Rambus (NASDAQ:RMBS) Downgraded to Moderate Sell Rating by Cfra Research

Rambus (NASDAQ:RMBS) was downgraded by investment analysts at Cfra Research from a “hold” rating to a “moderate sell” rating in a report released on Monday,Zacks.com reports.

Other equities research analysts have also issued research reports about the company. Susquehanna set a $100.00 target price on Rambus and gave the stock a “neutral” rating in a research report on Monday, October 6th. Jefferies Financial Group raised shares of Rambus to a “strong-buy” rating in a report on Tuesday, October 28th. Arete Research upgraded shares of Rambus from a “neutral” rating to a “buy” rating and set a $91.00 target price for the company in a report on Thursday, August 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rambus in a research report on Monday. Finally, Wells Fargo & Company boosted their price target on shares of Rambus from $73.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $108.14.

Rambus Trading Down 4.3%

Shares of RMBS opened at $90.61 on Monday. The firm has a market capitalization of $9.75 billion, a price-to-earnings ratio of 42.94 and a beta of 1.51. The firm’s fifty day simple moving average is $98.85 and its 200-day simple moving average is $83.05. Rambus has a twelve month low of $40.12 and a twelve month high of $114.55.

Rambus (NASDAQ:RMBS) last posted its earnings results on Monday, October 27th. The semiconductor company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.18). Rambus had a net margin of 33.72% and a return on equity of 17.73%. The business had revenue of $178.51 million during the quarter, compared to analysts’ expectations of $175.60 million. During the same period last year, the company earned $0.45 EPS. The business’s quarterly revenue was up 22.7% compared to the same quarter last year. On average, analysts predict that Rambus will post 1.89 earnings per share for the current fiscal year.

Insider Transactions at Rambus

In other Rambus news, Director Eric B. Stang sold 5,000 shares of Rambus stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $102.35, for a total value of $511,750.00. Following the transaction, the director directly owned 24,394 shares in the company, valued at approximately $2,496,725.90. This trade represents a 17.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Meera Rao sold 653 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $101.99, for a total transaction of $66,599.47. Following the completion of the transaction, the director directly owned 29,261 shares in the company, valued at $2,984,329.39. This represents a 2.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 9,653 shares of company stock worth $1,025,469. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Nordea Investment Management AB raised its holdings in shares of Rambus by 1,216.0% in the 2nd quarter. Nordea Investment Management AB now owns 69,116 shares of the semiconductor company’s stock worth $4,381,000 after purchasing an additional 63,864 shares during the period. Oak Grove Capital LLC acquired a new stake in Rambus during the 2nd quarter worth approximately $519,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Rambus by 10.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 182,940 shares of the semiconductor company’s stock valued at $9,472,000 after buying an additional 17,282 shares during the period. First Citizens Bank & Trust Co. lifted its position in Rambus by 250.9% during the second quarter. First Citizens Bank & Trust Co. now owns 13,591 shares of the semiconductor company’s stock valued at $870,000 after buying an additional 9,718 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its stake in Rambus by 5.1% during the second quarter. Neuberger Berman Group LLC now owns 1,348,038 shares of the semiconductor company’s stock worth $86,300,000 after buying an additional 65,870 shares during the period. 88.54% of the stock is currently 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.