Rambus Inc. (NASDAQ:RMBS) Sees Significant Decrease in Short Interest

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

Rambus Stock Performance

Shares of Rambus stock opened at $45.06 on Tuesday. Rambus has a 52-week low of $37.42 and a 52-week high of $76.38. The company has a fifty day moving average of $42.10 and a 200-day moving average of $52.11. The stock has a market capitalization of $4.85 billion, a price-to-earnings ratio of 21.56 and a beta of 1.19.

Rambus (NASDAQ:RMBS) last posted its quarterly 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 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 was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.36 earnings per share. On average, equities research analysts forecast that Rambus will post 1.41 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on RMBS. 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. Susquehanna dropped their target price on shares of Rambus from $75.00 to $66.00 and set a “positive” rating for the company in a research report on Friday, July 26th.

Institutional Investors Weigh In On Rambus

Large investors have recently added to or reduced their stakes in the company. Rise Advisors LLC bought a new stake in shares of Rambus in the first quarter worth about $28,000. Quarry LP bought a new position in shares of Rambus during the second quarter valued at approximately $38,000. Fifth Third Bancorp raised its holdings in shares of Rambus by 68.7% during 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 in the last quarter. Blue Trust Inc. lifted its stake in Rambus by 240.6% in the second quarter. Blue Trust Inc. now owns 1,141 shares of the semiconductor company’s stock worth $71,000 after acquiring an additional 806 shares during the period. Finally, Fidelis Capital Partners LLC purchased a new position in Rambus during the 1st quarter valued at $90,000. Institutional investors own 88.54% of the company’s stock.

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.