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

Rambus (NASDAQ:RMBS) had its price objective decreased by equities research analysts at Susquehanna from $75.00 to $66.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “positive” rating on the semiconductor company’s stock. Susquehanna’s price target would indicate a potential upside of 16.20% from the company’s previous close.

Separately, Jefferies Financial Group restated a “buy” rating and set a $75.00 price target (up from $72.00) on shares of Rambus in a research report on Monday, May 13th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.75.

Rambus Stock Down 4.4 %

RMBS stock opened at $56.80 on Friday. The stock has a market capitalization of $6.12 billion, a P/E ratio of 17.37 and a beta of 1.20. The firm has a 50-day simple moving average of $58.42 and a 200-day simple moving average of $60.27. Rambus has a 52 week low of $48.13 and a 52 week high of $76.38.

Rambus (NASDAQ:RMBS) last released its earnings results on Monday, April 29th. The semiconductor company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The business had revenue of $133.60 million during the quarter, compared to analysts’ expectations of $132.00 million. Rambus had a net margin of 78.14% and a return on equity of 16.99%. On average, analysts expect that Rambus will post 1.36 earnings per share for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Rambus

Institutional investors and hedge funds have recently bought and sold shares of the company. Rise Advisors LLC acquired a new position in Rambus in the 1st quarter valued at about $28,000. Blue Trust Inc. boosted its holdings in Rambus by 100.4% in the 4th quarter. Blue Trust Inc. now owns 447 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 224 shares during the last quarter. Fifth Third Bancorp boosted its holdings in Rambus by 65.8% in the 4th quarter. Fifth Third Bancorp now owns 504 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 200 shares during the last quarter. GAMMA Investing LLC acquired a new position in Rambus in the 4th quarter valued at about $66,000. Finally, Fidelis Capital Partners LLC acquired a new position in Rambus in the 1st quarter valued at about $90,000. 88.54% of the stock is currently owned by institutional investors and hedge funds.

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.