Rambus Inc. (NASDAQ:RMBS) Shares Sold by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. lowered its position in shares of Rambus Inc. (NASDAQ:RMBS) by 11.7% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 9,801 shares of the semiconductor company’s stock after selling 1,301 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Rambus were worth $576,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Rise Advisors LLC purchased a new position in shares of Rambus in the first quarter worth about $28,000. Fifth Third Bancorp raised its stake in shares of Rambus by 68.7% during the 2nd quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 296 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Rambus by 240.6% in the 2nd quarter. Blue Trust Inc. now owns 1,141 shares of the semiconductor company’s stock valued at $71,000 after buying an additional 806 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Rambus in the second quarter worth about $87,000. Finally, Fidelis Capital Partners LLC purchased a new stake in shares of Rambus in the first quarter worth about $90,000. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on RMBS shares. Rosenblatt Securities reissued a “buy” rating and issued a $85.00 price target on shares of Rambus in a report on Tuesday, September 10th. Susquehanna decreased their target price on shares of Rambus from $75.00 to $66.00 and set a “positive” rating for the company in a research note on Friday, July 26th.

Rambus Stock Performance

Shares of RMBS stock opened at $41.05 on Tuesday. Rambus Inc. has a 12-month low of $37.42 and a 12-month high of $76.38. The business’s 50 day moving average is $42.37 and its two-hundred day moving average is $52.80. The company has a market capitalization of $4.42 billion, a P/E ratio of 12.55 and a beta of 1.19.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings data 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 company had revenue of $132.10 million for the quarter, compared to analyst estimates of $139.00 million. During the same quarter in the prior year, the company posted $0.36 earnings per share. The business’s revenue was up 10.3% on a year-over-year basis. On average, research analysts predict 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.