Rambus (NASDAQ:RMBS) Shares Gap Up – Time to Buy?

Shares of Rambus Inc. (NASDAQ:RMBS) gapped up prior to trading on Thursday . The stock had previously closed at $43.26, but opened at $44.76. Rambus shares last traded at $44.14, with a volume of 61,772 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Rosenblatt Securities reiterated a “buy” rating and issued a $85.00 target price on shares of Rambus in a research note on Tuesday, September 10th. Susquehanna cut their price objective 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.

Rambus Price Performance

The business has a fifty day moving average of $42.20 and a 200-day moving average of $51.92. The stock has a market capitalization of $4.71 billion, a price-to-earnings ratio of 13.23 and a beta of 1.19.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.12). The company 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 company’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.36 EPS. As a group, research analysts anticipate that Rambus Inc. will post 1.41 EPS for the current year.

Hedge Funds Weigh In On Rambus

A number of institutional investors have recently bought and sold shares of RMBS. Goldman Sachs Group Inc. increased its stake in Rambus by 18.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 858,444 shares of the semiconductor company’s stock worth $58,589,000 after purchasing an additional 133,304 shares in the last quarter. Wellington Management Group LLP boosted its position in Rambus by 120.4% during the 4th quarter. Wellington Management Group LLP now owns 3,933,923 shares of the semiconductor company’s stock worth $268,490,000 after acquiring an additional 2,149,396 shares during the period. Rise Advisors LLC acquired a new stake in Rambus during the 1st quarter worth about $28,000. Diversified Trust Co boosted its position in Rambus by 7.7% during the 1st quarter. Diversified Trust Co now owns 23,199 shares of the semiconductor company’s stock worth $1,434,000 after acquiring an additional 1,650 shares during the period. Finally, Vaughan Nelson Investment Management L.P. boosted its position in Rambus by 14.3% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 939,682 shares of the semiconductor company’s stock worth $58,081,000 after acquiring an additional 117,285 shares during the period. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Company 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.