Rice Hall James & Associates LLC Lowers Holdings in Rambus Inc. (NASDAQ:RMBS)

Rice Hall James & Associates LLC cut its position in Rambus Inc. (NASDAQ:RMBS) by 1.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,095 shares of the semiconductor company’s stock after selling 560 shares during the quarter. Rice Hall James & Associates LLC’s holdings in Rambus were worth $3,120,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of RMBS. Private Advisor Group LLC purchased a new stake in Rambus in the 4th quarter worth approximately $489,000. Vanguard Personalized Indexing Management LLC lifted its stake in Rambus by 15.5% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 13,459 shares of the semiconductor company’s stock worth $919,000 after purchasing an additional 1,807 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in Rambus by 13.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 22,274 shares of the semiconductor company’s stock worth $1,520,000 after purchasing an additional 2,632 shares in the last quarter. Navellier & Associates Inc. lifted its stake in Rambus by 24.5% in the 4th quarter. Navellier & Associates Inc. now owns 19,961 shares of the semiconductor company’s stock worth $1,362,000 after purchasing an additional 3,931 shares in the last quarter. Finally, Level Four Advisory Services LLC purchased a new stake in Rambus in the 4th quarter worth approximately $527,000. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Rambus Stock Performance

Rambus stock opened at $41.27 on Thursday. The firm’s fifty day moving average price is $50.23 and its 200-day moving average price is $55.56. The stock has a market cap of $4.44 billion, a P/E ratio of 12.62 and a beta of 1.19. Rambus Inc. has a fifty-two week low of $37.42 and a fifty-two week high of $76.38.

Rambus (NASDAQ:RMBS) last released its earnings results on Monday, July 29th. The semiconductor company reported $0.33 EPS 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 the consensus estimate of $139.00 million. During the same period in the prior year, the business posted $0.36 EPS. Rambus’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, analysts predict that Rambus Inc. will post 1.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Rosenblatt Securities restated a “buy” rating and set a $85.00 price objective on shares of Rambus in a research report on Tuesday. Susquehanna lowered 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 analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $77.75.

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.