Susquehanna Downgrades Rambus (NASDAQ:RMBS) to Neutral

Rambus (NASDAQ:RMBS) was downgraded by equities research analysts at Susquehanna from a “positive” rating to a “neutral” rating in a report released on Monday, MarketBeat.com reports. They currently have a $100.00 price objective on the semiconductor company’s stock. Susquehanna’s price target indicates a potential upside of 3.26% from the company’s previous close.

Several other brokerages also recently issued reports on RMBS. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Rambus in a research report on Saturday, September 27th. Wall Street Zen downgraded Rambus from a “buy” rating to a “hold” rating in a research report on Sunday, August 10th. Rosenblatt Securities raised their price target on Rambus from $90.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, September 17th. Evercore ISI lifted their target price on Rambus from $81.00 to $114.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 16th. Finally, Arete raised Rambus from a “neutral” rating to a “buy” rating and set a $91.00 target price on the stock in a research report on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $96.63.

Rambus Price Performance

Rambus stock opened at $96.84 on Monday. The company has a market capitalization of $10.42 billion, a price-to-earnings ratio of 45.68 and a beta of 1.46. Rambus has a one year low of $40.12 and a one year high of $109.15. The company’s fifty day moving average price is $83.95 and its two-hundred day moving average price is $65.91.

Insider Activity

In other news, Director Meera Rao sold 3,000 shares of Rambus stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $71.72, for a total value of $215,160.00. Following the completion of the transaction, the director owned 29,914 shares in the company, valued at approximately $2,145,432.08. The trade was a 9.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Desmond Lynch sold 9,074 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $91.70, for a total transaction of $832,085.80. Following the completion of the sale, the chief financial officer directly owned 64,430 shares of the company’s stock, valued at approximately $5,908,231. This represents a 12.34% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,913 shares of company stock worth $2,474,452. 1.00% of the stock is currently owned by insiders.

Institutional Trading of Rambus

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its holdings in shares of Rambus by 60.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,746,856 shares of the semiconductor company’s stock valued at $452,870,000 after purchasing an additional 3,297,728 shares in the last quarter. EdgePoint Investment Group Inc. grew its holdings in Rambus by 138.4% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 2,787,327 shares of the semiconductor company’s stock worth $178,445,000 after acquiring an additional 1,618,133 shares during the period. Geode Capital Management LLC raised its position in shares of Rambus by 1.3% during the 2nd quarter. Geode Capital Management LLC now owns 2,687,691 shares of the semiconductor company’s stock valued at $172,086,000 after acquiring an additional 35,744 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Rambus by 13.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,019,504 shares of the semiconductor company’s stock valued at $129,289,000 after acquiring an additional 235,253 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Rambus during the 2nd quarter valued at $126,268,000. 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.