Assenagon Asset Management S.A. Has $53.48 Million Holdings in Rambus Inc. (NASDAQ:RMBS)

Assenagon Asset Management S.A. lifted its holdings in Rambus Inc. (NASDAQ:RMBS - Free Report) by 339.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,266,780 shares of the semiconductor company's stock after purchasing an additional 978,417 shares during the quarter. Assenagon Asset Management S.A. owned 1.18% of Rambus worth $53,483,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of RMBS. Swedbank AB acquired a new stake in shares of Rambus in the first quarter valued at $61,377,000. AQR Capital Management LLC lifted its holdings in shares of Rambus by 559.7% in the second quarter. AQR Capital Management LLC now owns 572,930 shares of the semiconductor company's stock valued at $33,133,000 after buying an additional 486,078 shares during the period. American Century Companies Inc. lifted its holdings in shares of Rambus by 63.8% in the second quarter. American Century Companies Inc. now owns 1,053,377 shares of the semiconductor company's stock valued at $61,897,000 after buying an additional 410,332 shares during the period. Westfield Capital Management Co. LP acquired a new stake in shares of Rambus in the first quarter valued at $20,277,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Rambus by 2.4% in the first quarter. Vanguard Group Inc. now owns 11,651,114 shares of the semiconductor company's stock valued at $720,155,000 after buying an additional 275,160 shares during the period. Institutional investors and hedge funds own 88.54% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Susquehanna cut their price objective on 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 set a $85.00 target price on shares of Rambus in a report on Tuesday, September 10th.

Rambus Stock Up 3.5 %

Shares of NASDAQ RMBS traded up $1.46 during mid-day trading on Friday, hitting $43.50. 1,131,146 shares of the company traded hands, compared to its average volume of 1,562,966. Rambus Inc. has a 1 year low of $37.42 and a 1 year high of $76.38. The stock has a market capitalization of $4.68 billion, a price-to-earnings ratio of 20.11 and a beta of 1.19. The business has a 50 day moving average of $41.95 and a two-hundred day moving average of $51.21.

Rambus (NASDAQ:RMBS - Get Free Report) last announced its quarterly earnings data 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 business 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 firm's revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.36 earnings per share. As a group, research analysts anticipate that Rambus Inc. will post 1.41 EPS for the current year.

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.