Rambus (NASDAQ:RMBS) Stock Price Down 6% – Here’s What Happened

Rambus, Inc. (NASDAQ:RMBS)’s share price was down 6% during trading on Wednesday . The company traded as low as $91.39 and last traded at $91.2150. Approximately 679,796 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 1,521,678 shares. The stock had previously closed at $97.00.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Susquehanna set a $100.00 price target on Rambus and gave the stock a “neutral” rating in a report on Monday, October 6th. Jefferies Financial Group upgraded Rambus to a “strong-buy” rating in a research note on Tuesday, October 28th. Wells Fargo & Company upped their price target on Rambus from $73.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Rambus in a report on Monday, December 29th. Finally, Robert W. Baird boosted their price objective on shares of Rambus from $90.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, September 15th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $108.14.

Rambus Price Performance

The stock has a market cap of $9.85 billion, a price-to-earnings ratio of 43.19 and a beta of 1.51. The company’s 50 day moving average is $97.64 and its 200 day moving average is $86.76.

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

Insider Transactions at Rambus

In other Rambus news, Director Eric B. Stang sold 5,000 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $102.35, for a total value of $511,750.00. Following the sale, the director owned 24,394 shares of the company’s stock, valued at $2,496,725.90. This represents a 17.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

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

Rambus Company Profile

Rambus Inc is a technology licensing company specializing in semiconductor and system-level interface solutions. Founded in 1990 by Stanford University researchers Mike Farmwald and Mark Horowitz, Rambus established its headquarters in Sunnyvale, California. The company initially gained prominence by developing high-speed DRAM interface technology and securing a broad patent portfolio covering memory architecture, data signaling and power management innovations.

Today, Rambus licenses its proprietary intellectual property (IP) to semiconductor companies, original equipment manufacturers (OEMs) and system integrators worldwide.