Rosenblatt Securities Reaffirms Buy Rating for Rambus (NASDAQ:RMBS)

Rambus (NASDAQ:RMBS)‘s stock had its “buy” rating reissued by analysts at Rosenblatt Securities in a report issued on Tuesday, Benzinga reports. They currently have a $85.00 price target on the semiconductor company’s stock. Rosenblatt Securities’ price objective indicates a potential upside of 70.37% from the stock’s previous close.

Separately, Susquehanna cut their price objective on shares of Rambus from $75.00 to $66.00 and set a “positive” rating for the company in a research note on Friday, July 26th.

Rambus Stock Down 2.2 %

RMBS opened at $49.89 on Tuesday. The business’s fifty day simple moving average is $41.99 and its 200 day simple moving average is $50.76. Rambus has a 52 week low of $37.42 and a 52 week high of $76.38. The stock has a market cap of $5.37 billion, a PE ratio of 23.87 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 analysts’ consensus estimates of $0.45 by ($0.12). Rambus had a return on equity of 16.74% and a net margin of 48.31%. The firm had revenue of $132.10 million during the quarter, compared to the consensus estimate of $139.00 million. During the same quarter in the previous year, the firm earned $0.36 EPS. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. As a group, equities analysts anticipate that Rambus will post 1.41 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP purchased a new stake in Rambus during the 2nd quarter valued at $38,000. Fifth Third Bancorp grew its stake in shares of Rambus by 68.7% in the second quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 296 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Rambus by 240.6% in the second quarter. Blue Trust Inc. now owns 1,141 shares of the semiconductor company’s stock worth $71,000 after purchasing an additional 806 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Rambus during the 2nd quarter valued at about $87,000. Finally, Fidelis Capital Partners LLC bought a new position in Rambus during the 1st quarter valued at approximately $90,000. Institutional investors own 88.54% of the company’s stock.

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.