 3rd quarter valued at $551,000. Institutional investors own 88.54% of the company’s stock.
About Rambus
Rambus Inc is a semiconductor technology company that develops and licenses intellectual property for memory and data-processing systems. Its technologies are designed to support higher bandwidth, improved performance, reliability and security across data centers, artificial intelligence and high-performance computing platforms, as well as other computing and communications applications.
The company offers memory interface products and intellectual property, including solutions for DDR5 and other advanced memory architectures, high-bandwidth memory, memory modules and associated system components.
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