Zacks Investment Research downgraded shares of Rambus Inc. (NASDAQ:RMBS) from a hold rating to a sell rating in a research note released on Wednesday.

According to Zacks, “Rambus, Inc. designs, develops, licenses and markets high-speed chip-to-chip interface technology to enhance the performance and cost-effectiveness of computers, consumer electronics and other electronic systems. The company licenses semiconductor companies to manufacture and sell memory and logic integrated circuits incorporating Rambus interface technology and markets its solution to systems companies to encourage them to design Rambus interface technology into their products. “

A number of other analysts also recently issued reports on RMBS. JPMorgan Chase & Co. reissued a hold rating and issued a $12.50 price objective on shares of Rambus in a report on Tuesday, July 5th. Citigroup Inc. boosted their price objective on shares of Rambus from $14.00 to $15.00 and gave the company a buy rating in a report on Wednesday, July 20th. Benchmark Co. restated a positive rating on shares of Rambus in a research report on Tuesday, October 4th. Jefferies Group restated a hold rating and issued a $12.50 target price on shares of Rambus in a research report on Wednesday, July 6th. Finally, Roth Capital began coverage on shares of Rambus in a research report on Wednesday, August 31st. They issued a buy rating and a $16.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $14.11.

Shares of Rambus (NASDAQ:RMBS) opened at 11.84 on Wednesday. The stock’s 50 day moving average is $13.01 and its 200 day moving average is $12.71. The company has a market capitalization of $1.30 billion, a PE ratio of 6.73 and a beta of 1.32. Rambus has a 1-year low of $9.86 and a 1-year high of $14.50.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings data on Monday, July 18th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.02. The firm earned $76.50 million during the quarter, compared to the consensus estimate of $74.44 million. Rambus had a net margin of 66.99% and a return on equity of 10.40%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.13 EPS. On average, equities research analysts anticipate that Rambus will post $0.56 EPS for the current fiscal year.

In related news, SVP Satish Rishi sold 2,000 shares of the stock in a transaction on Tuesday, July 19th. The shares were sold at an average price of $13.49, for a total transaction of $26,980.00. Following the transaction, the senior vice president now directly owns 251,838 shares of the company’s stock, valued at $3,397,294.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Penny Herscher sold 6,809 shares of the stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $12.43, for a total transaction of $84,635.87. Following the transaction, the director now directly owns 12,874 shares in the company, valued at $160,023.82. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Princeton Alpha Management LP acquired a new position in Rambus during the second quarter worth $130,000. Jefferies Group LLC acquired a new position in Rambus during the second quarter worth $135,000. Advisors Capital Management LLC acquired a new position in Rambus during the second quarter worth $137,000. Sei Investments Co. raised its position in Rambus by 20.4% in the second quarter. Sei Investments Co. now owns 13,310 shares of the company’s stock worth $160,000 after buying an additional 2,255 shares during the period. Finally, PineBridge Investments L.P. raised its position in Rambus by 4.3% in the second quarter. PineBridge Investments L.P. now owns 13,960 shares of the company’s stock worth $168,000 after buying an additional 580 shares during the period. 74.55% of the stock is currently owned by institutional investors and hedge funds.

Rambus Company Profile

Rambus Inc produces semiconductor and Internet protocol (IP) products, spanning memory and interfaces to security, sensors and lighting. The Company’s products are integrated into devices and systems, powering and securing diverse applications, including big data and media platforms. Its segments include Memory and Interfaces Division (MID) and Cryptography Research Division (CRD).

5 Day Chart for NASDAQ:RMBS

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