Mackenzie Financial Corp Has $414,000 Stake in Rambus Inc. (NASDAQ:RMBS)

Mackenzie Financial Corp lessened its holdings in shares of Rambus Inc. (NASDAQ:RMBS) by 7.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,049 shares of the semiconductor company’s stock after selling 580 shares during the period. Mackenzie Financial Corp’s holdings in Rambus were worth $414,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Assenagon Asset Management S.A. boosted its stake in shares of Rambus by 386.3% in the second quarter. Assenagon Asset Management S.A. now owns 288,363 shares of the semiconductor company’s stock valued at $16,944,000 after buying an additional 229,066 shares during the period. Magnetar Financial LLC bought a new stake in shares of Rambus during the 1st quarter valued at $1,289,000. SG Americas Securities LLC lifted its position in shares of Rambus by 221.3% during the 1st quarter. SG Americas Securities LLC now owns 13,357 shares of the semiconductor company’s stock valued at $826,000 after acquiring an additional 9,200 shares during the period. Park West Asset Management LLC bought a new position in shares of Rambus in the fourth quarter worth $14,332,000. Finally, Wellington Management Group LLP increased its position in shares of Rambus by 120.4% in the fourth quarter. Wellington Management Group LLP now owns 3,933,923 shares of the semiconductor company’s stock worth $268,490,000 after purchasing an additional 2,149,396 shares during the period. Institutional investors and hedge funds own 88.54% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on RMBS. Susquehanna decreased 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 reiterated a “buy” rating and set a $85.00 price target on shares of Rambus in a research report on Tuesday, September 10th.

Rambus Stock Up 2.1 %

NASDAQ:RMBS opened at $41.05 on Friday. Rambus Inc. has a twelve month low of $37.42 and a twelve month high of $76.38. The stock’s 50-day simple moving average is $42.67 and its 200 day simple moving average is $53.02. The firm has a market capitalization of $4.42 billion, a PE ratio of 12.55 and a beta of 1.19.

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