Rambus (NASDAQ:RMBS) Downgraded by StockNews.com to Hold

StockNews.com cut shares of Rambus (NASDAQ:RMBS - Free Report) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.

Other equities analysts have also issued reports about the stock. Loop Capital began coverage on shares of Rambus in a report on Monday, November 11th. They issued a "buy" rating and a $70.00 target price on the stock. Robert W. Baird set a $90.00 target price on shares of Rambus in a report on Monday, February 3rd. Evercore ISI began coverage on shares of Rambus in a research note on Tuesday, February 4th. They issued an "outperform" rating and a $71.00 price target on the stock. Baird R W upgraded shares of Rambus to a "strong-buy" rating in a research note on Monday, November 25th. Finally, Wells Fargo & Company raised their price target on shares of Rambus from $62.00 to $73.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $76.71.

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Rambus Trading Up 4.4 %

RMBS stock traded up $2.30 during mid-day trading on Wednesday, hitting $54.88. The stock had a trading volume of 1,003,676 shares, compared to its average volume of 1,006,338. Rambus has a 52 week low of $37.42 and a 52 week high of $69.15. The firm has a market capitalization of $5.86 billion, a P/E ratio of 33.06 and a beta of 1.25. The firm has a fifty day simple moving average of $59.77 and a 200 day simple moving average of $52.16.

Insider Buying and Selling

In related news, COO Xianzhi Sean Fan sold 52,327 shares of Rambus stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $68.02, for a total transaction of $3,559,282.54. Following the sale, the chief operating officer now directly owns 93,841 shares in the company, valued at $6,383,064.82. This trade represents a 35.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Meera Rao sold 5,408 shares of Rambus stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $58.22, for a total transaction of $314,853.76. Following the sale, the director now owns 29,090 shares in the company, valued at approximately $1,693,619.80. This represents a 15.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 62,360 shares of company stock worth $4,182,809 in the last ninety days. Company insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On Rambus

Hedge funds have recently added to or reduced their stakes in the business. Lindbrook Capital LLC lifted its position in shares of Rambus by 12.3% in the 4th quarter. Lindbrook Capital LLC now owns 1,513 shares of the semiconductor company's stock worth $80,000 after purchasing an additional 166 shares during the period. Mariner LLC lifted its position in shares of Rambus by 1.4% in the 4th quarter. Mariner LLC now owns 12,473 shares of the semiconductor company's stock worth $659,000 after purchasing an additional 167 shares during the period. Hillsdale Investment Management Inc. lifted its position in shares of Rambus by 0.4% in the 4th quarter. Hillsdale Investment Management Inc. now owns 45,400 shares of the semiconductor company's stock worth $2,400,000 after purchasing an additional 200 shares during the period. Arizona State Retirement System lifted its position in shares of Rambus by 0.7% in the 4th quarter. Arizona State Retirement System now owns 31,237 shares of the semiconductor company's stock worth $1,651,000 after purchasing an additional 202 shares during the period. Finally, Nations Financial Group Inc. IA ADV lifted its position in shares of Rambus by 2.8% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 8,925 shares of the semiconductor company's stock worth $472,000 after purchasing an additional 246 shares during the period. 88.54% of the stock is currently owned by institutional investors and hedge funds.

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.