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

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

Rambus Trading Down 2.7 %

Shares of NASDAQ:RMBS traded down $1.09 on Monday, hitting $39.78. 1,987,746 shares of the company were exchanged, compared to its average volume of 1,545,596. Rambus has a 1-year low of $37.42 and a 1-year high of $76.38. The stock’s 50 day moving average price is $48.90 and its 200 day moving average price is $55.16. The firm has a market capitalization of $4.29 billion, a P/E ratio of 12.17 and a beta of 1.19.

Rambus (NASDAQ:RMBS) last posted 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). 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 analyst estimates of $139.00 million. During the same quarter in the previous year, the firm posted $0.36 earnings per share. The company’s quarterly revenue was up 10.3% on a year-over-year basis. On average, equities analysts predict that Rambus will post 1.41 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on RMBS shares. Susquehanna lowered their target price on shares of Rambus from $75.00 to $66.00 and set a “positive” rating for the company in a research note on Friday, July 26th. Rosenblatt Securities restated a “buy” rating and issued a $85.00 target price on shares of Rambus in a research note on Tuesday, September 10th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.75.

Institutional Investors Weigh In On Rambus

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP raised its holdings in shares of Rambus by 120.4% during the fourth quarter. Wellington Management Group LLP now owns 3,933,923 shares of the semiconductor company’s stock worth $268,490,000 after purchasing an additional 2,149,396 shares during the last quarter. Norges Bank purchased a new position in shares of Rambus during the fourth quarter worth $84,756,000. Swedbank AB purchased a new position in shares of Rambus during the first quarter worth $61,377,000. AQR Capital Management LLC raised its holdings in shares of 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 purchasing an additional 486,078 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Rambus by 63.8% during the second quarter. American Century Companies Inc. now owns 1,053,377 shares of the semiconductor company’s stock worth $61,897,000 after purchasing an additional 410,332 shares during the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Rambus Company 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.