Creative Planning Raises Holdings in Rambus Inc. (NASDAQ:RMBS)

Creative Planning raised its position in shares of Rambus Inc. (NASDAQ:RMBS) by 40.7% in the third quarter, Holdings Channel.com reports. The fund owned 37,267 shares of the semiconductor company’s stock after buying an additional 10,772 shares during the quarter. Creative Planning’s holdings in Rambus were worth $1,573,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its holdings in shares of Rambus by 129.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 9,069 shares of the semiconductor company’s stock worth $561,000 after purchasing an additional 5,122 shares during the period. State of Michigan Retirement System grew its stake in Rambus by 2.3% during the first quarter. State of Michigan Retirement System now owns 26,400 shares of the semiconductor company’s stock worth $1,632,000 after buying an additional 600 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Rambus by 39.6% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,019 shares of the semiconductor company’s stock worth $310,000 after acquiring an additional 1,423 shares in the last quarter. Commonwealth Equity Services LLC increased its position in shares of Rambus by 119.0% in the first quarter. Commonwealth Equity Services LLC now owns 14,129 shares of the semiconductor company’s stock worth $873,000 after acquiring an additional 7,676 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of Rambus by 36.5% in the 1st quarter. Van ECK Associates Corp now owns 43,856 shares of the semiconductor company’s stock valued at $2,711,000 after acquiring an additional 11,730 shares during the period. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RMBS has been the subject of several recent research reports. Susquehanna lowered their price target on Rambus from $75.00 to $66.00 and set a “positive” rating for the company in a report on Friday, July 26th. Rosenblatt Securities reiterated a “buy” rating and issued a $85.00 target price on shares of Rambus in a research note on Tuesday.

Rambus Price Performance

Rambus stock opened at $51.00 on Wednesday. Rambus Inc. has a 12-month low of $37.42 and a 12-month high of $76.38. The company has a market capitalization of $5.49 billion, a price-to-earnings ratio of 24.40 and a beta of 1.19. The firm’s fifty day moving average price is $41.85 and its 200 day moving average price is $50.84.

Rambus (NASDAQ:RMBS) last announced its earnings results 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 business had revenue of $132.10 million for the quarter, compared to analysts’ expectations of $139.00 million. Rambus had a return on equity of 16.74% and a net margin of 48.31%. The firm’s revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.36 earnings per share. Analysts forecast that Rambus Inc. will post 1.41 earnings per share for the current fiscal year.

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.