Rambus (NASDAQ:RMBS) Cut to “Neutral” at Susquehanna

Rambus (NASDAQ:RMBS) was downgraded by Susquehanna from a “positive” rating to a “neutral” rating in a note issued to investors on Monday, MarketBeat.com reports. They presently have a $100.00 price target on the semiconductor company’s stock. Susquehanna’s target price points to a potential downside of 0.99% from the company’s current price.

A number of other equities research analysts also recently weighed in on RMBS. Arete Research raised Rambus to a “strong-buy” rating in a report on Thursday, August 28th. Wall Street Zen downgraded Rambus from a “buy” rating to a “hold” rating in a research report on Sunday, August 10th. Evercore ISI upped their price target on shares of Rambus from $81.00 to $114.00 and gave the stock an “outperform” rating in a report on Tuesday, September 16th. Robert W. Baird lifted 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. Finally, Rosenblatt Securities upped their target price on Rambus from $90.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $96.63.

Rambus Trading Up 1.0%

Rambus stock opened at $101.00 on Monday. Rambus has a 12 month low of $40.12 and a 12 month high of $109.15. The stock’s 50 day moving average is $83.48 and its 200-day moving average is $65.69. The company has a market capitalization of $10.87 billion, a price-to-earnings ratio of 47.64 and a beta of 1.46.

Insider Transactions at Rambus

In related news, 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 value of $832,085.80. Following the completion of the transaction, the chief financial officer owned 64,430 shares in the company, valued at $5,908,231. This trade represents a 12.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Necip Sayiner sold 7,500 shares of Rambus stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $73.53, for a total transaction of $551,475.00. Following the sale, the director owned 38,324 shares in the company, valued at approximately $2,817,963.72. This represents a 16.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,913 shares of company stock valued at $2,474,452 over the last three months. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Rambus

A number of institutional investors have recently made changes to their positions in RMBS. True Wealth Design LLC raised its holdings in Rambus by 162.5% during the 2nd quarter. True Wealth Design LLC now owns 420 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 260 shares during the last quarter. Bessemer Group Inc. lifted its holdings in 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 buying an additional 238 shares during the period. Banque Cantonale Vaudoise bought a new stake in Rambus during the first quarter valued at $25,000. Tsfg LLC acquired a new stake in Rambus during the 1st quarter worth about $26,000. Finally, Hantz Financial Services Inc. raised its position in shares of Rambus by 1,386.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 639 shares of the semiconductor company’s stock worth $41,000 after acquiring an additional 596 shares in the last quarter. Institutional investors own 88.54% of the company’s stock.

Rambus Company Profile

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.