Rambus (NASDAQ:RMBS) Stock Bumped Down to “Hold” by Wall Street Zen

Wall Street Zen lowered shares of Rambus (NASDAQ:RMBS) from a buy rating to a hold rating in a research report released on Saturday,Wall Street Zen reports.

A number of other equities research analysts have also recently commented on RMBS. UBS Group set a $165.00 target price on shares of Rambus in a research note on Tuesday, October 27th. Glj Research set a $165.00 price target on shares of Rambus in a research report on Tuesday, July 28th. Rosenblatt Securities reissued a “buy” rating and issued a $165.00 price objective on shares of Rambus in a research note on Tuesday, October 27th. Weiss Ratings restated a “hold (c+)” rating on shares of Rambus in a research note on Wednesday, September 2nd. Finally, Benchmark reiterated a “buy” rating on shares of Rambus in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $147.00.

Rambus Stock Performance

Shares of RMBS stock traded down $2.74 on Friday, reaching $82.23. The stock had a trading volume of 787,879 shares, compared to its average volume of 1,960,973. The stock has a market cap of $8.81 billion, a P/E ratio of 33.84 and a beta of 1.93. The company has a 50 day simple moving average of $92.58 and a 200 day simple moving average of $106.39. Rambus has a 1 year low of $68.19 and a 1 year high of $174.10.

Rambus (NASDAQ:RMBS) last announced its earnings results on Monday, October 26th. The semiconductor company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.05. Rambus had a net margin of 33.40% and a return on equity of 19.43%. The business had revenue of $218.29 million during the quarter, compared to analysts’ expectations of $213.21 million. On average, equities research analysts anticipate that Rambus will post 2.64 earnings per share for the current fiscal year.

Institutional Trading of Rambus

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Rambus during the 2nd quarter valued at about $1,853,645,000. EdgePoint Investment Group Inc. raised its position in Rambus by 38.5% during the first quarter. EdgePoint Investment Group Inc. now owns 1,947,742 shares of the semiconductor company’s stock valued at $167,564,000 after purchasing an additional 541,056 shares during the period. Bank of America Corp DE bought a new stake in shares of Rambus in the 2nd quarter valued at approximately $161,774,000. Bank of New York Mellon Corp purchased a new stake in Rambus during the 2nd quarter valued at $109,940,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Rambus during the 2nd quarter valued at $105,820,000. Institutional investors own 88.54% of the company’s stock.

About Rambus

Rambus Inc. develops semiconductor technology used to move and protect data in electronic systems. Its business includes memory-interface chips and silicon intellectual property licensed to semiconductor manufacturers and other technology companies. The company’s products include memory interface components for advanced memory systems, such as registered clock drivers and data buffers, as well as security technologies for applications including cryptography and hardware-based protection. These solutions serve markets such as data centers, computing, and consumer electronics.