Victory Capital Management Inc. Has $13.17 Million Stock Holdings in Rambus Inc. (NASDAQ:RMBS)

Victory Capital Management Inc. lowered its position in Rambus Inc. (NASDAQ:RMBS) by 1.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 224,104 shares of the semiconductor company’s stock after selling 2,489 shares during the quarter. Victory Capital Management Inc.’s holdings in Rambus were worth $13,168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. Mesirow Institutional Investment Management Inc. increased its position in Rambus by 0.9% in the 2nd quarter. Mesirow Institutional Investment Management Inc. now owns 285,260 shares of the semiconductor company’s stock valued at $16,762,000 after acquiring an additional 2,457 shares during the period. Rhumbline Advisers increased its holdings in Rambus by 1.6% in the second quarter. Rhumbline Advisers now owns 340,637 shares of the semiconductor company’s stock valued at $20,016,000 after purchasing an additional 5,360 shares during the period. Natixis Advisors LLC raised its position in Rambus by 6.7% during the 2nd quarter. Natixis Advisors LLC now owns 223,027 shares of the semiconductor company’s stock worth $13,105,000 after purchasing an additional 14,093 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Rambus by 22.2% during the 2nd quarter. Van ECK Associates Corp now owns 53,581 shares of the semiconductor company’s stock worth $3,148,000 after buying an additional 9,725 shares during the period. Finally, Forum Financial Management LP grew its position in shares of Rambus by 81.5% in the 2nd quarter. Forum Financial Management LP now owns 8,017 shares of the semiconductor company’s stock valued at $471,000 after buying an additional 3,601 shares during the last quarter. Institutional investors own 88.54% of the company’s stock.

Rambus Trading Up 3.2 %

RMBS stock opened at $40.87 on Friday. Rambus Inc. has a 1-year low of $37.42 and a 1-year high of $76.38. The stock has a 50-day moving average price of $49.39 and a 200-day moving average price of $55.32. The firm has a market cap of $4.40 billion, a PE ratio of 12.50 and a beta of 1.19.

Rambus (NASDAQ:RMBS) last issued 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 business had revenue of $132.10 million during the quarter, compared to analyst estimates of $139.00 million. Rambus had a net margin of 48.31% and a return on equity of 16.74%. Rambus’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period last year, the firm posted $0.36 earnings per share. On average, analysts forecast that Rambus Inc. will post 1.41 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RMBS. Rosenblatt Securities restated a “buy” rating and set a $85.00 price objective on shares of Rambus in a research report on Tuesday. Susquehanna lowered their price target on shares of Rambus from $75.00 to $66.00 and set a “positive” rating for the company in a report on Friday, July 26th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Rambus currently has an average rating of “Moderate Buy” and an average price target of $77.75.

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.