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

Rambus (NASDAQ:RMBS) had its price target lowered by Susquehanna from $75.00 to $66.00 in a report issued on Friday, Benzinga reports. The firm currently has a positive rating on the semiconductor company’s stock.

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

Rambus Price Performance

Shares of NASDAQ:RMBS opened at $59.00 on Friday. The stock has a market capitalization of $6.36 billion, a P/E ratio of 18.04 and a beta of 1.20. The business has a 50-day moving average of $58.44 and a two-hundred day moving average of $60.22. Rambus has a fifty-two week low of $48.13 and a fifty-two week high of $76.38.

Rambus (NASDAQ:RMBS) last announced its earnings results on Monday, April 29th. The semiconductor company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. The firm had revenue of $133.60 million for the quarter, compared to the consensus estimate of $132.00 million. Rambus had a net margin of 78.14% and a return on equity of 16.99%. As a group, research analysts expect that Rambus will post 1.36 EPS for the current fiscal year.

Insider Activity

In other Rambus news, Director Eric B. Stang sold 5,408 shares of Rambus stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $56.95, for a total transaction of $307,985.60. Following the sale, the director now directly owns 32,422 shares of the company’s stock, valued at $1,846,432.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Rambus

A number of large investors have recently bought and sold shares of the business. Rise Advisors LLC acquired a new position in Rambus in the first quarter worth $28,000. Blue Trust Inc. lifted its position in Rambus by 100.4% during the 4th quarter. Blue Trust Inc. now owns 447 shares of the semiconductor company’s stock worth $31,000 after buying an additional 224 shares in the last quarter. Fifth Third Bancorp grew its holdings in Rambus by 65.8% during the 4th quarter. Fifth Third Bancorp now owns 504 shares of the semiconductor company’s stock worth $34,000 after acquiring an additional 200 shares during the last quarter. GAMMA Investing LLC bought a new position in shares of Rambus in the fourth quarter worth about $66,000. Finally, Fidelis Capital Partners LLC acquired a new position in shares of Rambus during the first quarter worth approximately $90,000. 88.54% of the stock is currently owned by institutional investors.

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.