Rambus Inc. (NASDAQ:RMBS) CEO Sells $920,250.00 in Stock

Rambus Inc. (NASDAQ:RMBS) CEO Luc Seraphin sold 15,000 shares of Rambus stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $61.35, for a total transaction of $920,250.00. Following the transaction, the chief executive officer now owns 268,321 shares in the company, valued at approximately $16,461,493.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Luc Seraphin also recently made the following trade(s):

• On Tuesday, April 2nd, Luc Seraphin sold 15,000 shares of Rambus stock. The shares were sold at an average price of $59.93, for a total transaction of $898,950.00.
• On Tuesday, March 26th, Luc Seraphin sold 15,000 shares of Rambus stock. The shares were sold at an average price of $62.69, for a total transaction of $940,350.00.
• On Tuesday, March 19th, Luc Seraphin sold 15,000 shares of Rambus stock. The shares were sold at an average price of $58.35, for a total transaction of $875,250.00.
• On Tuesday, March 12th, Luc Seraphin sold 15,000 shares of Rambus stock. The shares were sold at an average price of $62.69, for a total transaction of $940,350.00.
• On Tuesday, March 5th, Luc Seraphin sold 15,000 shares of Rambus stock. The stock was sold at an average price of $62.17, for a total transaction of $932,550.00.

Rambus Trading Down 3.3 %

Shares of RMBS stock traded down $2.00 during trading hours on Wednesday, reaching $59.49. 219,415 shares of the stock were exchanged, compared to its average volume of 1,592,447. Rambus Inc. has a 12-month low of $43.58 and a 12-month high of $76.38. The company’s 50-day moving average price is $60.72 and its 200-day moving average price is $62.41. The firm has a market capitalization of $6.46 billion, a price-to-earnings ratio of 20.50 and a beta of 1.16.

Rambus (NASDAQ:RMBS) last released its quarterly earnings results on Monday, February 5th. The semiconductor company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. Rambus had a net margin of 72.41% and a return on equity of 17.70%. The firm had revenue of $136.00 million during the quarter, compared to analysts’ expectations of $134.00 million. On average, sell-side analysts expect that Rambus Inc. will post 1.63 EPS for the current year.

Hedge Funds Weigh In On Rambus

Large investors have recently made changes to their positions in the company. Rise Advisors LLC bought a new position in Rambus in the 1st quarter worth about $28,000. Hollencrest Capital Management bought a new position in Rambus in the first quarter worth approximately $28,000. West Tower Group LLC increased its holdings in Rambus by 194.4% during the 4th quarter. West Tower Group LLC now owns 418 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 276 shares during the period. Blue Trust Inc. raised its position in Rambus by 100.4% during 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 in the last quarter. Finally, Altshuler Shaham Ltd purchased a new stake in shares of Rambus in the 4th quarter worth $33,000. 88.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Rosenblatt Securities restated a “buy” rating and issued a $85.00 target price on shares of Rambus in a report on Wednesday, March 13th. Wells Fargo & Company boosted their target price on shares of Rambus from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Rambus presently has an average rating of “Moderate Buy” and a consensus target price of $73.20.

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.