Wesbanco Bank Inc. Invests $464,000 in Rambus Inc. (NASDAQ:RMBS)

Wesbanco Bank Inc. bought a new stake in Rambus Inc. (NASDAQ:RMBS) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 10,984 shares of the semiconductor company’s stock, valued at approximately $464,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of RMBS. Bleakley Financial Group LLC raised its holdings in shares of Rambus by 2.1% in the 1st quarter. Bleakley Financial Group LLC now owns 10,997 shares of the semiconductor company’s stock worth $680,000 after purchasing an additional 229 shares during the period. Fifth Third Bancorp raised its holdings in Rambus by 68.7% in the second quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 296 shares during the period. Retirement Systems of Alabama grew its stake in Rambus by 0.3% during the first quarter. Retirement Systems of Alabama now owns 135,005 shares of the semiconductor company’s stock worth $8,345,000 after buying an additional 356 shares during the period. Russell Investments Group Ltd. grew its stake in Rambus by 0.7% during the first quarter. Russell Investments Group Ltd. now owns 61,712 shares of the semiconductor company’s stock worth $3,814,000 after buying an additional 423 shares during the period. Finally, Rise Advisors LLC acquired a new stake in shares of Rambus in the first quarter worth $28,000. Institutional investors and hedge funds own 88.54% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RMBS. Susquehanna reduced their target price on shares of 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 target price on shares of Rambus in a research report on Tuesday, September 10th.

Rambus Trading Down 0.0 %

RMBS opened at $43.26 on Thursday. Rambus Inc. has a twelve month low of $37.42 and a twelve month high of $76.38. The firm has a market cap of $4.66 billion, a price-to-earnings ratio of 13.23 and a beta of 1.19. The company has a fifty day simple moving average of $42.20 and a 200 day simple moving average of $51.92.

Rambus (NASDAQ:RMBS) last announced its earnings results on Monday, July 29th. The semiconductor company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.12). Rambus had a net margin of 48.31% and a return on equity of 16.74%. The business had revenue of $132.10 million for the quarter, compared to analyst estimates of $139.00 million. During the same quarter in the prior year, the business earned $0.36 earnings per share. The firm’s revenue was up 10.3% on a year-over-year basis. On average, analysts forecast 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.