Rambus Inc. (NASDAQ:RMBS) Shares Purchased by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust grew its stake in shares of Rambus Inc. (NASDAQ:RMBS) by 13.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 306,695 shares of the semiconductor company’s stock after purchasing an additional 35,265 shares during the quarter. Emerald Mutual Fund Advisers Trust owned approximately 0.28% of Rambus worth $18,021,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of RMBS. Assenagon Asset Management S.A. raised its stake in Rambus by 386.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 288,363 shares of the semiconductor company’s stock worth $16,944,000 after acquiring an additional 229,066 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Rambus during the fourth quarter worth about $1,434,000. American International Group Inc. increased its position in shares of Rambus by 231.7% during the fourth quarter. American International Group Inc. now owns 198,577 shares of the semiconductor company’s stock worth $13,553,000 after purchasing an additional 138,714 shares in the last quarter. Magnetar Financial LLC purchased a new stake in shares of Rambus in the 1st quarter valued at about $1,289,000. Finally, Rafferty Asset Management LLC boosted its position in shares of Rambus by 13.5% in the 4th quarter. Rafferty Asset Management LLC now owns 677,660 shares of the semiconductor company’s stock valued at $46,250,000 after purchasing an additional 80,670 shares during the period. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on RMBS shares. Jefferies Financial Group reiterated a “buy” rating and issued a $75.00 price objective (up previously from $72.00) on shares of Rambus in a research note on Monday, May 13th. Susquehanna cut their target price on shares of Rambus from $75.00 to $66.00 and set a “positive” rating on the stock in a report on Friday, July 26th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Rambus has an average rating of “Moderate Buy” and a consensus target price of $77.75.

Rambus Stock Down 5.3 %

Shares of RMBS stock opened at $37.86 on Friday. Rambus Inc. has a 52-week low of $37.42 and a 52-week high of $76.38. The stock’s 50-day moving average price is $51.40 and its 200 day moving average price is $55.90. The stock has a market capitalization of $4.08 billion, a PE ratio of 11.58 and a beta of 1.19.

Rambus (NASDAQ:RMBS) last released its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.12). Rambus had a return on equity of 16.74% and a net margin of 48.31%. The company had revenue of $132.10 million for the quarter, compared to analysts’ expectations of $139.00 million. During the same quarter last year, the company earned $0.36 EPS. Rambus’s revenue for the quarter was up 10.3% compared to the same quarter last year. Analysts expect that Rambus Inc. will post 1.41 earnings per share for the current fiscal year.

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.