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

StockNews.com downgraded shares of Rambus (NASDAQ:RMBS - Free Report) from a buy rating to a hold rating in a research report sent to investors on Saturday.

Several other equities analysts also recently weighed in on the company. Robert W. Baird set a $90.00 target price on Rambus in a research report on Monday, February 3rd. Evercore ISI began coverage on Rambus in a research report on Tuesday, February 4th. They issued an "outperform" rating and a $71.00 target price on the stock. Wells Fargo & Company boosted their price objective on shares of Rambus from $62.00 to $73.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. Rosenblatt Securities raised their price objective on shares of Rambus from $85.00 to $92.00 and gave the company a "buy" rating in a report on Tuesday, February 4th. Finally, Susquehanna lifted their price target on shares of Rambus from $66.00 to $70.00 and gave the stock a "positive" rating in a research note on Tuesday, February 4th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $75.00.

Rambus Trading Down 2.4 %

NASDAQ RMBS traded down $1.17 on Friday, hitting $48.10. 376,671 shares of the company's stock traded hands, compared to its average volume of 1,303,038. The firm's 50-day moving average price is $51.68 and its two-hundred day moving average price is $54.52. The firm has a market capitalization of $5.17 billion, a PE ratio of 28.98 and a beta of 1.20. Rambus has a 1-year low of $37.43 and a 1-year high of $69.15.

Insider Buying and Selling at Rambus

In related news, COO Xianzhi Sean Fan sold 52,327 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $68.02, for a total value of $3,559,282.54. Following the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Luc Seraphin sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $46.81, for a total value of $468,100.00. Following the completion of the sale, the chief executive officer now directly owns 336,844 shares in the company, valued at approximately $15,767,667.64. The trade was a 2.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,300 shares of company stock valued at $6,745,221 in the last ninety days. Insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On Rambus

Several hedge funds have recently modified their holdings of RMBS. Price T Rowe Associates Inc. MD raised its position in shares of Rambus by 442.8% in 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 buying an additional 4,445,146 shares during the period. Invesco Ltd. lifted its position in shares of Rambus by 72.1% during the fourth 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 in the last quarter. Norges Bank acquired a new stake in shares of Rambus during the fourth quarter valued at about $94,368,000. Raymond James Financial Inc. purchased a new stake in shares of Rambus during the fourth quarter worth about $51,500,000. Finally, Congress Asset Management Co. acquired a new position in shares of Rambus in the fourth quarter worth about $45,778,000. 88.54% of the stock is owned by institutional investors and hedge funds.

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.