Rambus (NASDAQ:RMBS) Rating Lowered to Buy at Wall Street Zen

Rambus (NASDAQ:RMBS) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Saturday.

Several other equities analysts have also commented on the stock. Jefferies Financial Group upped their price target on shares of Rambus from $69.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Rosenblatt Securities increased their price objective on shares of Rambus from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Finally, Susquehanna increased their price objective on shares of Rambus from $70.00 to $75.00 and gave the stock a “positive” rating in a research report on Tuesday, July 29th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Rambus currently has an average rating of “Buy” and an average price target of $77.71.

Rambus Stock Performance

Shares of RMBS stock opened at $72.41 on Friday. Rambus has a one year low of $37.42 and a one year high of $76.07. The company has a 50 day moving average price of $62.58 and a 200 day moving average price of $57.77. The firm has a market capitalization of $7.79 billion, a price-to-earnings ratio of 34.16 and a beta of 1.28.

Insider Buying and Selling at Rambus

In other news, Director Steven Laub sold 3,653 shares of the company’s stock in a transaction on Monday, May 19th. The shares were sold at an average price of $55.56, for a total value of $202,960.68. Following the completion of the transaction, the director directly owned 10,904 shares in the company, valued at approximately $605,826.24. This represents a 25.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. 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. Banque Cantonale Vaudoise purchased a new position in shares of Rambus in the first quarter valued at $25,000. Tsfg LLC purchased a new position in shares of Rambus in the first quarter valued at $26,000. Orion Capital Management LLC purchased a new position in shares of Rambus in the fourth quarter valued at $37,000. Finally, McIlrath & Eck LLC purchased a new position in shares of Rambus in the first quarter valued at $42,000. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

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.