Rambus Inc. (NASDAQ:RMBS) CEO Sells $508,800.00 in Stock

Rambus Inc. (NASDAQ:RMBS) CEO Luc Seraphin sold 10,000 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $50.88, for a total value of $508,800.00. Following the sale, the chief executive officer now owns 346,844 shares in the company, valued at approximately $17,647,422.72. The trade was a 2.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Luc Seraphin also recently made the following trade(s):

• On Tuesday, March 25th, Luc Seraphin sold 10,000 shares of Rambus stock. The shares were sold at an average price of $58.64, for a total value of $586,400.00.
• On Tuesday, March 18th, Luc Seraphin sold 10,000 shares of Rambus stock. The stock was sold at an average price of $53.79, for a total transaction of $537,900.00.

Rambus Stock Performance

Shares of RMBS opened at $43.13 on Friday. Rambus Inc. has a 52 week low of $37.43 and a 52 week high of $69.15. The stock has a 50 day moving average price of $57.96 and a two-hundred day moving average price of $53.74. The firm has a market capitalization of $4.63 billion, a P/E ratio of 25.98 and a beta of 1.25.

Institutional Investors Weigh In On Rambus

Several institutional investors have recently bought and sold shares of RMBS. Price T Rowe Associates Inc. MD boosted its holdings in Rambus by 442.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,449,128 shares of the semiconductor company’s stock worth $288,042,000 after acquiring an additional 4,445,146 shares during the last quarter. Invesco Ltd. boosted its holdings in Rambus by 72.1% during the fourth quarter. Invesco Ltd. now owns 4,999,748 shares of the semiconductor company’s stock worth $264,287,000 after purchasing an additional 2,093,953 shares during the last quarter. Norges Bank purchased a new position in Rambus during the fourth quarter worth about $94,368,000. Raymond James Financial Inc. bought a new stake in Rambus in the 4th quarter worth about $51,500,000. Finally, Congress Asset Management Co. purchased a new stake in Rambus in the 4th quarter valued at about $45,778,000. Institutional investors own 88.54% of the company’s stock.

Wall Street Analysts Forecast Growth

RMBS has been the topic of several research analyst reports. StockNews.com lowered shares of Rambus from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Wells Fargo & Company increased their price objective on shares of Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Susquehanna raised their target price on Rambus from $66.00 to $70.00 and gave the company a “positive” rating in a research note on Tuesday, February 4th. Rosenblatt Securities upped their price target on Rambus from $85.00 to $92.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Finally, Evercore ISI initiated coverage on Rambus in a research note on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 price objective for the company. One equities 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 stock. According to data from MarketBeat.com, Rambus currently has a consensus rating of “Buy” and a consensus target price of $76.71.

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.