Rambus (NASDAQ:RMBS) CEO Sells $3,936,717.82 in Stock

Rambus, Inc. (NASDAQ:RMBS) CEO Luc Seraphin sold 39,914 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $98.63, for a total value of $3,936,717.82. Following the completion of the sale, the chief executive officer directly owned 331,070 shares in the company, valued at approximately $32,653,434.10. This represents a 10.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Rambus Price Performance

RMBS opened at $91.91 on Friday. The firm has a market cap of $9.91 billion, a PE ratio of 43.56 and a beta of 1.55. The stock has a 50-day moving average price of $102.51 and a 200-day moving average price of $96.99. Rambus, Inc. has a 1 year low of $40.12 and a 1 year high of $135.75.

Rambus (NASDAQ:RMBS) last released its quarterly earnings data on Monday, February 2nd. The semiconductor company reported $0.68 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.68. The business had revenue of $190.24 million during the quarter, compared to analyst estimates of $188.21 million. Rambus had a net margin of 32.57% and a return on equity of 17.69%. As a group, sell-side analysts anticipate that Rambus, Inc. will post 1.89 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on RMBS. Rosenblatt Securities reiterated a “buy” rating and set a $130.00 target price on shares of Rambus in a research note on Tuesday, February 3rd. Zacks Research raised Rambus to a “hold” rating in a research report on Monday, January 26th. Evercore reduced their price objective on Rambus from $126.00 to $119.00 and set an “outperform” rating for the company in a report on Tuesday, February 3rd. William Blair initiated coverage on shares of Rambus in a research note on Thursday, January 22nd. They set an “outperform” rating on the stock. Finally, Weiss Ratings raised shares of Rambus from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Rambus has an average rating of “Buy” and a consensus price target of $105.71.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of RMBS. NewEdge Advisors LLC increased its position in shares of Rambus by 22,321.4% during the 1st 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 last quarter. Empowered Funds LLC grew its position in Rambus by 34.1% during the first quarter. Empowered Funds LLC now owns 22,750 shares of the semiconductor company’s stock valued at $1,178,000 after buying an additional 5,783 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Rambus by 6.6% during the first 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 buying an additional 19,120 shares during the last quarter. Acadian Asset Management LLC bought a new position in Rambus in the first quarter worth approximately $218,000. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Rambus by 8.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,243 shares of the semiconductor company’s stock worth $272,000 after acquiring an additional 314 shares during the last quarter. 88.54% of the stock is owned by hedge funds and other institutional investors.

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.