Xponance Inc. Sells 855 Shares of Rambus Inc. (NASDAQ:RMBS)

Xponance Inc. lowered its stake in Rambus Inc. (NASDAQ:RMBS) by 5.5% in the 2nd quarter, Holdings Channel reports. The firm owned 14,595 shares of the semiconductor company’s stock after selling 855 shares during the quarter. Xponance Inc.’s holdings in Rambus were worth $858,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Rise Advisors LLC bought a new position in shares of Rambus in the first quarter valued at approximately $28,000. Fifth Third Bancorp lifted its stake in Rambus by 68.7% in the 2nd quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 296 shares in the last quarter. Blue Trust Inc. boosted its holdings in 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 period. Migdal Insurance & Financial Holdings Ltd. bought a new position in Rambus in the 2nd quarter valued at $87,000. Finally, Fidelis Capital Partners LLC purchased a new position in shares of Rambus during the 1st quarter valued at $90,000. 88.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on RMBS. Rosenblatt Securities restated a “buy” rating and set a $85.00 target price on shares of Rambus in a research report on Tuesday, September 10th. Susquehanna decreased their price objective on shares of Rambus from $75.00 to $66.00 and set a “positive” rating on the stock in a research report on Friday, July 26th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.75.

Rambus Stock Down 0.8 %

NASDAQ RMBS opened at $42.12 on Friday. The stock’s 50-day simple moving average is $44.62 and its two-hundred day simple moving average is $53.77. Rambus Inc. has a twelve month low of $37.42 and a twelve month high of $76.38. The company has a market capitalization of $4.54 billion, a price-to-earnings ratio of 12.88 and a beta of 1.19.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings data 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). The firm had revenue of $132.10 million for the quarter, compared to analysts’ expectations of $139.00 million. Rambus had a net margin of 48.31% and a return on equity of 16.74%. The business’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 earnings per share. On average, equities analysts expect that Rambus Inc. will post 1.41 earnings per share for the current fiscal year.

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.