Rambus Inc. (NASDAQ:RMBS) Short Interest Update

Rambus Inc. (NASDAQ:RMBS) was the recipient of a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 2,920,000 shares, a decline of 25.7% from the September 15th total of 3,930,000 shares. Approximately 2.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,900,000 shares, the days-to-cover ratio is currently 1.5 days.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $85.00 price target on shares of Rambus in a report on Tuesday, September 10th. 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.

Institutional Investors Weigh In On Rambus

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rise Advisors LLC bought a new stake in shares of Rambus during the first quarter worth about $28,000. Quarry LP bought a new stake in Rambus in the 2nd quarter worth about $38,000. Fifth Third Bancorp boosted its stake in Rambus by 68.7% in the second quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 296 shares during the last quarter. Blue Trust Inc. grew its position in shares of Rambus by 240.6% during the 2nd quarter. Blue Trust Inc. now owns 1,141 shares of the semiconductor company’s stock valued at $71,000 after acquiring an additional 806 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Rambus during the 2nd quarter valued at approximately $87,000. 88.54% of the stock is owned by institutional investors.

Rambus Stock Up 2.3 %

RMBS stock opened at $45.06 on Tuesday. Rambus has a 12-month low of $37.42 and a 12-month high of $76.38. The firm has a market cap of $4.85 billion, a price-to-earnings ratio of 21.56 and a beta of 1.19. The company’s fifty day simple moving average is $42.10 and its 200 day simple moving average is $52.11.

Rambus (NASDAQ:RMBS) last posted its quarterly 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). 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 the consensus estimate of $139.00 million. During the same period last year, the firm posted $0.36 earnings per share. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. Research analysts expect that Rambus will post 1.41 earnings per share for the current year.

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.