Rambus (NASDAQ:RMBS) Downgraded by Wall Street Zen to "Hold"

Key Points

• Wall Street Zen downgraded Rambus from “Buy” to “Hold.” Despite the downgrade, analysts’ consensus rating remains “Moderate Buy,” with an average price target of $147.
• Rambus shares opened at $82.23, down 3.2%; the stock’s 52-week range is $68.19 to $174.10.
• The company beat quarterly earnings and revenue expectations, reporting EPS of $0.84 versus $0.79 forecast and revenue of $218.29 million versus $213.21 million expected.

Rambus (NASDAQ:RMBS - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday, Wall Street Zen reports.

Several other research firms have also weighed in on RMBS. Zacks Research upgraded Rambus from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 28th. UBS Group set a $165.00 price objective on shares of Rambus in a research report on Tuesday, October 27th. Evercore reissued an "outperform" rating and set a $150.00 price target on shares of Rambus in a research report on Tuesday, October 27th. Glj Research set a $165.00 price target on Rambus in a report on Tuesday, July 28th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $165.00 price objective on shares of Rambus in a research note on Tuesday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $147.00.

Rambus Stock Down 3.2%

Rambus stock opened at $82.23 on Friday. Rambus has a 52-week low of $68.19 and a 52-week high of $174.10. The firm's fifty day moving average is $92.58 and its 200 day moving average is $106.39. The company has a market cap of $8.81 billion, a price-to-earnings ratio of 33.99 and a beta of 1.93.

Rambus (NASDAQ:RMBS - Get Free Report) last issued its quarterly earnings data on Monday, October 26th. The semiconductor company reported $0.84 EPS for the quarter, topping analysts' consensus estimates of $0.79 by $0.05. Rambus had a net margin of 33.40% and a return on equity of 19.43%. The business had revenue of $218.29 million during the quarter, compared to analysts' expectations of $213.21 million. On average, equities research analysts anticipate that Rambus will post 2.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rambus

A number of large investors have recently modified their holdings of RMBS. Danske Bank A S purchased a new position in shares of Rambus in the 2nd quarter valued at approximately $27,000. Provenance Wealth Advisors LLC acquired a new stake in Rambus in the 3rd quarter worth approximately $29,000. City State Bank acquired a new stake in Rambus in the 3rd quarter worth approximately $32,000. Gen Wealth Partners Inc purchased a new stake in Rambus during the 3rd quarter worth approximately $38,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Rambus during the 2nd quarter worth approximately $41,000. Hedge funds and other institutional investors own 88.54% of the company's stock.

Rambus Company Profile

Rambus Inc. develops semiconductor technology used to move and protect data in electronic systems. Its business includes memory-interface chips and silicon intellectual property licensed to semiconductor manufacturers and other technology companies. The company's products include memory interface components for advanced memory systems, such as registered clock drivers and data buffers, as well as security technologies for applications including cryptography and hardware-based protection. These solutions serve markets such as data centers, computing, and consumer electronics.

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