Rambus (NASDAQ:RMBS) Shares Down 5.2% – What’s Next?

Shares of Rambus, Inc. (NASDAQ:RMBS) traded down 5.2% on Friday . The company traded as low as $115.98 and last traded at $118.3070. 604,819 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 2,153,190 shares. The stock had previously closed at $124.77.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Jefferies Financial Group upgraded shares of Rambus to a “strong-buy” rating in a research note on Tuesday, October 28th. Weiss Ratings downgraded Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 12th. Rosenblatt Securities reiterated a “buy” rating and issued a $130.00 price objective on shares of Rambus in a research note on Tuesday, October 28th. Cfra Research lowered shares of Rambus from a “hold” rating to a “moderate sell” rating in a research note on Monday, December 15th. Finally, William Blair began coverage on shares of Rambus in a report on Thursday. They set an “outperform” rating for the company. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Rambus presently has a consensus rating of “Buy” and a consensus price target of $108.14.

Rambus Trading Down 8.0%

The stock has a market capitalization of $12.36 billion, a price-to-earnings ratio of 54.27 and a beta of 1.51. The company’s 50 day moving average is $97.33 and its 200 day moving average is $89.79.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings data on Monday, October 27th. The semiconductor company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.18). Rambus had a return on equity of 17.73% and a net margin of 33.72%.The firm had revenue of $178.51 million for the quarter, compared to analysts’ expectations of $175.60 million. During the same period in the previous year, the business posted $0.45 EPS. The business’s revenue for the quarter was up 22.7% compared to the same quarter last year. Analysts anticipate that Rambus, Inc. will post 1.89 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Eric B. Stang sold 4,000 shares of the stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $111.78, for a total value of $447,120.00. Following the completion of the sale, the director directly owned 20,394 shares of the company’s stock, valued at approximately $2,279,641.32. This represents a 16.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of Rambus

Institutional investors and hedge funds have recently bought and sold shares of the business. NewEdge Advisors LLC increased its stake in Rambus by 22,321.4% in the first quarter. NewEdge Advisors LLC now owns 9,417 shares of the semiconductor company’s stock valued at $488,000 after purchasing an additional 9,375 shares during the period. Empowered Funds LLC grew its holdings in shares of Rambus by 34.1% during the first quarter. Empowered Funds LLC now owns 22,750 shares of the semiconductor company’s stock worth $1,178,000 after buying an additional 5,783 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Rambus by 6.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 309,512 shares of the semiconductor company’s stock valued at $16,025,000 after acquiring an additional 19,120 shares during the period. Acadian Asset Management LLC purchased a new stake in Rambus during the 1st quarter valued at approximately $218,000. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Rambus by 32.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 9,176 shares of the semiconductor company’s stock worth $605,000 after acquiring an additional 2,264 shares during the period. Hedge funds and other institutional investors own 88.54% of the company’s stock.

About Rambus

Rambus Inc is a technology licensing company specializing in semiconductor and system-level interface solutions. Founded in 1990 by Stanford University researchers Mike Farmwald and Mark Horowitz, Rambus established its headquarters in Sunnyvale, California. The company initially gained prominence by developing high-speed DRAM interface technology and securing a broad patent portfolio covering memory architecture, data signaling and power management innovations.

Today, Rambus licenses its proprietary intellectual property (IP) to semiconductor companies, original equipment manufacturers (OEMs) and system integrators worldwide.