Rambus (NASDAQ:RMBS) Stock Price Down 6.1% – Here’s What Happened

Rambus, Inc. (NASDAQ:RMBS)’s share price traded down 6.1% during trading on Monday . The company traded as low as $104.01 and last traded at $105.2210. Approximately 490,576 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 2,672,134 shares. The stock had previously closed at $112.10.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on RMBS shares. Rosenblatt Securities increased their target price on shares of Rambus from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Weiss Ratings restated a “hold (c+)” rating on shares of Rambus in a research report on Friday, June 5th. Evercore reaffirmed an “outperform” rating and set a $172.00 price objective on shares of Rambus in a research note on Tuesday, April 28th. Robert W. Baird cut Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price objective for the company. in a research report on Tuesday, April 28th. Finally, Jefferies Financial Group increased their price objective on Rambus from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $130.43.

Rambus Trading Up 2.2%

The firm has a 50 day moving average of $133.33 and a two-hundred day moving average of $113.99. The stock has a market capitalization of $11.40 billion, a PE ratio of 50.18 and a beta of 1.84.

Rambus (NASDAQ:RMBS) last posted its earnings results on Monday, April 27th. The semiconductor company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. The firm had revenue of $180.19 million for the quarter, compared to analyst estimates of $179.94 million. Rambus had a return on equity of 17.41% and a net margin of 31.90%. Equities research analysts forecast that Rambus, Inc. will post 2.44 EPS for the current year.

Insiders Place Their Bets

In other Rambus news, Director Necip Sayiner sold 5,000 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $170.15, for a total transaction of $850,750.00. Following the transaction, the director owned 18,223 shares in the company, valued at $3,100,643.45. The trade was a 21.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Xianzhi Sean Fan sold 37,914 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $151.69, for a total value of $5,751,174.66. Following the transaction, the executive vice president directly owned 168,358 shares in the company, valued at $25,538,225.02. This trade represents a 18.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 65,886 shares of company stock worth $10,171,466. 0.75% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Acumen Wealth Advisors LLC acquired a new position in shares of Rambus in the 4th quarter valued at about $25,000. Torren Management LLC acquired a new stake in Rambus during the fourth quarter worth about $26,000. Spire Wealth Management raised its stake in Rambus by 199.0% during the fourth quarter. Spire Wealth Management now owns 302 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 201 shares during the period. University of Texas Texas AM Investment Management Co. bought a new position in Rambus in the fourth quarter worth about $28,000. Finally, Western Wealth Management LLC bought a new position in Rambus in the first quarter worth about $44,000. 88.54% of the stock is owned by institutional investors and hedge funds.

About Rambus

Rambus Inc is a technology licensing company specializing in semiconductor and system-level interface solutions. Founded in 1990 by Stanford University researchers Mike Farmwald and Mark Horowitz, Rambus established its headquarters in Sunnyvale, California. The company initially gained prominence by developing high-speed DRAM interface technology and securing a broad patent portfolio covering memory architecture, data signaling and power management innovations.

Today, Rambus licenses its proprietary intellectual property (IP) to semiconductor companies, original equipment manufacturers (OEMs) and system integrators worldwide.