Rambus’ (RMBS) Buy Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Rambus (NASDAQ:RMBSFree Report) in a report issued on Tuesday, Benzinga reports. They currently have a $85.00 target price on the semiconductor company’s stock.

Several other equities research analysts also recently issued reports on the company. Jefferies Financial Group restated a buy rating and set a $75.00 price objective (up from $72.00) on shares of Rambus in a report on Monday, May 13th. Susquehanna dropped their price objective on Rambus from $75.00 to $66.00 and set a positive rating on the stock in a report on Friday, July 26th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $77.75.

View Our Latest Stock Report on RMBS

Rambus Stock Performance

Rambus stock opened at $40.87 on Tuesday. The stock’s 50 day moving average price is $49.39 and its 200 day moving average price is $55.32. The firm has a market capitalization of $4.40 billion, a PE ratio of 12.50 and a beta of 1.19. Rambus has a one year low of $37.42 and a one year high of $76.38.

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

Institutional Investors Weigh In On Rambus

A number of institutional investors have recently made changes to their positions in RMBS. Wellington Management Group LLP increased its holdings in shares of Rambus by 120.4% in the 4th quarter. Wellington Management Group LLP now owns 3,933,923 shares of the semiconductor company’s stock valued at $268,490,000 after acquiring an additional 2,149,396 shares during the last quarter. Norges Bank bought a new stake in shares of Rambus in the 4th quarter valued at approximately $84,756,000. Swedbank AB bought a new stake in shares of Rambus in the 1st quarter valued at approximately $61,377,000. AQR Capital Management LLC increased its holdings in shares of Rambus by 559.7% in the 2nd quarter. AQR Capital Management LLC now owns 572,930 shares of the semiconductor company’s stock valued at $33,133,000 after acquiring an additional 486,078 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Rambus by 63.8% in the 2nd quarter. American Century Companies Inc. now owns 1,053,377 shares of the semiconductor company’s stock valued at $61,897,000 after acquiring an additional 410,332 shares during the last quarter. 88.54% of the stock is currently owned by institutional investors.

About Rambus

(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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