AlphaMark Advisors LLC Acquires New Position in Rambus Inc. (NASDAQ:RMBS)

AlphaMark Advisors LLC acquired a new stake in Rambus Inc. (NASDAQ:RMBS) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 5,817 shares of the semiconductor company’s stock, valued at approximately $342,000.

A number of other hedge funds have also added to or reduced their stakes in RMBS. Rise Advisors LLC purchased a new stake in shares of Rambus in the 1st quarter worth approximately $28,000. GAMMA Investing LLC purchased a new stake in shares of Rambus during the 4th quarter worth $66,000. Fidelis Capital Partners LLC bought a new stake in Rambus during the first quarter valued at about $90,000. MeadowBrook Investment Advisors LLC purchased a new position in Rambus in the fourth quarter valued at about $159,000. Finally, Covestor Ltd raised its holdings in Rambus by 33.9% in the first quarter. Covestor Ltd now owns 2,989 shares of the semiconductor company’s stock worth $185,000 after purchasing an additional 757 shares in the last quarter. 88.54% of the stock is currently owned by institutional investors.

Rambus Trading Up 7.1 %

Shares of RMBS stock traded up $3.11 during trading hours on Thursday, reaching $46.67. 2,156,071 shares of the company’s stock were exchanged, compared to its average volume of 1,531,475. Rambus Inc. has a 1 year low of $38.91 and a 1 year high of $76.38. The stock has a market cap of $5.03 billion, a PE ratio of 14.27 and a beta of 1.20. The stock’s fifty day moving average price is $55.24 and its two-hundred day moving average price is $57.82.

Rambus (NASDAQ:RMBS) last released its earnings results on Monday, July 29th. The semiconductor company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.12). The company had revenue of $132.10 million for 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 firm’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.36 EPS. On average, equities analysts expect that Rambus Inc. will post 1.41 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Jefferies Financial Group reaffirmed a “buy” rating and issued a $75.00 price objective (up previously from $72.00) on shares of Rambus in a research report on Monday, May 13th. Susquehanna cut their price target 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 given a buy rating to the stock. According to MarketBeat, Rambus currently has an average rating of “Moderate Buy” and an average price target of $77.75.

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.