Rambus (NASDAQ:RMBS) CEO Sells $470,162.90 in Stock

Rambus, Inc. (NASDAQ:RMBS) CEO Luc Seraphin sold 5,426 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $86.65, for a total transaction of $470,162.90. Following the completion of the sale, the chief executive officer owned 345,767 shares in the company, valued at approximately $29,960,710.55. The trade was a 1.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, March 2nd, Luc Seraphin sold 39,914 shares of Rambus stock. The shares were sold at an average price of $98.63, for a total transaction of $3,936,717.82.

Rambus Price Performance

RMBS stock opened at $93.03 on Monday. The stock has a market cap of $10.06 billion, a price-to-earnings ratio of 44.09 and a beta of 1.63. The company has a 50 day simple moving average of $98.37 and a 200 day simple moving average of $99.17. Rambus, Inc. has a 1 year low of $40.12 and a 1 year high of $135.75.

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

Institutional Investors Weigh In On Rambus

Several institutional investors and hedge funds have recently made changes to their positions in RMBS. Steigerwald Gordon & Koch Inc. bought a new stake in Rambus in the third quarter valued at approximately $25,000. Acumen Wealth Advisors LLC bought a new position in Rambus during the 4th quarter worth approximately $25,000. Torren Management LLC bought a new position in Rambus during the 4th quarter worth approximately $26,000. Abound Wealth Management acquired a new position in shares of Rambus in the 3rd quarter worth approximately $28,000. Finally, Spire Wealth Management boosted its stake in shares of Rambus by 199.0% in the 4th quarter. Spire Wealth Management now owns 302 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 201 shares during the last quarter. Institutional investors and hedge funds own 88.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on RMBS shares. Evercore lowered their target price on Rambus from $126.00 to $119.00 and set an “outperform” rating for the company in a report on Tuesday, February 3rd. Cfra cut Rambus from a “hold” rating to a “moderate sell” rating in a report on Monday, December 15th. Susquehanna lowered their price objective on Rambus from $100.00 to $90.00 and set a “neutral” rating for the company in a research note on Tuesday, February 3rd. William Blair started coverage on shares of Rambus in a report on Thursday, January 22nd. They issued an “outperform” rating for the company. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $130.00 target price on shares of Rambus in a research report on Tuesday, February 3rd. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $105.71.

About Rambus

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.