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

Rambus Inc. (NASDAQ:RMBS) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 3,390,000 shares, a growth of 29.4% from the August 15th total of 2,620,000 shares. Approximately 3.2% of the company’s shares are short sold. Based on an average daily trading volume, of 1,630,000 shares, the short-interest ratio is presently 2.1 days.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RMBS. Rosenblatt Securities reissued a “buy” rating and issued a $85.00 price objective on shares of Rambus in a research note on Tuesday, September 10th. Susquehanna dropped their price objective 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. One equities 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, the company presently has an average rating of “Moderate Buy” and an average price target of $77.75.

Rambus Trading Down 4.0 %

Shares of RMBS stock traded down $1.62 during mid-day trading on Monday, reaching $39.25. The stock had a trading volume of 677,988 shares, compared to its average volume of 1,538,229. Rambus has a 1-year low of $37.42 and a 1-year high of $76.38. The business’s fifty day moving average is $49.39 and its 200-day moving average is $55.30. The firm has a market cap of $4.23 billion, a price-to-earnings ratio of 12.50 and a beta of 1.19.

Rambus (NASDAQ:RMBS) last announced 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 for the quarter, compared to analysts’ expectations of $139.00 million. During the same quarter in the prior year, the business posted $0.36 earnings per share. The firm’s revenue was up 10.3% compared to the same quarter last year. On average, analysts forecast that Rambus will post 1.41 earnings per share for the current year.

Institutional Trading of Rambus

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Rambus by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 11,651,114 shares of the semiconductor company’s stock valued at $720,155,000 after buying an additional 275,160 shares during the period. Wellington Management Group LLP lifted its stake in shares of Rambus by 120.4% in the 4th 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 last quarter. Bank of New York Mellon Corp grew its holdings in shares of Rambus by 6.1% during the 1st quarter. Bank of New York Mellon Corp now owns 2,307,798 shares of the semiconductor company’s stock worth $142,645,000 after purchasing an additional 132,939 shares during the period. Hood River Capital Management LLC increased its position in shares of Rambus by 5.7% during the 2nd quarter. Hood River Capital Management LLC now owns 2,165,548 shares of the semiconductor company’s stock worth $127,248,000 after purchasing an additional 116,976 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Rambus by 9.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,798,485 shares of the semiconductor company’s stock valued at $105,673,000 after buying an additional 158,259 shares during the last quarter. Institutional investors and hedge funds 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.