Apis Capital Advisors LLC Has $7.05 Million Position in Rambus Inc. (NASDAQ:RMBS)

Apis Capital Advisors LLC raised its position in Rambus Inc. (NASDAQ:RMBS) by 106.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 120,000 shares of the semiconductor company’s stock after buying an additional 62,000 shares during the quarter. Rambus comprises about 5.2% of Apis Capital Advisors LLC’s portfolio, making the stock its 6th largest position. Apis Capital Advisors LLC owned about 0.11% of Rambus worth $7,051,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Coldstream Capital Management Inc. lifted its position in shares of Rambus by 3.9% during 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 during the last quarter. Bleakley Financial Group LLC lifted its holdings in shares of Rambus by 2.1% in the first quarter. Bleakley Financial Group LLC now owns 10,997 shares of the semiconductor company’s stock worth $680,000 after acquiring an additional 229 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of Rambus by 68.7% in the 2nd quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 296 shares in the last quarter. Retirement Systems of Alabama grew its holdings in shares of Rambus by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 135,005 shares of the semiconductor company’s stock valued at $8,345,000 after purchasing an additional 356 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in Rambus by 0.7% during the 1st quarter. Russell Investments Group Ltd. now owns 61,712 shares of the semiconductor company’s stock worth $3,814,000 after purchasing an additional 423 shares in the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on RMBS shares. Susquehanna cut their target price on shares of Rambus from $75.00 to $66.00 and set a “positive” rating on the stock in a research report on Friday, July 26th. Rosenblatt Securities reissued a “buy” rating and set a $85.00 price objective on shares of Rambus in a report on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $77.75.

Rambus Price Performance

RMBS opened at $38.58 on Monday. Rambus Inc. has a fifty-two week low of $37.42 and a fifty-two week high of $76.38. The company’s 50 day moving average price is $46.77 and its two-hundred day moving average price is $54.47. The firm has a market capitalization of $4.16 billion, a price-to-earnings 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 for the quarter, missing the consensus estimate of $0.45 by ($0.12). The business had revenue of $132.10 million during the quarter, compared to the consensus estimate of $139.00 million. Rambus had a return on equity of 16.74% and a net margin of 48.31%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 EPS. As a group, equities research analysts predict that Rambus Inc. will post 1.41 EPS 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.