Rambus (NASDAQ:RMBS) Lowered to “Hold” Rating by StockNews.com

Rambus (NASDAQ:RMBS) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Monday.

A number of other equities research analysts have also recently issued reports on RMBS. Rosenblatt Securities reissued a “buy” rating and set a $80.00 target price on shares of Rambus in a report on Tuesday, April 29th. Robert W. Baird set a $90.00 target price on shares of Rambus in a report on Monday, February 3rd. Evercore ISI assumed coverage on shares of Rambus in a report on Tuesday, February 4th. They set an “outperform” rating and a $71.00 target price on the stock. Susquehanna upped their price target on shares of Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a report on Tuesday, February 4th. Finally, Wells Fargo & Company upped their price target on shares of Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $75.00.

Rambus Stock Performance

RMBS stock traded down $0.54 during midday trading on Monday, reaching $55.81. 619,767 shares of the company’s stock traded hands, compared to its average volume of 1,294,688. The company has a 50-day moving average price of $50.99 and a two-hundred day moving average price of $55.36. Rambus has a 52 week low of $37.43 and a 52 week high of $69.15. The firm has a market capitalization of $5.99 billion, a PE ratio of 33.62 and a beta of 1.24.

Insider Activity at Rambus

In other news, COO Xianzhi Sean Fan sold 52,327 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $68.02, for a total value of $3,559,282.54. Following the completion of the sale, the chief operating officer now directly owns 93,841 shares of the company’s stock, valued at $6,383,064.82. This trade represents a 35.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Luc Seraphin sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $53.79, for a total value of $537,900.00. Following the completion of the sale, the chief executive officer now owns 316,931 shares in the company, valued at approximately $17,047,718.49. The trade was a 3.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,300 shares of company stock worth $6,745,221. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RMBS. Price T Rowe Associates Inc. MD increased its holdings in Rambus by 442.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,449,128 shares of the semiconductor company’s stock worth $288,042,000 after purchasing an additional 4,445,146 shares during the period. Invesco Ltd. increased its holdings in Rambus by 72.1% during the 4th quarter. Invesco Ltd. now owns 4,999,748 shares of the semiconductor company’s stock worth $264,287,000 after purchasing an additional 2,093,953 shares during the period. Norges Bank purchased a new position in Rambus during the 4th quarter worth $94,368,000. EdgePoint Investment Group Inc. purchased a new position in Rambus during the 1st quarter worth $60,535,000. Finally, Nuveen LLC purchased a new position in Rambus during the 1st quarter worth $57,084,000. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

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.