Rambus (NASDAQ:RMBS) Sets New 52-Week Low – Here’s What Happened

Rambus, Inc. (NASDAQ:RMBS) shares reached a new 52-week low during trading on Thursday. The company traded as low as $75.54 and last traded at $72.9770, with a volume of 157,434 shares traded. The stock had previously closed at $82.90.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on RMBS shares. Wall Street Zen raised Rambus from a “hold” rating to a “buy” rating in a research note on Saturday, October 31st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rambus in a research report on Wednesday, September 2nd. Evercore reissued an “outperform” rating and issued a $150.00 price target on shares of Rambus in a report on Tuesday, October 27th. UBS Group set a $165.00 price objective on shares of Rambus in a research report on Tuesday, October 27th. Finally, Zacks Research raised shares of Rambus from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $147.00.

Rambus Price Performance

The firm has a market capitalization of $7.98 billion, a PE ratio of 30.67 and a beta of 1.93. The firm has a fifty day moving average price of $92.82 and a 200 day moving average price of $107.30.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings data on Monday, October 26th. The semiconductor company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.05. Rambus had a return on equity of 19.43% and a net margin of 33.40%. The firm had revenue of $218.29 million for the quarter, compared to the consensus estimate of $213.21 million. On average, sell-side analysts expect that Rambus, Inc. will post 2.64 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of RMBS. Diversified Trust Co grew its stake in Rambus by 15.4% in the third quarter. Diversified Trust Co now owns 12,536 shares of the semiconductor company’s stock valued at $1,338,000 after purchasing an additional 1,671 shares in the last quarter. William Blair Investment Management LLC raised its stake in shares of Rambus by 106.3% in the 3rd quarter. William Blair Investment Management LLC now owns 412,878 shares of the semiconductor company’s stock valued at $44,079,000 after acquiring an additional 212,762 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in Rambus by 26.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 204,908 shares of the semiconductor company’s stock worth $21,876,000 after purchasing an additional 42,729 shares during the last quarter. Illinois Municipal Retirement Fund lifted its holdings in Rambus by 26.8% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 34,798 shares of the semiconductor company’s stock worth $3,715,000 after purchasing an additional 7,365 shares during the last quarter. Finally, Lido Advisors LLC boosted its position in Rambus by 10.9% during the third quarter. Lido Advisors LLC now owns 7,800 shares of the semiconductor company’s stock worth $833,000 after purchasing an additional 765 shares during the period. Hedge funds and other institutional investors own 88.54% of the company’s stock.

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.