Rambus (NASDAQ:RMBS) Sets New 52-Week Low – Here’s Why

Rambus, Inc. (NASDAQ:RMBS) reached a new 52-week low during trading on Thursday. The company traded as low as $75.54 and last traded at $72.9770, with a volume of 157,434 shares changing hands. The stock had previously closed at $82.90.

Analysts Set New Price Targets

RMBS has been the subject of a number of research reports. Glj Research set a $165.00 price target on shares of Rambus in a research report on Tuesday, July 28th. Evercore restated an “outperform” rating and issued a $150.00 price objective on shares of Rambus in a research note on Tuesday, October 27th. UBS Group set a $165.00 price objective on Rambus in a report on Tuesday, October 27th. Zacks Research upgraded Rambus from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 28th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Rambus in a research report on Wednesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $147.00.

Rambus Price Performance

The stock has a 50 day simple moving average of $93.56 and a two-hundred day simple moving average of $107.67. The company has a market cap of $7.64 billion, a PE ratio of 29.46 and a beta of 1.93.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings data on Monday, October 26th. The semiconductor company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.05. The business had revenue of $218.29 million during the quarter, compared to the consensus estimate of $213.21 million. Rambus had a return on equity of 19.43% and a net margin of 33.40%. As a group, equities analysts anticipate that Rambus, Inc. will post 2.64 EPS for the current fiscal year.

Institutional Trading of Rambus

Several institutional investors and hedge funds have recently bought and sold shares of the business. Danske Bank A S purchased a new position in Rambus during the 2nd quarter worth $27,000. Provenance Wealth Advisors LLC acquired a new position in Rambus in the third quarter valued at $29,000. City State Bank acquired a new position in Rambus in the third quarter valued at $32,000. Gen Wealth Partners Inc acquired a new position in Rambus in the third quarter valued at $38,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Rambus in the second quarter valued at about $41,000. Hedge funds and other institutional investors own 88.54% of the company’s stock.

About Rambus

Rambus Inc is a semiconductor technology company that develops and licenses intellectual property for memory and data-processing systems. Its technologies are designed to support higher bandwidth, improved performance, reliability and security across data centers, artificial intelligence and high-performance computing platforms, as well as other computing and communications applications.

The company offers memory interface products and intellectual property, including solutions for DDR5 and other advanced memory architectures, high-bandwidth memory, memory modules and associated system components.