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

Key Points

• Rambus (NASDAQ:RMBS) received a downgrade from a "buy" to a "hold" rating from Wall Street Zen in a recent research note.
• Despite this downgrade, several analysts have increased their price targets for Rambus, with an average target now at $77.71, and a consensus rating of "Buy".
• Insiders have recently sold shares in the company, with important transactions disclosed that show a decrease in ownership positions by directors.

Rambus (NASDAQ:RMBS - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Sunday.

RMBS has been the topic of several other research reports. Susquehanna lifted their target price on Rambus from $70.00 to $75.00 and gave the company a "positive" rating in a research note on Tuesday, July 29th. Rosenblatt Securities increased their price target on Rambus from $80.00 to $90.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Finally, Jefferies Financial Group increased their price target on Rambus from $69.00 to $75.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $77.71.

Rambus Stock Up 5.0%

NASDAQ:RMBS traded up $3.67 on Friday, hitting $76.44. The stock had a trading volume of 1,108,912 shares, compared to its average volume of 1,060,278. The stock has a market cap of $8.22 billion, a price-to-earnings ratio of 36.06 and a beta of 1.28. The business's 50-day simple moving average is $65.25 and its two-hundred day simple moving average is $58.32. Rambus has a 52-week low of $37.42 and a 52-week high of $76.63.

Insider Transactions at Rambus

In other Rambus news, Director Emiko Higashi sold 1,111 shares of the business's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $75.00, for a total transaction of $83,325.00. Following the transaction, the director owned 63,371 shares of the company's stock, valued at approximately $4,752,825. The trade was a 1.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Steven Laub sold 1,847 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $55.12, for a total transaction of $101,806.64. Following the completion of the transaction, the director owned 9,057 shares in the company, valued at approximately $499,221.84. This represents a 16.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,111 shares of company stock valued at $939,567 over the last ninety days. Insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On Rambus

Institutional investors have recently bought and sold shares of the company. Sequoia Financial Advisors LLC boosted its stake in shares of Rambus by 19.1% in the 1st quarter. Sequoia Financial Advisors LLC now owns 5,041 shares of the semiconductor company's stock valued at $261,000 after buying an additional 808 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Rambus by 53.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,602 shares of the semiconductor company's stock valued at $554,000 after buying an additional 3,711 shares during the period. KBC Group NV boosted its stake in shares of Rambus by 18.9% in the 1st quarter. KBC Group NV now owns 4,765 shares of the semiconductor company's stock valued at $247,000 after buying an additional 757 shares during the period. GAMMA Investing LLC boosted its stake in shares of Rambus by 45.8% in the 1st quarter. GAMMA Investing LLC now owns 4,573 shares of the semiconductor company's stock valued at $237,000 after buying an additional 1,436 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Rambus by 57.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,912 shares of the semiconductor company's stock valued at $358,000 after buying an additional 2,522 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.