Rambus Inc. (NASDAQ:RMBS) Position Lifted by Hood River Capital Management LLC

Hood River Capital Management LLC grew its holdings in Rambus Inc. (NASDAQ:RMBS) by 5.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,165,548 shares of the semiconductor company’s stock after acquiring an additional 116,976 shares during the period. Rambus comprises approximately 2.6% of Hood River Capital Management LLC’s holdings, making the stock its 3rd biggest holding. Hood River Capital Management LLC owned about 2.01% of Rambus worth $127,248,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in RMBS. Coldstream Capital Management Inc. increased its stake in shares of Rambus by 3.9% in the fourth quarter. Coldstream Capital Management Inc. now owns 4,632 shares of the semiconductor company’s stock worth $316,000 after buying an additional 173 shares during the last quarter. Bleakley Financial Group LLC raised its stake 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 valued at $680,000 after purchasing an additional 229 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Rambus by 68.7% during the second quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 296 shares during the last quarter. Retirement Systems of Alabama lifted its position in shares of 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 purchasing an additional 356 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in Rambus by 0.7% in the first quarter. Russell Investments Group Ltd. now owns 61,712 shares of the semiconductor company’s stock worth $3,814,000 after purchasing an additional 423 shares in the last quarter. Institutional investors and hedge funds own 88.54% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on RMBS. 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 restated a “buy” rating and set 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 given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $77.75.

Rambus Stock Down 1.7 %

RMBS stock opened at $38.58 on Monday. The stock has a market cap of $4.16 billion, a PE ratio of 11.80 and a beta of 1.19. The firm’s 50-day simple moving average is $46.77 and its 200 day simple moving average is $54.47. Rambus Inc. has a fifty-two week low of $37.42 and a fifty-two week high of $76.38.

Rambus (NASDAQ:RMBS) last announced its quarterly 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). The firm had revenue of $132.10 million during the quarter, compared to analyst estimates of $139.00 million. Rambus had a net margin of 48.31% and a return on equity of 16.74%. Rambus’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 EPS. Equities 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.