Rambus (NASDAQ:RMBS) Shares Climb 5.4% - Here's What Happened

Key Points

• Rambus shares rose 5.4% to $91.93 in Monday trading, although volume was 91% below the stock’s average session volume.
• Analysts maintain a generally positive outlook, with six Buy ratings and four Holds producing a consensus “Moderate Buy” rating and a $145.88 price target.
• The semiconductor company exceeded quarterly expectations, reporting $0.77 in earnings per share versus $0.72 expected and $207.39 million in revenue, up 20.4% year over year.

Rambus, Inc. (NASDAQ:RMBS - Get Free Report)'s share price was up 5.4% during trading on Monday. The company traded as high as $92.41 and last traded at $91.93. 217,993 shares were traded during trading, a decline of 91% from the average session volume of 2,562,196 shares. The stock had previously closed at $87.25.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Benchmark restated a "buy" rating on shares of Rambus in a research note on Tuesday, July 28th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Rambus in a report on Wednesday, September 2nd. Rosenblatt Securities reissued a "buy" rating and issued a $165.00 price objective on shares of Rambus in a research report on Tuesday, July 28th. Finally, Glj Research set a $165.00 price objective on shares of Rambus in a report 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's stock. Based on data from MarketBeat.com, Rambus currently has a consensus rating of "Moderate Buy" and a consensus price target of $145.88.

Rambus Stock Up 7.5%

The stock has a fifty day moving average of $95.04 and a 200-day moving average of $112.11. The stock has a market capitalization of $10.17 billion, a price-to-earnings ratio of 43.03 and a beta of 1.85.

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

Hedge Funds Weigh In On Rambus

A number of institutional investors have recently modified their holdings of RMBS. Vontobel Holding Ltd. increased its position in shares of Rambus by 58.7% in the 3rd quarter. Vontobel Holding Ltd. now owns 9,920 shares of the semiconductor company's stock worth $1,059,000 after purchasing an additional 3,668 shares during the last quarter. Walser Wealth Management Company A Ltd Liability Co lifted its position in shares of Rambus by 11.7% during the third quarter. Walser Wealth Management Company A Ltd Liability Co now owns 2,825 shares of the semiconductor company's stock worth $302,000 after purchasing an additional 297 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Rambus by 304.4% during the third quarter. Assenagon Asset Management S.A. now owns 128,997 shares of the semiconductor company's stock worth $13,772,000 after purchasing an additional 97,101 shares during the last quarter. Krilogy Financial LLC grew its stake in Rambus by 41.9% in the third quarter. Krilogy Financial LLC now owns 3,108 shares of the semiconductor company's stock worth $314,000 after purchasing an additional 918 shares in the last quarter. Finally, Sax Wealth Advisors LLC acquired a new position in Rambus in the third quarter worth about $551,000. 88.54% of the stock is owned by institutional investors and hedge funds.

About Rambus

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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