Algert Global LLC Acquires 60,733 Shares of Rambus Inc. (NASDAQ:RMBS)

Algert Global LLC lifted its holdings in Rambus Inc. (NASDAQ:RMBS) by 163.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 97,993 shares of the semiconductor company’s stock after acquiring an additional 60,733 shares during the period. Algert Global LLC owned 0.09% of Rambus worth $5,758,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. boosted 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 purchasing an additional 229,066 shares during the period. American International Group Inc. boosted its position in shares of Rambus by 231.7% during 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 during the last quarter. Magnetar Financial LLC purchased a new position in Rambus during the first quarter valued at $1,289,000. Rafferty Asset Management LLC increased its holdings in Rambus by 13.5% in the 4th quarter. Rafferty Asset Management LLC now owns 677,660 shares of the semiconductor company’s stock valued at $46,250,000 after acquiring an additional 80,670 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in Rambus by 221.3% in the 1st 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 in the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Stock Down 0.8 %

Rambus stock opened at $42.12 on Monday. Rambus Inc. has a twelve month low of $37.42 and a twelve month high of $76.38. The company’s 50-day moving average price is $44.62 and its 200-day moving average price is $53.70. The company has a market cap of $4.54 billion, a PE ratio of 12.88 and a beta of 1.19.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings data on Monday, July 29th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.12). The company 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 company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter last year, the company earned $0.36 earnings per share. As a group, sell-side analysts expect that Rambus Inc. will post 1.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on RMBS shares. Susquehanna reduced their target price on Rambus from $75.00 to $66.00 and set a “positive” rating on the stock in a report on Friday, July 26th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Rambus in a research note on Tuesday, September 10th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Rambus presently has a consensus rating of “Moderate Buy” and an average target price of $77.75.

Rambus Profile

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.