Susquehanna Lowers Rambus (NASDAQ:RMBS) Price Target to $66.00

Rambus (NASDAQ:RMBS) had its price objective trimmed by Susquehanna from $75.00 to $66.00 in a research note issued to investors on Friday morning, Benzinga reports. The brokerage currently has a positive rating on the semiconductor company’s stock.

Separately, Jefferies Financial Group reiterated a buy rating and set a $75.00 price target (up from $72.00) on shares of Rambus in a research note on Monday, May 13th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Rambus presently has a consensus rating of Moderate Buy and an average price target of $77.75.

Rambus Stock Performance

Shares of NASDAQ:RMBS opened at $55.83 on Friday. The company has a 50-day simple moving average of $58.36 and a 200-day simple moving average of $60.06. Rambus has a one year low of $48.13 and a one year high of $76.38. The stock has a market capitalization of $6.02 billion, a price-to-earnings ratio of 17.07 and a beta of 1.20.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.09). Rambus had a return on equity of 16.99% and a net margin of 78.14%. The firm had revenue of $132.10 million for the quarter, compared to analyst estimates of $139.00 million. During the same quarter last year, the firm earned $0.36 earnings per share. The company’s revenue was up 10.3% compared to the same quarter last year. As a group, research analysts forecast that Rambus will post 1.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other Rambus news, Director Eric B. Stang sold 5,408 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $56.95, for a total transaction of $307,985.60. Following the transaction, the director now directly owns 32,422 shares in the company, valued at $1,846,432.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RMBS. Vanguard Group Inc. grew its position in shares of Rambus by 2.4% in the first quarter. Vanguard Group Inc. now owns 11,651,114 shares of the semiconductor company’s stock valued at $720,155,000 after purchasing an additional 275,160 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Rambus by 120.4% in the fourth quarter. Wellington Management Group LLP now owns 3,933,923 shares of the semiconductor company’s stock valued at $268,490,000 after purchasing an additional 2,149,396 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Rambus by 6.1% in the first quarter. Bank of New York Mellon Corp now owns 2,307,798 shares of the semiconductor company’s stock valued at $142,645,000 after purchasing an additional 132,939 shares during the last quarter. Hood River Capital Management LLC grew its position in shares of Rambus by 4.4% in the first quarter. Hood River Capital Management LLC now owns 2,048,572 shares of the semiconductor company’s stock valued at $126,622,000 after purchasing an additional 86,758 shares during the last quarter. Finally, Swedbank AB grew its position in shares of Rambus by 56.1% in the second quarter. Swedbank AB now owns 1,549,850 shares of the semiconductor company’s stock valued at $91,069,000 after purchasing an additional 556,850 shares during the last quarter. 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.