Rambus (NASDAQ:RMBS) Shares Down 7.3% on Insider Selling
by Scott Moore · The Cerbat GemShares of Rambus, Inc. (NASDAQ:RMBS – Get Free Report) fell 7.3% on Thursday following insider selling activity. The stock traded as low as $158.06 and last traded at $158.1810. 291,639 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 2,439,874 shares. The stock had previously closed at $170.66.
Specifically, Director Emiko Higashi sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $160.50, for a total transaction of $1,605,000.00. Following the completion of the transaction, the director directly owned 49,519 shares of the company’s stock, valued at approximately $7,947,799.50. This trade represents a 16.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Necip Sayiner sold 5,000 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $170.15, for a total transaction of $850,750.00. Following the completion of the transaction, the director directly owned 18,223 shares of the company’s stock, valued at $3,100,643.45. This trade represents a 21.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In other news, Director Eric B. Stang sold 5,000 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $146.00, for a total value of $730,000.00. Following the completion of the transaction, the director directly owned 19,218 shares of the company’s stock, valued at approximately $2,805,828. This represents a 20.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Analysts Set New Price Targets
A number of research analysts have issued reports on the company. Jefferies Financial Group lifted their price objective on Rambus from $120.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Weiss Ratings lowered shares of Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, March 10th. Evercore reaffirmed an “outperform” rating and set a $172.00 price objective on shares of Rambus in a report on Tuesday, April 28th. Wells Fargo & Company boosted their target price on Rambus from $115.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. Finally, Robert W. Baird cut Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price target for the company. in a report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $130.43.
Get Our Latest Analysis on Rambus
Rambus Stock Performance
The stock has a 50-day simple moving average of $122.66 and a 200 day simple moving average of $107.20. The stock has a market capitalization of $17.31 billion, a P/E ratio of 76.47 and a beta of 1.84.
Rambus (NASDAQ:RMBS – Get Free Report) last issued its quarterly earnings results on Monday, April 27th. The semiconductor company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.02. The business had revenue of $180.19 million for the quarter, compared to analyst estimates of $179.94 million. Rambus had a return on equity of 17.41% and a net margin of 31.90%. Equities analysts predict that Rambus, Inc. will post 2.44 earnings per share for the current year.
Institutional Investors Weigh In On Rambus
A number of institutional investors and hedge funds have recently modified their holdings of the business. Acumen Wealth Advisors LLC bought a new position in Rambus during the fourth quarter worth about $25,000. Torren Management LLC acquired a new stake in shares of Rambus in the 4th quarter valued at approximately $26,000. Spire Wealth Management boosted its stake in Rambus by 199.0% during the 4th quarter. Spire Wealth Management now owns 302 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 201 shares during the last quarter. University of Texas Texas AM Investment Management Co. acquired a new position in Rambus during the fourth quarter valued at approximately $28,000. Finally, IFP Advisors Inc increased its stake in Rambus by 126.7% in the third quarter. IFP Advisors Inc now owns 442 shares of the semiconductor company’s stock valued at $47,000 after purchasing an additional 247 shares in the last quarter. 88.54% of the stock is owned by 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.