Federated Hermes Inc. Sells 493 Shares of Rambus Inc. (NASDAQ:RMBS)

Federated Hermes Inc. cut its stake in shares of Rambus Inc. (NASDAQ:RMBS) by 4.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,856 shares of the semiconductor company’s stock after selling 493 shares during the quarter. Federated Hermes Inc.’s holdings in Rambus were worth $697,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RMBS. Janney Montgomery Scott LLC boosted its position in shares of Rambus by 13.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 22,274 shares of the semiconductor company’s stock worth $1,520,000 after purchasing an additional 2,632 shares during the period. Norges Bank bought a new position in Rambus in the 4th quarter worth $84,756,000. Coldstream Capital Management Inc. increased its stake in Rambus by 3.9% in the 4th 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 in the last quarter. Wells Fargo & Company MN raised its holdings in Rambus by 2.4% during the fourth quarter. Wells Fargo & Company MN now owns 131,600 shares of the semiconductor company’s stock valued at $8,982,000 after acquiring an additional 3,054 shares during the period. Finally, Chesapeake Capital Corp IL purchased a new position in shares of Rambus in the fourth quarter valued at about $1,187,000. 88.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Susquehanna cut their target price on Rambus from $75.00 to $66.00 and set a “positive” rating for the company in a research report on Friday, July 26th. Rosenblatt Securities reiterated a “buy” rating and set a $85.00 price objective on shares of Rambus in a research report on Tuesday, September 10th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $77.75.

Rambus Trading Down 1.7 %

NASDAQ:RMBS opened at $38.58 on Monday. The business’s 50-day moving average is $46.77 and its 200 day moving average is $54.47. Rambus Inc. has a 12 month low of $37.42 and a 12 month high of $76.38. The company has a market capitalization of $4.16 billion, a P/E ratio of 11.80 and a beta of 1.19.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings data 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). Rambus had a return on equity of 16.74% and a net margin of 48.31%. The firm had revenue of $132.10 million for the quarter, compared to analysts’ expectations of $139.00 million. During the same period last year, the company earned $0.36 earnings per share. The firm’s revenue was up 10.3% on a year-over-year basis. On average, research analysts forecast that Rambus Inc. will post 1.41 earnings per share for the current 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.