Rambus (NASDAQ:RMBS) Shares Gap Up - Time to Buy?

Rambus Inc. (NASDAQ:RMBS - Get Free Report) shares gapped up prior to trading on Thursday . The stock had previously closed at $43.26, but opened at $44.76. Rambus shares last traded at $44.14, with a volume of 61,772 shares trading hands.

Analyst Ratings Changes

A number of research analysts have recently commented on RMBS shares. Rosenblatt Securities reaffirmed a "buy" rating and set a $85.00 price target on shares of Rambus in a research report on Tuesday, September 10th. Susquehanna cut their target price 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.

Rambus Stock Performance

The business has a 50 day moving average of $42.20 and a 200-day moving average of $51.92. The company has a market capitalization of $4.60 billion, a P/E ratio of 13.23 and a beta of 1.19.

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

Institutional Investors Weigh In On Rambus

A number of institutional investors and hedge funds have recently made changes to their positions in RMBS. Rise Advisors LLC bought a new position in Rambus in the 1st quarter worth about $28,000. Quarry LP purchased a new stake in Rambus in the second quarter valued at approximately $38,000. Fifth Third Bancorp raised its stake in Rambus by 68.7% in the second 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. Blue Trust Inc. lifted its position in Rambus by 240.6% during the second quarter. Blue Trust Inc. now owns 1,141 shares of the semiconductor company's stock valued at $71,000 after purchasing an additional 806 shares during the last quarter. Finally, Fidelis Capital Partners LLC purchased a new position in Rambus in the 1st quarter worth approximately $90,000. Hedge funds and other institutional investors own 88.54% of the company's stock.

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.