Sei Investments Co. Acquires 94,462 Shares of Rambus Inc. (NASDAQ:RMBS)

Sei Investments Co. raised its holdings in shares of Rambus Inc. (NASDAQ:RMBS) by 49.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 284,942 shares of the semiconductor company’s stock after purchasing an additional 94,462 shares during the quarter. Sei Investments Co. owned 0.26% of Rambus worth $16,743,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in RMBS. Rise Advisors LLC bought a new position in shares of Rambus in the 1st quarter valued at about $28,000. Fifth Third Bancorp raised its position in Rambus by 68.7% during the second quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 296 shares during the period. Blue Trust Inc. lifted its stake in shares of Rambus by 240.6% in the 2nd quarter. Blue Trust Inc. now owns 1,141 shares of the semiconductor company’s stock valued at $71,000 after purchasing an additional 806 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Rambus in the 2nd quarter worth approximately $87,000. Finally, Fidelis Capital Partners LLC bought a new position in shares of Rambus during the 1st quarter valued at approximately $90,000. 88.54% of the stock is owned by hedge funds and other institutional investors.

Rambus Stock Performance

Shares of RMBS stock opened at $42.47 on Friday. The stock has a 50 day moving average price of $45.29 and a 200 day moving average price of $53.99. Rambus Inc. has a 52-week low of $37.42 and a 52-week high of $76.38. The firm has a market capitalization of $4.58 billion, a P/E ratio of 12.99 and a beta of 1.19.

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

Analyst Ratings Changes

RMBS has been the subject of a number of analyst reports. Susquehanna lowered their price target on Rambus from $75.00 to $66.00 and set a “positive” rating for the company in a research report on Friday, July 26th. Rosenblatt Securities restated a “buy” rating and issued a $85.00 target price on shares of Rambus in a report on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.75.

Rambus 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.