Insider Selling: Rambus Inc. (NASDAQ:RMBS) CEO Sells 5,530 Shares of Stock

Rambus Inc. (NASDAQ:RMBS) CEO Luc Seraphin sold 5,530 shares of the business’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $58.66, for a total transaction of $324,389.80. Following the completion of the sale, the chief executive officer now owns 262,791 shares in the company, valued at approximately $15,415,320.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, April 9th, Luc Seraphin sold 15,000 shares of Rambus stock. The stock was sold at an average price of $61.35, for a total transaction of $920,250.00.
• 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 stock was sold at an average price of $62.69, for a total value 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 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 value 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 value of $932,550.00.

Rambus Stock Down 3.2 %

Shares of Rambus stock opened at $54.68 on Friday. The stock’s fifty day moving average is $59.94 and its two-hundred day moving average is $62.56. Rambus Inc. has a 52 week low of $43.58 and a 52 week high of $76.38. The company has a market capitalization of $5.94 billion, a PE ratio of 18.23 and a beta of 1.16.

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

Analyst Ratings Changes

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

Hedge Funds Weigh In On Rambus

Hedge funds have recently added to or reduced their stakes in the stock. Coldstream Capital Management Inc. raised its stake in shares of Rambus by 3.9% during the fourth quarter. Coldstream Capital Management Inc. now owns 4,632 shares of the semiconductor company’s stock valued at $316,000 after acquiring an additional 173 shares in the last quarter. Fifth Third Bancorp raised its position in Rambus by 65.8% during 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 in the last quarter. State Board of Administration of Florida Retirement System raised its position in Rambus by 0.7% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 31,193 shares of the semiconductor company’s stock valued at $1,740,000 after purchasing an additional 220 shares in the last quarter. Metropolitan Life Insurance Co NY lifted its holdings in shares of Rambus by 3.4% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 6,749 shares of the semiconductor company’s stock worth $242,000 after buying an additional 221 shares during the period. Finally, Blue Trust Inc. grew its position in shares of Rambus by 100.4% during the 4th quarter. Blue Trust Inc. now owns 447 shares of the semiconductor company’s stock worth $31,000 after buying an additional 224 shares in the last quarter. 88.54% of the stock is currently owned by institutional investors.

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.