Rambus Inc. (NASDAQ:RMBS) CEO Sells $537,900.00 in Stock

Rambus Inc. (NASDAQ:RMBS) CEO Luc Seraphin sold 10,000 shares of Rambus stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $53.79, for a total value of $537,900.00. Following the completion of the sale, the chief executive officer now directly owns 316,931 shares in the company, valued at $17,047,718.49. This represents a 3.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Rambus Stock Down 0.2 %

Shares of Rambus stock opened at $56.72 on Friday. Rambus Inc. has a twelve month low of $37.43 and a twelve month high of $69.15. The stock has a market cap of $6.09 billion, a price-to-earnings ratio of 34.17 and a beta of 1.25. The company’s fifty day moving average is $59.56 and its 200 day moving average is $52.73.

Hedge Funds Weigh In On Rambus

Institutional investors and hedge funds have recently made changes to their positions in the stock. UMB Bank n.a. boosted its position in shares of Rambus by 554.9% during the 4th quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 455 shares in the last quarter. Orion Capital Management LLC acquired a new stake in shares of Rambus in the 4th quarter worth about $37,000. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Rambus by 927.5% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 709 shares of the semiconductor company’s stock worth $38,000 after acquiring an additional 640 shares during the last quarter. Quarry LP raised its holdings in shares of Rambus by 40.3% in the 3rd quarter. Quarry LP now owns 919 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 264 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in shares of Rambus by 379.1% in the 4th quarter. Farther Finance Advisors LLC now owns 1,126 shares of the semiconductor company’s stock worth $60,000 after acquiring an additional 891 shares during the last quarter. Institutional investors own 88.54% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. StockNews.com downgraded Rambus from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Wells Fargo & Company lifted their price target on Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Evercore ISI started coverage on Rambus in a report on Tuesday, February 4th. They set an “outperform” rating and a $71.00 price target for the company. Rosenblatt Securities lifted their price target on Rambus from $85.00 to $92.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Finally, Susquehanna lifted their price target on Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a report on Tuesday, February 4th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $76.71.

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.