Great Valley Advisor Group Inc. Invests $482,000 in Rambus Inc. (NASDAQ:RMBS)

Great Valley Advisor Group Inc. purchased a new position in shares of Rambus Inc. (NASDAQ:RMBS) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,200 shares of the semiconductor company’s stock, valued at approximately $482,000.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings 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. Wellington Management Group LLP increased its holdings 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. Bank of New York Mellon Corp increased its holdings in Rambus by 6.1% in the first quarter. Bank of New York Mellon Corp now owns 2,307,798 shares of the semiconductor company’s stock valued at $142,645,000 after purchasing an additional 132,939 shares during the period. Hood River Capital Management LLC increased its holdings in Rambus by 4.4% in the first quarter. Hood River Capital Management LLC now owns 2,048,572 shares of the semiconductor company’s stock valued at $126,622,000 after purchasing an additional 86,758 shares during the period. Finally, Captrust Financial Advisors increased its holdings in Rambus by 16.3% in the first quarter. Captrust Financial Advisors now owns 1,258,976 shares of the semiconductor company’s stock valued at $77,817,000 after purchasing an additional 176,103 shares during the period. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RMBS has been the subject of a number of recent research reports. Jefferies Financial Group restated a “buy” rating and issued a $75.00 price objective (up from $72.00) on shares of Rambus in a report on Monday, May 13th. Susquehanna decreased their price objective on Rambus from $75.00 to $66.00 and set a “positive” rating for the company in a report on Friday, July 26th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $77.75.

Rambus Trading Down 0.9 %

Shares of RMBS opened at $43.56 on Thursday. The stock has a market capitalization of $4.69 billion, a P/E ratio of 13.32 and a beta of 1.20. The firm’s fifty day simple moving average is $55.43 and its two-hundred day simple moving average is $57.89. Rambus Inc. has a 12 month low of $38.91 and a 12 month high of $76.38.

Rambus (NASDAQ:RMBS) last released its quarterly earnings data on Monday, July 29th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.12). The company had revenue of $132.10 million for the quarter, compared to the consensus estimate of $139.00 million. Rambus had a return on equity of 16.74% and a net margin of 48.31%. Rambus’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period last year, the company earned $0.36 EPS. As a group, research analysts predict that Rambus Inc. will post 1.41 EPS for the current fiscal 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.