Rambus Inc. (NASDAQ:RMBS) Shares Bought by American Century Companies Inc.

American Century Companies Inc. raised its holdings in shares of Rambus Inc. (NASDAQ:RMBS) by 63.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,053,377 shares of the semiconductor company’s stock after purchasing an additional 410,332 shares during the period. American Century Companies Inc.’s holdings in Rambus were worth $61,897,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Rise Advisors LLC purchased a new position in Rambus during the 1st quarter worth $28,000. Fifth Third Bancorp boosted its position in Rambus by 68.7% during the second quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 296 shares in the last quarter. Blue Trust Inc. boosted its position in Rambus by 240.6% during the second quarter. Blue Trust Inc. now owns 1,141 shares of the semiconductor company’s stock worth $71,000 after purchasing an additional 806 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Rambus in the second quarter valued at approximately $87,000. Finally, Fidelis Capital Partners LLC acquired a new position in shares of Rambus during the 1st quarter worth approximately $90,000. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Analysts Set New Price Targets

RMBS has been the topic of a number of research analyst reports. Susquehanna dropped their price target on shares of Rambus from $75.00 to $66.00 and set a “positive” rating on the stock in a research note on Friday, July 26th. Rosenblatt Securities reiterated a “buy” rating and issued a $85.00 target price on shares of Rambus in a research report on Tuesday, September 10th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $77.75.

Rambus Price Performance

Shares of NASDAQ:RMBS opened at $40.87 on Monday. Rambus Inc. has a 1 year low of $37.42 and a 1 year high of $76.38. The firm has a market capitalization of $4.40 billion, a PE ratio of 12.50 and a beta of 1.19. The business’s 50 day moving average price is $49.39 and its 200-day moving average price is $55.30.

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). The business had revenue of $132.10 million for the quarter, compared to analyst estimates of $139.00 million. Rambus had a return on equity of 16.74% and a net margin of 48.31%. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period last year, the firm earned $0.36 EPS. As a group, analysts expect that Rambus Inc. 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.