Rambus (NASDAQ:RMBS) Downgraded to “Hold” Rating by Susquehanna

Rambus (NASDAQ:RMBS) was downgraded by Susquehanna from a “positive” rating to a “hold” rating in a research note issued to investors on Monday, MarketBeat reports. They currently have a $100.00 price objective on the semiconductor company’s stock. Susquehanna’s target price indicates a potential downside of 0.99% from the stock’s current price.

A number of other analysts also recently weighed in on RMBS. Arete raised shares of Rambus from a “neutral” rating to a “buy” rating and set a $91.00 price target for the company in a report on Thursday, August 28th. Jefferies Financial Group upped their target price on Rambus from $69.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Rambus in a report on Saturday, September 27th. Wall Street Zen downgraded Rambus from a “buy” rating to a “hold” rating in a research note on Sunday, August 10th. Finally, Evercore ISI increased their target price on shares of Rambus from $81.00 to $114.00 and gave the stock an “outperform” rating in a report on Tuesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $96.63.

Rambus Stock Performance

Shares of NASDAQ RMBS opened at $101.00 on Monday. Rambus has a 52 week low of $40.12 and a 52 week high of $109.15. The stock has a market capitalization of $10.87 billion, a P/E ratio of 47.64 and a beta of 1.46. The stock’s fifty day moving average is $83.48 and its 200 day moving average is $65.69.

Insider Buying and Selling at Rambus

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

Hedge Funds Weigh In On Rambus

A number of hedge funds have recently made changes to their positions in the stock. True Wealth Design LLC lifted its stake in shares of Rambus by 162.5% in the second quarter. True Wealth Design LLC now owns 420 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 260 shares during the period. Bessemer Group Inc. raised its holdings in 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 purchasing an additional 238 shares during the last quarter. Banque Cantonale Vaudoise acquired a new position in shares of Rambus in the 1st quarter worth approximately $25,000. Tsfg LLC bought a new stake in shares of Rambus in the 1st quarter valued at $26,000. Finally, Hantz Financial Services Inc. increased its position in shares of Rambus by 1,386.0% during the second 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 period. 88.54% of the stock is currently owned by institutional investors.

Rambus Company Profile

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.