Rosenblatt Securities Reiterates “Buy” Rating for Rambus (NASDAQ:RMBS)

Rambus (NASDAQ:RMBS)‘s stock had its “buy” rating reiterated by Rosenblatt Securities in a report released on Tuesday, Benzinga reports. They currently have a $85.00 price objective on the semiconductor company’s stock. Rosenblatt Securities’ price objective would suggest a potential upside of 105.96% from the company’s current price.

Several other equities research analysts have also commented on the company. Jefferies Financial Group reissued a “buy” rating and set a $75.00 price target (up previously from $72.00) on shares of Rambus in a research note on Monday, May 13th. Susquehanna lowered their target price on Rambus from $75.00 to $66.00 and set a “positive” rating on the stock in a report on Friday, July 26th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Rambus currently has an average rating of “Moderate Buy” and a consensus price target of $77.75.

Rambus Price Performance

Shares of Rambus stock opened at $41.27 on Tuesday. Rambus has a 12 month low of $37.42 and a 12 month high of $76.38. The stock has a market capitalization of $4.45 billion, a price-to-earnings ratio of 12.62 and a beta of 1.19. The firm’s fifty day simple moving average is $50.23 and its 200-day simple moving average is $55.56.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Sanctuary Advisors LLC acquired a new stake in shares of Rambus during the 2nd quarter worth $240,000. Quarry LP bought a new position in Rambus during the 2nd quarter worth approximately $38,000. Algert Global LLC increased its stake in Rambus by 163.0% during the second quarter. Algert Global LLC now owns 97,993 shares of the semiconductor company’s stock valued at $5,758,000 after purchasing an additional 60,733 shares during the last quarter. AQR Capital Management LLC boosted its stake in Rambus by 559.7% in the second 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 period. Finally, Apis Capital Advisors LLC raised its position in shares of Rambus by 106.9% during the 2nd quarter. Apis Capital Advisors LLC now owns 120,000 shares of the semiconductor company’s stock worth $7,051,000 after purchasing an additional 62,000 shares during the period. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Rambus Company Profile

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.