Sanctuary Advisors LLC Takes Position in Rambus Inc. (NASDAQ:RMBS)

Sanctuary Advisors LLC acquired a new stake in shares of Rambus Inc. (NASDAQ:RMBS) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 4,060 shares of the semiconductor company’s stock, valued at approximately $240,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bleakley Financial Group LLC grew its holdings in shares of Rambus by 2.1% during the 1st quarter. Bleakley Financial Group LLC now owns 10,997 shares of the semiconductor company’s stock valued at $680,000 after purchasing an additional 229 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of Rambus by 68.7% during the 2nd 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 last quarter. Retirement Systems of Alabama grew its holdings in shares of Rambus by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 135,005 shares of the semiconductor company’s stock valued at $8,345,000 after purchasing an additional 356 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Rambus by 0.7% during the 1st quarter. Russell Investments Group Ltd. now owns 61,712 shares of the semiconductor company’s stock valued at $3,814,000 after purchasing an additional 423 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Rambus by 11.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,996 shares of the semiconductor company’s stock valued at $294,000 after purchasing an additional 496 shares during the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Stock Down 3.6 %

Shares of Rambus stock opened at $41.18 on Friday. The firm has a market cap of $4.44 billion, a PE ratio of 12.59 and a beta of 1.19. Rambus Inc. has a 12-month low of $37.42 and a 12-month high of $76.38. The company’s fifty day simple moving average is $42.16 and its two-hundred day simple moving average is $51.66.

Rambus (NASDAQ:RMBS) last posted its 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 during the quarter, compared to analysts’ expectations of $139.00 million. During the same period in the prior year, the business posted $0.36 earnings per share. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, sell-side analysts expect that Rambus Inc. will post 1.41 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Susquehanna cut their price target on shares of Rambus from $75.00 to $66.00 and set a “positive” rating on the stock in a report on Friday, July 26th. Rosenblatt Securities reissued a “buy” rating and issued a $85.00 price target on shares of Rambus in a report on Tuesday, September 10th.

About Rambus

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.