Insider Selling: Rambus Inc. (NASDAQ:RMBS) CEO Sells 10,000 Shares of Stock

by · The Markets Daily

Rambus Inc. (NASDAQ:RMBS – Get Free Report) CEO Luc Seraphin sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $53.79, for a total transaction of $537,900.00. Following the completion of the transaction, the chief executive officer now owns 316,931 shares of the company’s stock, valued at $17,047,718.49. This trade represents a 3.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Rambus Stock Performance

RMBS traded up $2.63 on Wednesday, reaching $56.96. The company had a trading volume of 845,458 shares, compared to its average volume of 1,276,190. Rambus Inc. has a fifty-two week low of $37.43 and a fifty-two week high of $69.15. The stock has a market cap of $6.12 billion, a P/E ratio of 34.31 and a beta of 1.25. The company’s fifty day moving average is $59.56 and its 200 day moving average is $52.59.

Analyst Ratings Changes

Several research analysts have recently weighed in on RMBS shares. StockNews.com cut shares of Rambus from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Robert W. Baird set a $90.00 price objective on shares of Rambus in a research note on Monday, February 3rd. Baird R W raised Rambus to a “strong-buy” rating in a research report on Monday, November 25th. Wells Fargo & Company increased their price target on Rambus from $62.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Finally, Susquehanna boosted their price target on Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a research report on Tuesday, February 4th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Rambus presently has an average rating of “Buy” and an average price target of $76.71.

Get Our Latest Report on Rambus

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Rambus by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 12,594,979 shares of the semiconductor company’s stock valued at $665,771,000 after buying an additional 31,645 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Rambus by 442.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,449,128 shares of the semiconductor company’s stock valued at $288,042,000 after buying an additional 4,445,146 shares during the last quarter. Invesco Ltd. grew its stake in Rambus by 72.1% in the 4th quarter. Invesco Ltd. now owns 4,999,748 shares of the semiconductor company’s stock valued at $264,287,000 after buying an additional 2,093,953 shares during the last quarter. State Street Corp grew its stake in Rambus by 3.5% in the 3rd quarter. State Street Corp now owns 4,819,125 shares of the semiconductor company’s stock valued at $203,463,000 after buying an additional 164,830 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Rambus by 1.7% in the 4th quarter. JPMorgan Chase & Co. now owns 4,184,370 shares of the semiconductor company’s stock valued at $221,186,000 after purchasing an additional 68,975 shares during the period. Institutional investors and hedge funds own 88.54% of the company’s stock.

About Rambus

(Get Free Report)

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.

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