Insider Selling: Rambus Inc. (NASDAQ:RMBS) CEO Sells 15,000 Shares of Stock

Rambus Inc. (NASDAQ:RMBS) CEO Luc Seraphin sold 15,000 shares of the stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $62.69, for a total value of $940,350.00. Following the completion of the transaction, the chief executive officer now directly owns 259,755 shares in the company, valued at approximately $16,284,040.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Tuesday, March 19th, Luc Seraphin sold 15,000 shares of Rambus stock. The stock was sold at an average price of $58.35, for a total value 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 shares were sold at an average price of $62.17, for a total transaction of $932,550.00.

Rambus Price Performance

NASDAQ RMBS opened at $63.10 on Thursday. Rambus Inc. has a 12 month low of $43.19 and a 12 month high of $76.38. The company’s fifty day moving average price is $62.64 and its two-hundred day moving average price is $62.12. The company has a market capitalization of $6.85 billion, a price-to-earnings ratio of 21.03 and a beta of 1.16.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings data on Monday, February 5th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.03. Rambus had a return on equity of 17.70% and a net margin of 72.41%. The firm had revenue of $136.00 million for the quarter, compared to analysts’ expectations of $134.00 million. As a group, analysts anticipate that Rambus Inc. will post 1.63 EPS for the current year.

Analyst Upgrades and Downgrades

RMBS has been the topic of a number of analyst reports. Rosenblatt Securities restated a “buy” rating and set a $85.00 target price on shares of Rambus in a research report on Wednesday, March 13th. Wells Fargo & Company boosted their target price on 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $73.20.

Institutional Investors Weigh In On Rambus

Several institutional investors and hedge funds have recently bought and sold shares of the business. West Tower Group LLC boosted its stake in Rambus by 194.4% during the 4th quarter. West Tower Group LLC now owns 418 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 276 shares during the period. Blue Trust Inc. lifted its stake in shares of Rambus by 100.4% in the 4th quarter. Blue Trust Inc. now owns 447 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 224 shares during the period. Fifth Third Bancorp boosted its holdings in shares of Rambus by 65.8% in the fourth quarter. Fifth Third Bancorp now owns 504 shares of the semiconductor company’s stock valued at $34,000 after acquiring an additional 200 shares in the last quarter. Hollencrest Capital Management bought a new stake in Rambus during the first quarter worth approximately $28,000. Finally, Lazard Asset Management LLC bought a new position in Rambus during the 2nd quarter valued at $40,000. Institutional investors and hedge funds own 88.54% of the company’s stock.

About Rambus

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.