Rambus Inc. (NASDAQ:RMBS) Short Interest Up 29.4% in August

Rambus Inc. (NASDAQ:RMBS) saw a significant growth in short interest in August. As of August 31st, there was short interest totalling 3,390,000 shares, a growth of 29.4% from the August 15th total of 2,620,000 shares. Currently, 3.2% of the shares of the company are short sold. Based on an average daily trading volume, of 1,630,000 shares, the short-interest ratio is currently 2.1 days.

Institutional Trading of Rambus

Several institutional investors have recently modified their holdings of the stock. Sanctuary Advisors LLC acquired a new stake in shares of Rambus in the second quarter valued at about $240,000. Quarry LP acquired a new position in Rambus during the second quarter worth about $38,000. Algert Global LLC boosted its position in Rambus by 163.0% during the second quarter. Algert Global LLC now owns 97,993 shares of the semiconductor company’s stock worth $5,758,000 after acquiring an additional 60,733 shares during the last quarter. AQR Capital Management LLC boosted its position in Rambus by 559.7% during the second quarter. AQR Capital Management LLC now owns 572,930 shares of the semiconductor company’s stock worth $33,133,000 after acquiring an additional 486,078 shares during the last quarter. Finally, Apis Capital Advisors LLC boosted its position in Rambus by 106.9% during the second quarter. Apis Capital Advisors LLC now owns 120,000 shares of the semiconductor company’s stock worth $7,051,000 after acquiring an additional 62,000 shares during the last quarter. Institutional investors and hedge funds own 88.54% of the company’s stock.

Analysts Set New Price Targets

RMBS has been the subject of a number of recent analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Rambus in a report on Tuesday, September 10th. 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. 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 presently has an average rating of “Moderate Buy” and a consensus target price of $77.75.

Rambus Trading Down 2.7 %

RMBS traded down $1.09 on Monday, reaching $39.78. The stock had a trading volume of 1,987,746 shares, compared to its average volume of 1,545,596. The business’s 50-day moving average price is $48.90 and its two-hundred day moving average price is $55.16. Rambus has a 12-month low of $37.42 and a 12-month high of $76.38. The company has a market cap of $4.29 billion, a P/E ratio of 12.17 and a beta of 1.19.

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