Rambus (NASDAQ:RMBS) Rating Lowered to Hold at StockNews.com

StockNews.com downgraded shares of Rambus (NASDAQ:RMBS – Get Rating) from a buy rating to a hold rating in a report released on Wednesday.

A number of other research firms also recently weighed in on RMBS. Susquehanna Bancshares reissued a buy rating and set a $33.00 target price on shares of Rambus in a research report on Tuesday, May 3rd. Zacks Investment Research downgraded shares of Rambus from a buy rating to a hold rating in a research report on Wednesday, April 13th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Rambus from $30.00 to $32.00 in a research report on Tuesday, May 3rd. Susquehanna reissued a buy rating and set a $33.00 target price on shares of Rambus in a research report on Tuesday, May 3rd. Finally, TheStreet downgraded shares of Rambus from a b- rating to a c rating in a research report on Monday, May 2nd. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Buy and a consensus target price of $31.14.

Rambus stock opened at $23.66 on Wednesday. The business has a 50 day moving average of $27.85 and a 200-day moving average of $27.01. Rambus has a 1 year low of $17.95 and a 1 year high of $33.75. The company has a market capitalization of $2.61 billion, a P/E ratio of -56.33 and a beta of 1.16.

Rambus (NASDAQ:RMBS – Get Rating) last released its quarterly earnings data on Monday, February 7th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.03. The company had revenue of $91.78 million during the quarter, compared to the consensus estimate of $123.01 million. Rambus had a positive return on equity of 17.27% and a negative net margin of 12.68%. The firm’s revenue was up 48.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.24 earnings per share. As a group, equities research analysts predict that Rambus will post 1.34 EPS for the current fiscal year.

In other news, CEO Luc Seraphin sold 8,313 shares of the firm’s stock in a transaction that occurred on Monday, April 25th. The shares were sold at an average price of $25.30, for a total transaction of $210,318.90. Following the completion of the sale, the chief executive officer now owns 240,807 shares of the company’s stock, valued at approximately $6,092,417.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP John Shinn sold 10,073 shares of the stock in a transaction on Tuesday, February 15th. The stock was sold at an average price of $26.81, for a total value of $270,057.13. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 175,560 shares of company stock valued at $4,875,798. Insiders own 1.53% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the stock. HighTower Advisors LLC lifted its holdings in shares of Rambus by 3.1% in the 1st quarter. HighTower Advisors LLC now owns 185,929 shares of the semiconductor company’s stock worth $5,929,000 after purchasing an additional 5,527 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Rambus by 78.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 16,230 shares of the semiconductor company’s stock worth $518,000 after purchasing an additional 7,142 shares in the last quarter. American Century Companies Inc. bought a new position in shares of Rambus in the 1st quarter worth $230,000. State of Tennessee Treasury Department lifted its holdings in shares of Rambus by 5.6% in the 1st quarter. State of Tennessee Treasury Department now owns 87,734 shares of the semiconductor company’s stock worth $2,798,000 after purchasing an additional 4,653 shares in the last quarter. Finally, WINTON GROUP Ltd lifted its stake in Rambus by 91.2% during the 1st quarter. WINTON GROUP Ltd now owns 30,479 shares of the semiconductor company’s stock valued at $972,000 after acquiring an additional 14,536 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

About Rambus (Get Rating)

Rambus Inc provides semiconductor products in the United States, Taiwan, South Korea, Japan, Europe, Canada, Singapore, China, and internationally. The company offers DDR memory interface chips, including DDR5, DDR4 and DDR3 memory interface chips to module manufacturers and OEMs; silicon IP comprising, interface and security IP solutions that move and protect data in advanced applications; and physical interface and digital controller IP to offer industry-leading, integrated memory and interconnect subsystems.

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