Rambus (NASDAQ:RMBS) Lowered to "Neutral" Rating by Susquehanna

Key Points

• Rambus (NASDAQ:RMBS) has been downgraded from a "strong-buy" rating to a "hold" rating by analysts at Susquehanna, following similar ratings changes by Wall Street Zen.
• Despite the downgrade, the current consensus rating remains a "Buy," with an average price target of $96.63 based on multiple analysts' reports.
• Insider selling has been notable, with CFO Desmond Lynch selling over 9,000 shares, representing a 12.34% decrease in his holdings, indicating possible concerns about the company's future performance.

Rambus (NASDAQ:RMBS - Get Free Report) was downgraded by Susquehanna from a "positive" rating to a "neutral" rating in a report released on Monday, Marketbeat reports. They currently have a $100.00 price target on the semiconductor company's stock. Susquehanna's target price suggests a potential downside of 0.99% from the stock's previous close.

A number of other equities research analysts have also recently commented on the company. Wall Street Zen cut Rambus from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. Arete upgraded Rambus from a "neutral" rating to a "buy" rating and set a $91.00 price target for the company in a research report on Thursday, August 28th. Rosenblatt Securities raised their price objective on Rambus from $90.00 to $130.00 and gave the company a "buy" rating in a report on Wednesday, September 17th. Weiss Ratings reissued a "buy (b-)" rating on shares of Rambus in a report on Saturday, September 27th. Finally, Arete Research raised Rambus to a "strong-buy" rating in a report on Thursday, August 28th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $96.63.

Rambus Stock Up 1.0%

Shares of Rambus stock opened at $101.00 on Monday. The stock's fifty day moving average is $83.48 and its two-hundred day moving average is $65.69. The company has a market capitalization of $10.87 billion, a PE ratio of 47.64 and a beta of 1.46. Rambus has a 52 week low of $40.12 and a 52 week high of $109.15.

Insiders Place Their Bets

In other Rambus news, CFO Desmond Lynch sold 9,074 shares of Rambus stock in a transaction on Monday, September 15th. The stock was sold at an average price of $91.70, for a total value of $832,085.80. Following the sale, the chief financial officer owned 64,430 shares in the company, valued at $5,908,231. The trade was a 12.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Meera Rao sold 653 shares of Rambus stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $101.99, for a total value of $66,599.47. Following the completion of the sale, the director owned 29,261 shares in the company, valued at $2,984,329.39. This represents a 2.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,913 shares of company stock worth $2,474,452 over the last ninety days. Company insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Moody National Bank Trust Division boosted its position in shares of Rambus by 146.7% during the 3rd quarter. Moody National Bank Trust Division now owns 21,975 shares of the semiconductor company's stock worth $2,290,000 after acquiring an additional 13,069 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Rambus by 5.6% during the 3rd quarter. GAMMA Investing LLC now owns 4,680 shares of the semiconductor company's stock worth $488,000 after acquiring an additional 249 shares in the last quarter. Praxis Investment Management Inc. acquired a new stake in shares of Rambus in the 3rd quarter valued at about $270,000. Texas Permanent School Fund Corp boosted its position in shares of Rambus by 28.9% in the 2nd quarter. Texas Permanent School Fund Corp now owns 55,810 shares of the semiconductor company's stock valued at $3,573,000 after purchasing an additional 12,520 shares during the period. Finally, Osaic Holdings Inc. boosted its position in shares of Rambus by 37.1% in the 2nd quarter. Osaic Holdings Inc. now owns 11,620 shares of the semiconductor company's stock valued at $702,000 after purchasing an additional 3,146 shares during the period. 88.54% of the stock is owned by institutional investors and hedge funds.

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.