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

Cfra Research downgraded shares of Rambus (NASDAQ:RMBS) from a hold rating to a moderate sell rating in a research note published on Monday morning,Zacks.com reports.

A number of other analysts have also issued reports on RMBS. Susquehanna set a $100.00 price target on Rambus and gave the stock a “neutral” rating in a research note on Monday, October 6th. Wells Fargo & Company raised their target price on shares of Rambus from $73.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. Rosenblatt Securities restated a “buy” rating and issued a $130.00 target price on shares of Rambus in a report on Tuesday, October 28th. Evercore ISI increased their price target on shares of Rambus from $114.00 to $126.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 28th. Finally, Jefferies Financial Group upgraded shares of Rambus to a “strong-buy” rating in a report on Tuesday, October 28th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Rambus presently has an average rating of “Buy” and a consensus price target of $108.14.

Rambus Stock Performance

Shares of NASDAQ RMBS opened at $90.61 on Monday. The firm has a market cap of $9.75 billion, a P/E ratio of 42.94 and a beta of 1.51. Rambus has a 1 year low of $40.12 and a 1 year high of $114.55. The firm’s 50 day moving average price is $98.85 and its 200 day moving average price is $83.05.

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

Insider Activity at Rambus

In related news, Director Eric B. Stang sold 4,000 shares of the stock in a transaction on Monday, November 10th. The stock was sold at an average price of $111.78, for a total value of $447,120.00. Following the completion of the sale, the director directly owned 20,394 shares in the company, valued at approximately $2,279,641.32. This represents a 16.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Meera Rao sold 653 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $101.99, for a total value 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 trade represents a 2.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 9,653 shares of company stock valued at $1,025,469. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Rambus

Large investors have recently modified their holdings of the stock. Steigerwald Gordon & Koch Inc. acquired a new position in Rambus during the 3rd quarter worth approximately $25,000. Abound Wealth Management purchased a new stake in shares of Rambus during the third quarter valued at approximately $28,000. True Wealth Design LLC raised its stake in shares of Rambus by 162.5% during the second quarter. True Wealth Design LLC now owns 420 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 260 shares during the period. IFP Advisors Inc lifted its position in shares of Rambus by 126.7% during the third quarter. IFP Advisors Inc now owns 442 shares of the semiconductor company’s stock worth $47,000 after purchasing an additional 247 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in shares of Rambus by 105.8% in the second quarter. Bessemer Group Inc. now owns 463 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 238 shares during the period. Institutional investors and hedge funds 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.