Rambus Inc. (NASDAQ:RMBS) Director Meera Rao Sells 5,408 Shares

Rambus Inc. (NASDAQ:RMBS) Director Meera Rao sold 5,408 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $58.22, for a total value of $314,853.76. Following the transaction, the director now directly owns 29,090 shares in the company, valued at approximately $1,693,619.80. This represents a 15.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Rambus Stock Performance

Rambus stock opened at $57.41 on Friday. The stock has a 50-day moving average of $50.79 and a two-hundred day moving average of $50.45. The stock has a market cap of $6.12 billion, a PE ratio of 35.66 and a beta of 1.22. Rambus Inc. has a one year low of $37.42 and a one year high of $76.38.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Quarry LP acquired a new stake in Rambus in the second quarter valued at approximately $38,000. Fifth Third Bancorp lifted its position in shares of Rambus by 68.7% in the second quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 296 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Rambus by 240.6% in the second quarter. Blue Trust Inc. now owns 1,141 shares of the semiconductor company’s stock valued at $71,000 after acquiring an additional 806 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Rambus in the second quarter valued at approximately $87,000. Finally, GAMMA Investing LLC lifted its position in Rambus by 207.1% during the third quarter. GAMMA Investing LLC now owns 2,623 shares of the semiconductor company’s stock worth $111,000 after buying an additional 1,769 shares in the last quarter. 88.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on RMBS shares. Wells Fargo & Company started coverage on Rambus in a research report on Wednesday, November 6th. They issued an “overweight” rating and a $62.00 price objective on the stock. Robert W. Baird started coverage on Rambus in a research report on Monday, November 25th. They issued an “outperform” rating and a $90.00 price objective on the stock. Baird R W raised Rambus to a “strong-buy” rating in a research report on Monday, November 25th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Rambus in a research report on Tuesday, October 29th. Finally, Loop Capital assumed coverage on Rambus in a research report on Monday, November 11th. They set a “buy” rating and a $70.00 price target on the stock. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $74.67.

Rambus Company Profile

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.