Nisa Investment Advisors LLC Increases Position in Rambus Inc. (NASDAQ:RMBS)

Nisa Investment Advisors LLC raised its position in Rambus Inc. (NASDAQ:RMBS) by 11.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,996 shares of the semiconductor company’s stock after purchasing an additional 496 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Rambus were worth $294,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RMBS. Wellington Management Group LLP raised its position in Rambus by 120.4% in the fourth quarter. Wellington Management Group LLP now owns 3,933,923 shares of the semiconductor company’s stock valued at $268,490,000 after purchasing an additional 2,149,396 shares during the period. Norges Bank purchased a new stake in Rambus in the fourth quarter valued at approximately $84,756,000. Swedbank AB purchased a new stake in Rambus in the first quarter valued at approximately $61,377,000. Westfield Capital Management Co. LP purchased a new stake in Rambus in the first quarter valued at approximately $20,277,000. Finally, Vanguard Group Inc. raised its position in Rambus by 2.4% in the first quarter. Vanguard Group Inc. now owns 11,651,114 shares of the semiconductor company’s stock valued at $720,155,000 after purchasing an additional 275,160 shares during the period. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on RMBS shares. Susquehanna cut their price objective on Rambus from $75.00 to $66.00 and set a “positive” rating on the stock in a research report on Friday, July 26th. Jefferies Financial Group reaffirmed a “buy” rating and set a $75.00 price objective (up previously from $72.00) on shares of Rambus in a research report on Monday, May 13th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $77.75.

Rambus Stock Performance

Shares of NASDAQ RMBS opened at $46.65 on Friday. The stock’s 50-day simple moving average is $54.04 and its 200-day simple moving average is $56.86. The firm has a market capitalization of $5.03 billion, a PE ratio of 14.27 and a beta of 1.20. Rambus Inc. has a fifty-two week low of $38.91 and a fifty-two week high of $76.38.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings data 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 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 analysts’ expectations of $139.00 million. During the same quarter in the prior year, the firm posted $0.36 EPS. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. On average, sell-side analysts forecast that Rambus Inc. will post 1.41 earnings per share for the current fiscal 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.