Rambus (NASDAQ:RMBS) Receives Buy Rating from Rosenblatt Securities

Rambus (NASDAQ:RMBS - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at Rosenblatt Securities in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $85.00 price objective on the semiconductor company's stock. Rosenblatt Securities' target price points to a potential upside of 66.67% from the company's previous close.

Separately, Susquehanna lowered their price objective on shares of Rambus from $75.00 to $66.00 and set a "positive" rating on the stock in a research note on Friday, July 26th.

Rambus Price Performance

RMBS stock traded up $6.20 during midday trading on Tuesday, hitting $51.00. The company's stock had a trading volume of 3,512,188 shares, compared to its average volume of 1,574,446. The stock has a market capitalization of $5.49 billion, a P/E ratio of 22.76 and a beta of 1.19. The company's fifty day moving average price is $41.85 and its 200 day moving average price is $50.84. Rambus has a twelve month low of $37.42 and a twelve month high of $76.38.

Rambus (NASDAQ:RMBS - Get Free Report) last released 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 firm had revenue of $132.10 million for the quarter, compared to analyst estimates of $139.00 million. Rambus had a return on equity of 16.74% and a net margin of 48.31%. The firm's revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.36 earnings per share. Equities analysts expect that Rambus will post 1.41 EPS for the current fiscal year.

Institutional Trading of Rambus

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Emerald Advisers LLC boosted its holdings in shares of Rambus by 42.1% during the 3rd quarter. Emerald Advisers LLC now owns 561,414 shares of the semiconductor company's stock worth $23,703,000 after buying an additional 166,453 shares during the period. Van ECK Associates Corp boosted its holdings in Rambus by 52.0% in the 3rd quarter. Van ECK Associates Corp now owns 81,441 shares of the semiconductor company's stock valued at $3,372,000 after purchasing an additional 27,860 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in Rambus by 230.8% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 62,645 shares of the semiconductor company's stock valued at $2,645,000 after purchasing an additional 43,706 shares during the period. Emerald Mutual Fund Advisers Trust boosted its holdings in Rambus by 37.6% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 421,917 shares of the semiconductor company's stock valued at $17,813,000 after purchasing an additional 115,222 shares during the period. Finally, Rice Hall James & Associates LLC boosted its holdings in Rambus by 28.5% in the 3rd quarter. Rice Hall James & Associates LLC now owns 68,243 shares of the semiconductor company's stock valued at $2,881,000 after purchasing an additional 15,148 shares during the period. 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.