Rambus Inc. (NASDAQ:RMBS) Shares Bought by Hood River Capital Management LLC

Hood River Capital Management LLC increased its stake in Rambus Inc. (NASDAQ:RMBS) by 5.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,165,548 shares of the semiconductor company’s stock after acquiring an additional 116,976 shares during the quarter. Rambus makes up 2.6% of Hood River Capital Management LLC’s holdings, making the stock its 3rd largest holding. Hood River Capital Management LLC’s holdings in Rambus were worth $127,248,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wellington Management Group LLP boosted its stake in Rambus by 120.4% in the 4th quarter. Wellington Management Group LLP now owns 3,933,923 shares of the semiconductor company’s stock worth $268,490,000 after purchasing an additional 2,149,396 shares during the period. Norges Bank acquired a new stake in shares of Rambus in the fourth quarter worth $84,756,000. Swedbank AB acquired a new position in Rambus during the first quarter valued at $61,377,000. American Century Companies Inc. lifted its stake in Rambus by 63.8% in the 2nd quarter. American Century Companies Inc. now owns 1,053,377 shares of the semiconductor company’s stock worth $61,897,000 after acquiring an additional 410,332 shares in the last quarter. Finally, Westfield Capital Management Co. LP acquired a new stake in Rambus during the 1st quarter worth about $20,277,000. 88.54% of the stock is owned by institutional investors and hedge funds.

Rambus Stock Performance

Shares of NASDAQ RMBS opened at $38.58 on Monday. The stock has a market cap of $4.16 billion, a price-to-earnings ratio of 11.80 and a beta of 1.19. The business has a 50 day simple moving average of $46.77 and a 200 day simple moving average of $54.47. Rambus Inc. has a 52 week low of $37.42 and a 52 week high of $76.38.

Rambus (NASDAQ:RMBS) last announced 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 business had revenue of $132.10 million for the quarter, compared to analyst estimates of $139.00 million. During the same quarter last year, the company earned $0.36 EPS. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, analysts predict that Rambus Inc. will post 1.41 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on RMBS shares. Susquehanna dropped 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. Rosenblatt Securities reiterated a “buy” rating and issued a $85.00 price objective on shares of Rambus in a research note on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $77.75.

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.