MQS Management LLC Makes New Investment in Rambus Inc. (NASDAQ:RMBS)

MQS Management LLC acquired a new stake in Rambus Inc. (NASDAQ:RMBS) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 3,838 shares of the semiconductor company’s stock, valued at approximately $226,000.

Other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP grew its holdings in 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. Norges Bank acquired a new stake in shares of Rambus in the 4th quarter valued at about $84,756,000. Swedbank AB bought a new stake in Rambus in the 1st quarter valued at about $61,377,000. American Century Companies Inc. boosted its holdings in Rambus by 63.8% in the second quarter. American Century Companies Inc. now owns 1,053,377 shares of the semiconductor company’s stock worth $61,897,000 after acquiring an additional 410,332 shares in the last quarter. Finally, Westfield Capital Management Co. LP bought a new position in Rambus in the first quarter worth approximately $20,277,000. Institutional investors and hedge funds own 88.54% of the company’s stock.

Rambus Stock Down 1.7 %

Shares of Rambus stock opened at $38.58 on Friday. Rambus Inc. has a 52 week low of $37.42 and a 52 week high of $76.38. The business has a 50 day moving average price of $46.77 and a 200-day moving average price of $54.53. The company has a market cap of $4.16 billion, a PE ratio of 11.80 and a beta of 1.19.

Rambus (NASDAQ:RMBS) last released its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.12). Rambus had a net margin of 48.31% and a return on equity of 16.74%. The company had revenue of $132.10 million during the quarter, compared to analysts’ expectations of $139.00 million. During the same period in the previous year, the company posted $0.36 earnings per share. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. As a group, research analysts anticipate that Rambus Inc. will post 1.41 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Rosenblatt Securities restated a “buy” rating and set a $85.00 price objective on shares of Rambus in a report on Tuesday, September 10th. 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 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 currently has a consensus 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.