Rambus Inc. (NASDAQ:RMBS) COO Xianzhi Sean Fan Sells 52,327 Shares

Rambus Inc. (NASDAQ:RMBS) COO Xianzhi Sean Fan sold 52,327 shares of Rambus stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $68.02, for a total value of $3,559,282.54. Following the transaction, the chief operating officer now directly owns 93,841 shares in the company, valued at $6,383,064.82. The trade was a 35.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Rambus Stock Down 3.3 %

Rambus stock traded down $2.26 during trading on Wednesday, hitting $66.33. The stock had a trading volume of 1,390,572 shares, compared to its average volume of 1,050,171. Rambus Inc. has a 1 year low of $37.42 and a 1 year high of $69.15. The stock’s 50 day moving average is $59.44 and its two-hundred day moving average is $51.07. The stock has a market cap of $7.07 billion, a price-to-earnings ratio of 39.96 and a beta of 1.26.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RMBS. Wells Fargo & Company boosted their price objective on Rambus from $62.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Evercore ISI assumed coverage on Rambus in a research note on Tuesday, February 4th. They set an “outperform” rating and a $71.00 price target on the stock. Baird R W raised Rambus to a “strong-buy” rating in a research note on Monday, November 25th. Robert W. Baird assumed coverage on Rambus in a research note on Monday, November 25th. They set an “outperform” rating and a $90.00 price target on the stock. Finally, Loop Capital assumed coverage on Rambus in a research note on Monday, November 11th. They set a “buy” rating and a $70.00 price target on the stock. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $77.29.

Hedge Funds Weigh In On Rambus

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Rambus by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 12,594,979 shares of the semiconductor company’s stock valued at $665,771,000 after purchasing an additional 31,645 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Rambus by 442.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,449,128 shares of the semiconductor company’s stock worth $288,042,000 after buying an additional 4,445,146 shares in the last quarter. Invesco Ltd. raised its position in shares of Rambus by 72.1% in the fourth quarter. Invesco Ltd. now owns 4,999,748 shares of the semiconductor company’s stock worth $264,287,000 after buying an additional 2,093,953 shares in the last quarter. State Street Corp increased its stake in Rambus by 3.5% in the third quarter. State Street Corp now owns 4,819,125 shares of the semiconductor company’s stock valued at $203,463,000 after acquiring an additional 164,830 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Rambus by 1.7% during the fourth quarter. JPMorgan Chase & Co. now owns 4,184,370 shares of the semiconductor company’s stock worth $221,186,000 after purchasing an additional 68,975 shares during the last quarter. 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.