Migdal Insurance & Financial Holdings Ltd. Invests $87,000 in Rambus Inc. (NASDAQ:RMBS)

Migdal Insurance & Financial Holdings Ltd. purchased a new position in Rambus Inc. (NASDAQ:RMBS) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,539 shares of the semiconductor company’s stock, valued at approximately $87,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rise Advisors LLC bought a new stake in Rambus during the first quarter worth $28,000. Fifth Third Bancorp raised its holdings in shares of Rambus by 68.7% during the 2nd quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company’s stock worth $43,000 after buying an additional 296 shares in the last quarter. GAMMA Investing LLC bought a new stake in shares of Rambus during the 4th quarter worth $66,000. Blue Trust Inc. boosted its stake in Rambus by 240.6% in the second quarter. Blue Trust Inc. now owns 1,141 shares of the semiconductor company’s stock valued at $71,000 after buying an additional 806 shares in the last quarter. Finally, Fidelis Capital Partners LLC acquired a new stake in Rambus in the first quarter valued at about $90,000. Institutional investors and hedge funds own 88.54% of the company’s stock.

Rambus Price Performance

RMBS stock traded down $0.02 during midday trading on Thursday, reaching $43.91. 1,169,846 shares of the stock were exchanged, compared to its average volume of 1,508,995. Rambus Inc. has a 52 week low of $38.91 and a 52 week high of $76.38. The company has a fifty day moving average price of $53.31 and a 200 day moving average price of $56.62. The stock has a market capitalization of $4.73 billion, a PE ratio of 13.72 and a beta of 1.20.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $139.00 million. During the same period in the previous year, the business posted $0.36 earnings per share. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. As a group, analysts anticipate that Rambus Inc. will post 1.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RMBS has been the subject of several research analyst reports. Susquehanna lowered their target price on Rambus from $75.00 to $66.00 and set a “positive” rating for the company in a research note on Friday, July 26th. Jefferies Financial Group reiterated a “buy” rating and set a $75.00 price objective (up from $72.00) on shares of Rambus in a research report on Monday, May 13th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.75.

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.