Rambus Inc. (NASDAQ:RMBS) Short Interest Down 25.7% in September

Rambus Inc. (NASDAQ:RMBS - Get Free Report) saw a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 2,920,000 shares, a decline of 25.7% from the September 15th total of 3,930,000 shares. Approximately 2.7% of the shares of the company are sold short. Based on an average trading volume of 1,900,000 shares, the days-to-cover ratio is presently 1.5 days.

Hedge Funds Weigh In On Rambus

Large investors have recently made changes to their positions in the business. Creative Planning raised its position in shares of Rambus by 40.7% during the 3rd quarter. Creative Planning now owns 37,267 shares of the semiconductor company's stock valued at $1,573,000 after buying an additional 10,772 shares in the last quarter. Wesbanco Bank Inc. purchased a new position in shares of Rambus in the 3rd quarter worth approximately $464,000. CWM LLC increased its stake in Rambus by 31.9% during the 3rd quarter. CWM LLC now owns 7,487 shares of the semiconductor company's stock valued at $316,000 after purchasing an additional 1,811 shares in the last quarter. Diversified Trust Co raised its stake in Rambus by 4.3% in the 3rd quarter. Diversified Trust Co now owns 27,049 shares of the semiconductor company's stock worth $1,142,000 after acquiring an additional 1,106 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Rambus by 207.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,623 shares of the semiconductor company's stock worth $111,000 after buying an additional 1,769 shares during the last quarter. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Rambus Trading Up 3.8 %

Shares of NASDAQ:RMBS traded up $1.61 during trading on Friday, reaching $44.05. 1,562,227 shares of the company traded hands, compared to its average volume of 1,590,012. The business's fifty day moving average is $42.03 and its 200-day moving average is $52.31. Rambus has a 52-week low of $37.42 and a 52-week high of $76.38. The firm has a market capitalization of $4.75 billion, a price-to-earnings ratio of 13.47 and a beta of 1.19.

Rambus (NASDAQ:RMBS - Get Free Report) last posted its earnings results on Monday, July 29th. The semiconductor company reported $0.33 earnings per share 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 the consensus estimate of $139.00 million. Rambus had a net margin of 48.31% and a return on equity of 16.74%. The firm's revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.36 EPS. On average, sell-side analysts predict that Rambus 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.