Luc Seraphin Sells 39,914 Shares of Rambus (NASDAQ:RMBS) Stock

Rambus, Inc. (NASDAQ:RMBS) CEO Luc Seraphin sold 39,914 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $98.63, for a total value of $3,936,717.82. Following the transaction, the chief executive officer directly owned 331,070 shares in the company, valued at $32,653,434.10. This trade represents a 10.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Rambus Stock Up 5.1%

Shares of NASDAQ:RMBS opened at $92.04 on Thursday. The company has a 50 day moving average of $102.56 and a two-hundred day moving average of $97.03. Rambus, Inc. has a 52-week low of $40.12 and a 52-week high of $135.75. The company has a market capitalization of $9.92 billion, a price-to-earnings ratio of 43.62 and a beta of 1.55.

Rambus (NASDAQ:RMBS) last announced its earnings results on Monday, February 2nd. The semiconductor company reported $0.68 earnings per share for the quarter, meeting the consensus estimate of $0.68. Rambus had a net margin of 32.57% and a return on equity of 17.69%. The business had revenue of $190.24 million during the quarter, compared to the consensus estimate of $188.21 million. On average, equities analysts anticipate that Rambus, Inc. will post 1.89 earnings per share for the current year.

Hedge Funds Weigh In On Rambus

A number of hedge funds have recently added to or reduced their stakes in the business. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Rambus during the third quarter worth $25,000. Acumen Wealth Advisors LLC bought a new stake in shares of Rambus during the 4th quarter valued at about $25,000. Torren Management LLC acquired a new stake in Rambus during the fourth quarter worth about $26,000. True Wealth Design LLC raised its stake in Rambus by 162.5% during the second quarter. True Wealth Design LLC now owns 420 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 260 shares during the period. Finally, Abound Wealth Management bought a new position in Rambus in the third quarter worth about $28,000. Institutional investors and hedge funds own 88.54% of the company’s stock.

Analyst Upgrades and Downgrades

RMBS has been the subject of a number of recent analyst reports. Rosenblatt Securities restated a “buy” rating and set a $130.00 price objective on shares of Rambus in a research note on Tuesday, February 3rd. Zacks Research upgraded shares of Rambus to a “hold” rating in a research note on Monday, January 26th. Weiss Ratings upgraded shares of Rambus from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Cfra downgraded shares of Rambus from a “hold” rating to a “moderate sell” rating in a research report on Monday, December 15th. Finally, Evercore cut their target price on shares of Rambus from $126.00 to $119.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 3rd. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $105.71.

Rambus Company Profile

Rambus Inc is a technology licensing company specializing in semiconductor and system-level interface solutions. Founded in 1990 by Stanford University researchers Mike Farmwald and Mark Horowitz, Rambus established its headquarters in Sunnyvale, California. The company initially gained prominence by developing high-speed DRAM interface technology and securing a broad patent portfolio covering memory architecture, data signaling and power management innovations.

Today, Rambus licenses its proprietary intellectual property (IP) to semiconductor companies, original equipment manufacturers (OEMs) and system integrators worldwide.