Choreo LLC Purchases New Position in Rambus Inc. (NASDAQ:RMBS)

Choreo LLC purchased a new stake in shares of Rambus Inc. (NASDAQ:RMBS) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 7,671 shares of the semiconductor company’s stock, valued at approximately $445,000.

Several other institutional investors have also recently added to or reduced their stakes in RMBS. Rise Advisors LLC bought 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% in the second quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 296 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Rambus by 240.6% in the second quarter. Blue Trust Inc. now owns 1,141 shares of the semiconductor company’s stock worth $71,000 after acquiring an additional 806 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Rambus in the second quarter worth about $87,000. Finally, Fidelis Capital Partners LLC bought a new position in shares of Rambus in the first quarter worth about $90,000. 88.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RMBS. Rosenblatt Securities reaffirmed a “buy” rating and issued a $85.00 target price on shares of Rambus in a research note on Tuesday, September 10th. Susquehanna lowered their price target on shares of Rambus from $75.00 to $66.00 and set a “positive” rating for the company in a research report on Friday, July 26th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $77.75.

Rambus Price Performance

Shares of NASDAQ:RMBS opened at $40.87 on Monday. Rambus Inc. has a one year low of $37.42 and a one year high of $76.38. The company has a 50 day moving average of $49.39 and a 200-day moving average of $55.30. The stock has a market cap of $4.40 billion, a price-to-earnings ratio of 12.50 and a beta of 1.19.

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