Rambus (NASDAQ:RMBS) Downgraded to Buy Rating by Wall Street Zen

Key Points

• Rambus (NASDAQ:RMBS) was recently downgraded from a "strong-buy" to a "buy" rating by Wall Street Zen.
• Multiple research firms raised their price targets for Rambus, with Rosenblatt Securities increasing it from $80.00 to $90.00, while Jefferies and Susquehanna also boosted their targets.
• Institutional investors have significantly increased their holdings in Rambus, with Price T Rowe Associates raising its position by 442.8% during the last quarter.

Wall Street Zen downgraded shares of Rambus (NASDAQ:RMBS - Free Report) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday.

Several other research analysts also recently issued reports on RMBS. Susquehanna upped their price objective on Rambus from $70.00 to $75.00 and gave the stock a "positive" rating in a report on Tuesday, July 29th. Rosenblatt Securities upped their price objective on Rambus from $80.00 to $90.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Finally, Jefferies Financial Group upped their price objective on Rambus from $69.00 to $75.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $77.71.

Rambus Price Performance

Shares of RMBS traded down $2.40 on Friday, hitting $71.40. The company's stock had a trading volume of 470,411 shares, compared to its average volume of 1,055,126. The company has a market capitalization of $7.68 billion, a PE ratio of 33.81 and a beta of 1.28. Rambus has a fifty-two week low of $37.42 and a fifty-two week high of $76.20. The company has a 50 day moving average price of $63.40 and a 200 day moving average price of $57.98.

Insider Activity at Rambus

In related news, Director Steven Laub sold 1,847 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $55.12, for a total value of $101,806.64. Following the completion of the sale, the director owned 9,057 shares in the company, valued at $499,221.84. This represents a 16.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Rambus

A number of large investors have recently made changes to their positions in RMBS. Sequoia Financial Advisors LLC increased its holdings in Rambus by 19.1% during the 1st quarter. Sequoia Financial Advisors LLC now owns 5,041 shares of the semiconductor company's stock worth $261,000 after purchasing an additional 808 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Rambus by 53.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,602 shares of the semiconductor company's stock worth $554,000 after purchasing an additional 3,711 shares in the last quarter. KBC Group NV increased its holdings in Rambus by 18.9% during the 1st quarter. KBC Group NV now owns 4,765 shares of the semiconductor company's stock worth $247,000 after purchasing an additional 757 shares in the last quarter. GAMMA Investing LLC increased its holdings in Rambus by 45.8% during the 1st quarter. GAMMA Investing LLC now owns 4,573 shares of the semiconductor company's stock worth $237,000 after purchasing an additional 1,436 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Rambus by 57.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,912 shares of the semiconductor company's stock worth $358,000 after purchasing an additional 2,522 shares in the last quarter. Institutional investors own 88.54% of the company's stock.

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.