Rambus (NASDAQ:RMBS) Stock Price Up 8.6%

Rambus Inc. (NASDAQ:RMBS)’s share price rose 8.6% during mid-day trading on Thursday . The company traded as high as $41.77 and last traded at $41.63. Approximately 324,426 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 1,589,806 shares. The stock had previously closed at $38.34.

Analysts Set New Price Targets

RMBS has been the subject of a number of research reports. Rosenblatt Securities reiterated a “buy” rating and set a $85.00 target price on shares of Rambus in a research report on Tuesday, September 10th. Susquehanna reduced 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. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $77.75.

Rambus Trading Up 7.5 %

The company’s fifty day simple moving average is $45.29 and its 200 day simple moving average is $53.99. The stock has a market capitalization of $4.44 billion, a P/E ratio of 12.73 and a beta of 1.19.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the business posted $0.36 EPS. Equities research analysts predict that Rambus Inc. will post 1.41 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. grew its stake in Rambus by 386.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 288,363 shares of the semiconductor company’s stock worth $16,944,000 after buying an additional 229,066 shares in the last quarter. American International Group Inc. grew its position in Rambus by 231.7% in the fourth quarter. American International Group Inc. now owns 198,577 shares of the semiconductor company’s stock worth $13,553,000 after acquiring an additional 138,714 shares in the last quarter. Magnetar Financial LLC bought a new position in Rambus in the first quarter valued at $1,289,000. Rafferty Asset Management LLC raised its position in Rambus by 13.5% during the fourth quarter. Rafferty Asset Management LLC now owns 677,660 shares of the semiconductor company’s stock valued at $46,250,000 after purchasing an additional 80,670 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in Rambus by 221.3% during the first quarter. SG Americas Securities LLC now owns 13,357 shares of the semiconductor company’s stock worth $826,000 after purchasing an additional 9,200 shares during the last quarter. 88.54% of the stock is currently owned by institutional investors.

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.