Necip Sayiner Sells 4,625 Shares of Rambus Inc. (NASDAQ:RMBS) Stock

Rambus Inc. (NASDAQ:RMBS) Director Necip Sayiner sold 4,625 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $66.74, for a total value of $308,672.50. Following the completion of the transaction, the director now owns 42,000 shares of the company’s stock, valued at approximately $2,803,080. This represents a 9.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Rambus Trading Down 2.1 %

Shares of NASDAQ:RMBS opened at $64.95 on Friday. The stock’s 50-day moving average price is $59.58 and its two-hundred day moving average price is $51.17. Rambus Inc. has a 12-month low of $37.42 and a 12-month high of $69.15. The firm has a market cap of $6.92 billion, a price-to-earnings ratio of 39.13 and a beta of 1.26.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RMBS. StockNews.com upgraded Rambus from a “hold” rating to a “buy” rating in a research report on Wednesday, February 5th. Baird R W upgraded Rambus to a “strong-buy” rating in a research report on Monday, November 25th. Loop Capital began coverage on Rambus in a research report on Monday, November 11th. They set a “buy” rating and a $70.00 price objective for the company. Robert W. Baird began coverage on Rambus in a research report on Monday, November 25th. They set an “outperform” rating and a $90.00 price objective for the company. Finally, Evercore ISI began coverage on Rambus in a research report on Tuesday, February 4th. They set an “outperform” rating and a $71.00 price objective for the company. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Rambus has a consensus rating of “Buy” and a consensus price target of $77.29.

Hedge Funds Weigh In On Rambus

Several hedge funds and other institutional investors have recently modified their holdings of RMBS. CWM LLC lifted its stake in shares of Rambus by 31.9% in the 3rd quarter. CWM LLC now owns 7,487 shares of the semiconductor company’s stock valued at $316,000 after purchasing an additional 1,811 shares in the last quarter. Creative Planning lifted its position in Rambus by 40.7% during the 3rd quarter. Creative Planning now owns 37,267 shares of the semiconductor company’s stock worth $1,573,000 after acquiring an additional 10,772 shares in the last quarter. Blue Trust Inc. lifted its position in Rambus by 255.9% during the 3rd quarter. Blue Trust Inc. now owns 4,061 shares of the semiconductor company’s stock worth $171,000 after acquiring an additional 2,920 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Rambus by 123.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 36,003 shares of the semiconductor company’s stock worth $1,520,000 after acquiring an additional 19,903 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its position in Rambus by 58.8% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 10,056 shares of the semiconductor company’s stock worth $425,000 after acquiring an additional 3,724 shares in the last quarter. 88.54% of the stock is owned by institutional investors and hedge funds.

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.