Rambus, Inc. $RMBS Stock: Assenagon Asset Management S.A. Grows Holdings

Key Points

• Assenagon Asset Management increased its Rambus stake by 304.4% in the third quarter, owning 128,997 shares valued at approximately $13.8 million. Institutional investors collectively hold 88.54% of the company’s stock.
• Rambus reported quarterly earnings of $0.77 per share, exceeding estimates by $0.05, while revenue rose 20.4% year over year to $207.39 million.
• Analysts maintain a generally positive outlook, with six Buy and four Hold ratings, producing a consensus “Moderate Buy” rating and an average price target of $145.88.

Assenagon Asset Management S.A. grew its position in shares of Rambus, Inc. (NASDAQ:RMBS - Free Report) by 304.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 128,997 shares of the semiconductor company's stock after purchasing an additional 97,101 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.12% of Rambus worth $13,772,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Danske Bank A S acquired a new stake in shares of Rambus in the 2nd quarter valued at about $27,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Rambus during the second quarter worth approximately $41,000. Western Wealth Management LLC purchased a new stake in Rambus in the first quarter valued at approximately $44,000. PenderFund Capital Management Ltd. acquired a new stake in shares of Rambus in the second quarter valued at approximately $46,000. Finally, Persistent Asset Partners Ltd acquired a new stake in shares of Rambus in the second quarter valued at approximately $49,000. Hedge funds and other institutional investors own 88.54% of the company's stock.

Rambus Trading Up 6.2%

NASDAQ:RMBS opened at $92.66 on Tuesday. The firm has a market cap of $10.05 billion, a P/E ratio of 38.95 and a beta of 1.85. The stock's 50 day simple moving average is $94.98 and its 200-day simple moving average is $112.16. Rambus, Inc. has a 12-month low of $77.89 and a 12-month high of $174.10.

Rambus (NASDAQ:RMBS - Get Free Report) last released its quarterly earnings results on Monday, July 27th. The semiconductor company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.72 by $0.05. Rambus had a return on equity of 17.89% and a net margin of 31.69%. The business had revenue of $207.39 million during the quarter, compared to analysts' expectations of $199.30 million. During the same quarter in the prior year, the business earned $0.53 earnings per share. The company's quarterly revenue was up 20.4% compared to the same quarter last year. Research analysts forecast that Rambus, Inc. will post 2.52 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RMBS. Rosenblatt Securities restated a "buy" rating and set a $165.00 target price on shares of Rambus in a research report on Tuesday, July 28th. Benchmark reiterated a "buy" rating on shares of Rambus in a research report on Tuesday, July 28th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Rambus in a research report on Wednesday, September 2nd. Finally, Glj Research set a $165.00 price target on shares of Rambus in a research note on Tuesday, July 28th. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $145.88.

Rambus Company Profile

Rambus Inc is a semiconductor technology company that develops and licenses intellectual property for memory and data-processing systems. Its technologies are designed to support higher bandwidth, improved performance, reliability and security across data centers, artificial intelligence and high-performance computing platforms, as well as other computing and communications applications.

The company offers memory interface products and intellectual property, including solutions for DDR5 and other advanced memory architectures, high-bandwidth memory, memory modules and associated system components.

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