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

StockNews.com lowered shares of Rambus (NASDAQ:RMBS) from a buy rating to a hold rating in a report issued on Wednesday morning.

Other research analysts have also recently issued research reports about the stock. Evercore ISI assumed coverage on shares of Rambus in a report on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 price target for the company. Robert W. Baird set a $90.00 target price on shares of Rambus in a research note on Monday, February 3rd. Baird R W raised Rambus to a “strong-buy” rating in a research note on Monday, November 25th. Susquehanna boosted their price target on Rambus from $66.00 to $70.00 and gave the company a “positive” rating in a report on Tuesday, February 4th. Finally, Loop Capital initiated coverage on Rambus in a report on Monday, November 11th. They set a “buy” rating and a $70.00 price objective for the company. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $76.71.

Rambus Stock Performance

Shares of RMBS opened at $53.95 on Wednesday. The stock has a 50 day simple moving average of $59.80 and a 200 day simple moving average of $52.06. Rambus has a 52-week low of $37.42 and a 52-week high of $69.15. The firm has a market capitalization of $5.76 billion, a PE ratio of 32.50 and a beta of 1.26.

Insider Activity

In related news, COO Xianzhi Sean Fan sold 52,327 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $68.02, for a total transaction of $3,559,282.54. Following the completion of the transaction, the chief operating officer now directly owns 93,841 shares of the company’s stock, valued at approximately $6,383,064.82. This represents a 35.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Necip Sayiner sold 4,625 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $66.74, for a total value of $308,672.50. Following the transaction, the director now directly owns 42,000 shares in the company, valued at $2,803,080. This trade represents a 9.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 62,360 shares of company stock worth $4,182,809 in the last quarter. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of Rambus

A number of large investors have recently added to or reduced their stakes in RMBS. Lindbrook Capital LLC increased its stake in shares of Rambus by 12.3% during the 4th quarter. Lindbrook Capital LLC now owns 1,513 shares of the semiconductor company’s stock worth $80,000 after purchasing an additional 166 shares during the last quarter. Mariner LLC grew its holdings in Rambus by 1.4% during the fourth quarter. Mariner LLC now owns 12,473 shares of the semiconductor company’s stock worth $659,000 after purchasing an additional 167 shares during the period. Hillsdale Investment Management Inc. increased its position in Rambus by 0.4% during the fourth quarter. Hillsdale Investment Management Inc. now owns 45,400 shares of the semiconductor company’s stock worth $2,400,000 after buying an additional 200 shares during the last quarter. Arizona State Retirement System raised its stake in Rambus by 0.7% in the fourth quarter. Arizona State Retirement System now owns 31,237 shares of the semiconductor company’s stock valued at $1,651,000 after buying an additional 202 shares during the period. Finally, Nations Financial Group Inc. IA ADV lifted its position in shares of Rambus by 2.8% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 8,925 shares of the semiconductor company’s stock valued at $472,000 after buying an additional 246 shares during the last quarter. Institutional investors and hedge funds own 88.54% of the company’s stock.

Rambus Company Profile

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.