Rambus Inc. (NASDAQ:RMBS) Shares Sold by Marshall Wace LLP

Marshall Wace LLP cut its holdings in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) by 72.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,487 shares of the semiconductor company's stock after selling 14,537 shares during the period. Marshall Wace LLP's holdings in Rambus were worth $322,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rise Advisors LLC bought a new position in Rambus during the 1st quarter valued at $28,000. Fifth Third Bancorp lifted its position in shares of Rambus by 68.7% during the second quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company's stock worth $43,000 after purchasing an additional 296 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Rambus by 240.6% during the second quarter. Blue Trust Inc. now owns 1,141 shares of the semiconductor company's stock worth $71,000 after purchasing an additional 806 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Rambus in the second quarter valued at about $87,000. Finally, Fidelis Capital Partners LLC bought a new stake in shares of Rambus in the 1st quarter valued at approximately $90,000. 88.54% of the stock is owned by hedge funds and other institutional investors.

Rambus Price Performance

NASDAQ:RMBS traded up $1.61 during midday 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 firm has a market capitalization of $4.75 billion, a price-to-earnings ratio of 13.47 and a beta of 1.19. The company has a fifty day moving average price of $42.03 and a 200 day moving average price of $52.37. Rambus Inc. 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 analysts' consensus estimates of $0.45 by ($0.12). The firm had revenue of $132.10 million during 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 was up 10.3% on a year-over-year basis. During the same period last year, the business earned $0.36 EPS. On average, equities research analysts forecast that Rambus Inc. will post 1.41 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Rambus 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.