Rambus Inc. (NASDAQ:RMBS) Short Interest Down 21.8% in July

Rambus Inc. (NASDAQ:RMBS) saw a significant decline in short interest in July. As of July 31st, there was short interest totalling 2,790,000 shares, a decline of 21.8% from the July 15th total of 3,570,000 shares. Based on an average daily volume of 1,460,000 shares, the short-interest ratio is presently 1.9 days. Currently, 2.6% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RMBS. Rise Advisors LLC bought a new position in Rambus during the 1st quarter valued at about $28,000. Quarry LP bought a new stake in shares of Rambus in the 2nd quarter valued at about $38,000. Fifth Third Bancorp boosted its stake in shares of Rambus by 68.7% during the second quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 296 shares in the last quarter. GAMMA Investing LLC purchased a new stake in Rambus during the fourth quarter worth $66,000. Finally, Blue Trust Inc. increased its holdings in shares of Rambus by 240.6% in the 2nd quarter. Blue Trust Inc. now owns 1,141 shares of the semiconductor company’s stock valued at $71,000 after acquiring an additional 806 shares during the period. Institutional investors own 88.54% of the company’s stock.

Rambus Stock Down 0.7 %

RMBS stock traded down $0.35 during mid-day trading on Friday, hitting $46.32. The company had a trading volume of 1,138,865 shares, compared to its average volume of 1,528,990. The company has a 50-day moving average price of $55.24 and a 200 day moving average price of $57.82. Rambus has a 12-month low of $38.91 and a 12-month high of $76.38. The company has a market capitalization of $4.99 billion, a price-to-earnings ratio of 14.27 and a beta of 1.20.

Rambus (NASDAQ:RMBS) last released its quarterly earnings results 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). Rambus had a net margin of 48.31% and a return on equity of 16.74%. The firm had revenue of $132.10 million for the quarter, compared to analysts’ expectations of $139.00 million. During the same quarter in the prior year, the business earned $0.36 EPS. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. As a group, analysts expect that Rambus will post 1.41 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on RMBS shares. Jefferies Financial Group restated a “buy” rating and issued a $75.00 price target (up previously from $72.00) on shares of Rambus in a research report on Monday, May 13th. Susquehanna decreased their target price 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. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Rambus currently has an average rating of “Moderate Buy” and an average price target of $77.75.

About Rambus

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.