First Citizens Bank & Trust Co. reduced its position in shares of Rambus, Inc. (NASDAQ:RMBS – Free Report) by 53.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,761 shares of the semiconductor company’s stock after selling 7,748 shares during the period. First Citizens Bank & Trust Co.’s holdings in Rambus were worth $722,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of RMBS. Danske Bank A S acquired a new stake in Rambus in the 2nd quarter valued at approximately $27,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Rambus during the 2nd quarter worth approximately $41,000. Western Wealth Management LLC acquired a new position in Rambus during the 1st quarter worth approximately $44,000. PenderFund Capital Management Ltd. bought a new position in shares of Rambus during the 2nd quarter worth approximately $46,000. Finally, Persistent Asset Partners Ltd bought a new position in shares of Rambus during the 2nd quarter worth approximately $49,000. 88.54% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of analysts have recently commented on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Rambus in a research report on Wednesday, September 2nd. Glj Research set a $165.00 target price on shares of Rambus in a research report on Tuesday, July 28th. Rosenblatt Securities reiterated a “buy” rating and issued a $165.00 price target on shares of Rambus in a research note on Tuesday, July 28th. Finally, Benchmark reissued a “buy” rating on shares of Rambus in a research report on Tuesday, July 28th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Rambus presently has an average rating of “Moderate Buy” and an average price target of $145.88.
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Rambus Price Performance
Rambus stock opened at $87.25 on Friday. Rambus, Inc. has a fifty-two week low of $77.89 and a fifty-two week high of $174.10. The company’s 50-day moving average is $95.04 and its 200-day moving average is $111.89. The firm has a market capitalization of $9.46 billion, a PE ratio of 41.46 and a beta of 1.85.
Rambus (NASDAQ:RMBS – Get Free Report) last issued its quarterly earnings data on Monday, July 27th. The semiconductor company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.05. Rambus had a net margin of 31.69% and a return on equity of 17.89%. The firm had revenue of $207.39 million during the quarter, compared to the consensus estimate of $199.30 million. During the same period last year, the business posted $0.53 earnings per share. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, analysts expect that Rambus, Inc. will post 2.52 EPS for the current year.
Rambus Profile
Rambus Inc is a semiconductor technology company that develops and licenses high-performance chip interfaces and related intellectual property. Its technologies are designed to improve the speed, capacity, reliability and security of data transfer in memory systems and other electronic devices.
The company offers memory interface products for applications such as data centers, servers and advanced computing systems. Its portfolio includes solutions for DDR memory, high-bandwidth memory and other emerging memory architectures, as well as interface and connectivity technologies intended to support increasingly data-intensive workloads.
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