Rambus (NASDAQ:RMBS) Trading Up 6.2% - What's Next?

Rambus Inc. (NASDAQ:RMBS - Get Free Report) shares were up 6.2% during trading on Tuesday . The stock traded as high as $48.02 and last traded at $47.57. Approximately 416,536 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 1,559,636 shares. The stock had previously closed at $44.80.

Analysts Set New Price Targets

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

Rambus Trading Up 13.8 %

The stock has a market cap of $5.49 billion, a price-to-earnings ratio of 22.76 and a beta of 1.19. The firm has a fifty day simple moving average of $41.85 and a 200-day simple moving average of $50.84.

Rambus (NASDAQ:RMBS - Get Free Report) last posted its quarterly earnings results 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). 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%. Rambus's revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.36 EPS. On average, equities analysts predict that Rambus Inc. will post 1.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rambus

Several institutional investors have recently modified their holdings of RMBS. Quarry LP bought a new stake in Rambus in the second quarter valued at about $38,000. Fifth Third Bancorp boosted its stake in Rambus by 68.7% during the 2nd quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company's stock worth $43,000 after acquiring an additional 296 shares during the last quarter. Blue Trust Inc. grew its holdings 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 period. Fidelis Capital Partners LLC bought a new stake in Rambus in the first quarter valued at approximately $90,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Rambus in the second quarter worth $87,000. Institutional investors and hedge funds own 88.54% of the company's stock.

About Rambus

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.