Cetera Investment Advisers Sells 1,954 Shares of Rambus Inc. (NASDAQ:RMBS)

Cetera Investment Advisers trimmed its stake in shares of Rambus Inc. (NASDAQ:RMBS) by 8.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,768 shares of the semiconductor company’s stock after selling 1,954 shares during the quarter. Cetera Investment Advisers’ holdings in Rambus were worth $1,279,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Quarry LP bought a new position in Rambus during the second quarter worth $38,000. Algert Global LLC boosted its position in Rambus by 163.0% during the second quarter. Algert Global LLC now owns 97,993 shares of the semiconductor company’s stock worth $5,758,000 after purchasing an additional 60,733 shares during the period. AQR Capital Management LLC boosted its position in Rambus by 559.7% during the second quarter. AQR Capital Management LLC now owns 572,930 shares of the semiconductor company’s stock worth $33,133,000 after purchasing an additional 486,078 shares during the period. Apis Capital Advisors LLC boosted its position in Rambus by 106.9% during the second quarter. Apis Capital Advisors LLC now owns 120,000 shares of the semiconductor company’s stock worth $7,051,000 after purchasing an additional 62,000 shares during the period. Finally, Hood River Capital Management LLC lifted its holdings in shares of Rambus by 5.7% during the second quarter. Hood River Capital Management LLC now owns 2,165,548 shares of the semiconductor company’s stock worth $127,248,000 after buying an additional 116,976 shares in the last quarter. 88.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Rambus Stock Performance

RMBS opened at $43.26 on Thursday. The company has a market capitalization of $4.66 billion, a P/E ratio of 13.23 and a beta of 1.19. The stock has a fifty day moving average of $42.20 and a 200-day moving average of $51.92. Rambus Inc. has a fifty-two week low of $37.42 and a fifty-two week high of $76.38.

Rambus (NASDAQ:RMBS) last posted 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). The company had revenue of $132.10 million during the quarter, compared to analyst estimates of $139.00 million. Rambus had a net margin of 48.31% and a return on equity of 16.74%. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period last year, the firm earned $0.36 EPS. On average, equities research analysts predict that Rambus Inc. will post 1.41 earnings per share for the current fiscal 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.