Rambus (NASDAQ:RMBS) Trading 4.3% Higher

Rambus Inc. (NASDAQ:RMBS) shot up 4.3% during mid-day trading on Wednesday . The company traded as high as $56.69 and last traded at $56.64. 156,323 shares changed hands during trading, a decline of 89% from the average session volume of 1,442,524 shares. The stock had previously closed at $54.28.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on RMBS shares. Rosenblatt Securities restated a “buy” rating and issued a $85.00 price target on shares of Rambus in a research report on Wednesday, March 13th. Jefferies Financial Group restated a “buy” rating and set a $75.00 price target (up previously from $72.00) on shares of Rambus in a research note on Monday, May 13th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $80.00.

Rambus Stock Performance

The company has a market cap of $6.10 billion, a price-to-earnings ratio of 17.31 and a beta of 1.19. The company has a 50-day simple moving average of $56.36 and a 200-day simple moving average of $61.08.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings data on Monday, April 29th. The semiconductor company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $133.60 million for the quarter, compared to analyst estimates of $132.00 million. Rambus had a return on equity of 16.99% and a net margin of 78.14%. As a group, equities research analysts forecast that Rambus Inc. will post 1.36 EPS for the current year.

Insider Activity at Rambus

In other Rambus news, Director Eric B. Stang sold 5,408 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $56.95, for a total transaction of $307,985.60. Following the transaction, the director now directly owns 32,422 shares in the company, valued at $1,846,432.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Rambus news, Director Eric B. Stang sold 5,408 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $56.95, for a total transaction of $307,985.60. Following the sale, the director now directly owns 32,422 shares in the company, valued at $1,846,432.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Luc Seraphin sold 15,000 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $59.93, for a total value of $898,950.00. Following the completion of the sale, the chief executive officer now directly owns 283,321 shares in the company, valued at approximately $16,979,427.53. The disclosure for this sale can be found here. Insiders sold 40,938 shares of company stock worth $2,451,575 over the last 90 days. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Rambus

Institutional investors and hedge funds have recently modified their holdings of the business. Rise Advisors LLC acquired a new position in shares of Rambus during the 1st quarter worth approximately $28,000. Blue Trust Inc. increased its position in Rambus by 100.4% during the fourth quarter. Blue Trust Inc. now owns 447 shares of the semiconductor company’s stock worth $31,000 after buying an additional 224 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of Rambus by 65.8% in the fourth quarter. Fifth Third Bancorp now owns 504 shares of the semiconductor company’s stock worth $34,000 after acquiring an additional 200 shares during the last quarter. Orion Capital Management LLC purchased a new stake in shares of Rambus in the third quarter valued at $39,000. Finally, GAMMA Investing LLC acquired a new stake in shares of Rambus during the fourth quarter valued at $66,000. Hedge funds and other institutional investors own 88.54% of the company’s stock.

About Rambus

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.