Bailard Inc. Acquires 2,740 Shares of Rambus Inc. (NASDAQ:RMBS)

Bailard Inc. grew its holdings in shares of Rambus Inc. (NASDAQ:RMBS) by 9.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,168 shares of the semiconductor company’s stock after buying an additional 2,740 shares during the quarter. Bailard Inc.’s holdings in Rambus were worth $1,890,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Coldstream Capital Management Inc. grew its stake in Rambus by 3.9% in the 4th quarter. Coldstream Capital Management Inc. now owns 4,632 shares of the semiconductor company’s stock valued at $316,000 after buying an additional 173 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in Rambus by 0.7% in the 1st quarter. Louisiana State Employees Retirement System now owns 30,900 shares of the semiconductor company’s stock valued at $1,910,000 after buying an additional 200 shares during the last quarter. Bleakley Financial Group LLC grew its stake in Rambus by 2.1% in the 1st quarter. Bleakley Financial Group LLC now owns 10,997 shares of the semiconductor company’s stock valued at $680,000 after buying an additional 229 shares during the last quarter. Fifth Third Bancorp grew its stake in Rambus by 68.7% in the 2nd quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 296 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its holdings in Rambus by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 135,005 shares of the semiconductor company’s stock valued at $8,345,000 after purchasing an additional 356 shares during the period. 88.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on RMBS shares. Susquehanna cut their price objective on shares of Rambus from $75.00 to $66.00 and set a “positive” rating for the company in a report on Friday, July 26th. Jefferies Financial Group reissued a “buy” rating and issued a $75.00 price objective (up previously from $72.00) on shares of Rambus in a report on Monday, May 13th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Rambus currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.75.

Rambus Price Performance

Shares of NASDAQ:RMBS opened at $44.87 on Tuesday. The company has a market cap of $4.84 billion, a price-to-earnings ratio of 13.72 and a beta of 1.20. The firm has a 50 day simple moving average of $53.80 and a 200 day simple moving average of $56.81. Rambus Inc. has a one year low of $38.91 and a one year high of $76.38.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings data on Monday, July 29th. The semiconductor company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.12). The company had revenue of $132.10 million during the quarter, compared to the consensus estimate of $139.00 million. Rambus had a net margin of 48.31% and a return on equity of 16.74%. Rambus’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.36 EPS. As a group, analysts expect that Rambus Inc. will post 1.41 EPS for the current year.

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.