Rambus (NASDAQ:RMBS) Stock Rating Lowered by Weiss Ratings

Key Points

• Weiss Ratings downgraded Rambus from a "buy (b-)" to a "hold (c+)" rating, indicating a shift in analyst sentiment towards the stock.
• Analysts have mixed views on Rambus, with recent upgrades from Jefferies and Robert W. Baird setting target prices at $75.00 and $120.00 respectively, while maintaining an overall consensus rating of "Buy" with an average price target of $96.63.
• Insider activity shows significant stock sales, with Director Necip Sayiner and CFO Desmond Lynch reducing their positions, which could raise concerns about the company's internal confidence.

Rambus (NASDAQ:RMBS - Get Free Report) was downgraded by Weiss Ratings from a "buy (b-)" rating to a "hold (c+)" rating in a report issued on Wednesday,Weiss Ratings reports.

Several other analysts have also recently commented on the stock. Jefferies Financial Group upped their target price on shares of Rambus from $69.00 to $75.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Susquehanna set a $100.00 target price on shares of Rambus and gave the company a "neutral" rating in a research report on Monday. Robert W. Baird upped their target price on shares of Rambus from $90.00 to $120.00 and gave the company an "outperform" rating in a research report on Monday, September 15th. Wall Street Zen cut shares of Rambus from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. Finally, Arete raised Rambus from a "neutral" rating to a "buy" rating and set a $91.00 price objective on the stock in a research note on Thursday, August 28th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $96.63.

Rambus Stock Performance

Shares of Rambus stock opened at $99.43 on Wednesday. The firm has a fifty day moving average of $84.44 and a two-hundred day moving average of $66.14. The stock has a market capitalization of $10.70 billion, a price-to-earnings ratio of 46.90 and a beta of 1.46. Rambus has a 52 week low of $40.12 and a 52 week high of $109.15.

Insider Activity at Rambus

In related news, Director Necip Sayiner sold 7,500 shares of the company's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $73.53, for a total value of $551,475.00. Following the completion of the transaction, the director directly owned 38,324 shares of the company's stock, valued at approximately $2,817,963.72. This represents a 16.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Desmond Lynch sold 9,074 shares of the company's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $91.70, for a total transaction of $832,085.80. Following the completion of the transaction, the chief financial officer directly owned 64,430 shares of the company's stock, valued at approximately $5,908,231. The trade was a 12.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,913 shares of company stock valued at $2,474,452 in the last quarter. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rambus

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise acquired a new position in Rambus in the 1st quarter worth $25,000. Tsfg LLC acquired a new position in shares of Rambus during the 1st quarter worth about $26,000. True Wealth Design LLC boosted its stake in shares of Rambus by 162.5% during the 2nd quarter. True Wealth Design LLC now owns 420 shares of the semiconductor company's stock worth $27,000 after buying an additional 260 shares during the last quarter. Bessemer Group Inc. boosted its stake in shares of Rambus by 105.8% during the 2nd quarter. Bessemer Group Inc. now owns 463 shares of the semiconductor company's stock worth $30,000 after buying an additional 238 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its stake in shares of Rambus by 1,386.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 639 shares of the semiconductor company's stock worth $41,000 after buying an additional 596 shares during the last quarter. 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.

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