First Hawaiian Bank Sells 1,759 Shares of Rambus Inc. (NASDAQ:RMBS)

First Hawaiian Bank lessened its position in Rambus Inc. (NASDAQ:RMBS) by 18.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,993 shares of the semiconductor company’s stock after selling 1,759 shares during the period. First Hawaiian Bank’s holdings in Rambus were worth $470,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of RMBS. Rise Advisors LLC acquired a new stake in Rambus during the 1st quarter worth $28,000. Blue Trust Inc. raised its holdings in shares of Rambus by 100.4% in the fourth quarter. Blue Trust Inc. now owns 447 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 224 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of Rambus by 65.8% in the fourth quarter. Fifth Third Bancorp now owns 504 shares of the semiconductor company’s stock worth $34,000 after purchasing an additional 200 shares in the last quarter. GAMMA Investing LLC bought a new position in Rambus in the fourth quarter valued at $66,000. Finally, Fidelis Capital Partners LLC acquired a new stake in Rambus in the 1st quarter valued at $90,000. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on RMBS. Jefferies Financial Group restated a “buy” rating and issued a $75.00 price objective (up previously from $72.00) on shares of Rambus in a report on Monday, May 13th. Susquehanna decreased their price target on Rambus from $75.00 to $66.00 and set a “positive” rating for the company in a research note on Friday, July 26th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Rambus has an average rating of “Moderate Buy” and an average target price of $77.75.

Rambus Trading Up 1.5 %

Shares of Rambus stock traded up $0.63 during trading on Tuesday, hitting $41.95. 852,511 shares of the stock were exchanged, compared to its average volume of 1,510,793. The company has a fifty day moving average price of $57.53 and a 200-day moving average price of $59.49. The stock has a market capitalization of $4.52 billion, a price-to-earnings ratio of 12.53 and a beta of 1.20. Rambus Inc. has a 1-year low of $38.91 and a 1-year high of $76.38.

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

Rambus Company 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.