Rambus Inc. (NASDAQ:RMBS) CEO Sells $586,400.00 in Stock

Rambus Inc. (NASDAQ:RMBS) CEO Luc Seraphin sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $58.64, for a total transaction of $586,400.00. Following the transaction, the chief executive officer now directly owns 306,931 shares of the company’s stock, valued at $17,998,433.84. This represents a 3.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• 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 Price Performance

RMBS stock opened at $55.44 on Friday. Rambus Inc. has a one year low of $37.43 and a one year high of $69.15. The stock has a market cap of $5.96 billion, a price-to-earnings ratio of 33.40 and a beta of 1.25. The company has a fifty day moving average price of $59.53 and a two-hundred day moving average price of $53.22.

Analysts Set New Price Targets

Several brokerages have commented on RMBS. Wells Fargo & Company boosted their price target 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. Rosenblatt Securities upped their target price on Rambus from $85.00 to $92.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Evercore ISI began coverage on Rambus in a research report on Tuesday, February 4th. They set an “outperform” rating and a $71.00 price target on the stock. Robert W. Baird set a $90.00 price objective on Rambus in a research note on Monday, February 3rd. Finally, StockNews.com cut shares of Rambus from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $76.71.

Institutional Trading of Rambus

Several hedge funds and other institutional investors have recently modified their holdings of RMBS. Empowered Funds LLC acquired a new stake in Rambus during the third quarter worth approximately $275,000. Great Valley Advisor Group Inc. lifted its holdings in Rambus by 4.3% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 8,550 shares of the semiconductor company’s stock worth $361,000 after purchasing an additional 350 shares during the last quarter. Cerity Partners LLC lifted its holdings in Rambus by 69.5% during the 3rd quarter. Cerity Partners LLC now owns 16,615 shares of the semiconductor company’s stock worth $701,000 after purchasing an additional 6,814 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Rambus in the 3rd quarter valued at $2,077,000. Finally, Qsemble Capital Management LP acquired a new position in Rambus in the 3rd quarter valued at $3,163,000. 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.