Emiko Higashi Sells 5,000 Shares of Rambus (NASDAQ:RMBS) Stock

Rambus, Inc. (NASDAQ:RMBS) Director Emiko Higashi sold 5,000 shares of Rambus stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $157.57, for a total value of $787,850.00. Following the completion of the transaction, the director owned 59,519 shares in the company, valued at approximately $9,378,408.83. This represents a 7.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Rambus Stock Down 0.4%

Rambus stock opened at $148.02 on Friday. Rambus, Inc. has a 12-month low of $52.12 and a 12-month high of $161.80. The business’s 50-day moving average price is $117.51 and its two-hundred day moving average price is $105.64. The stock has a market cap of $16.01 billion, a PE ratio of 70.49 and a beta of 1.79.

Rambus (NASDAQ:RMBS) last released its quarterly earnings results on Monday, April 27th. The semiconductor company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.02. The company had revenue of $180.19 million for the quarter, compared to analysts’ expectations of $179.94 million. Rambus had a return on equity of 17.41% and a net margin of 31.90%. As a group, analysts expect that Rambus, Inc. will post 2.44 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on RMBS. Jefferies Financial Group boosted their price target on Rambus from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Robert W. Baird cut Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price target on the stock. in a report on Tuesday, April 28th. Evercore restated an “outperform” rating and set a $172.00 price target on shares of Rambus in a report on Tuesday, April 28th. Rosenblatt Securities boosted their price target on Rambus from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Finally, Wells Fargo & Company boosted their price target on Rambus from $115.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $130.43.

Hedge Funds Weigh In On Rambus

A number of hedge funds and other institutional investors have recently made changes to their positions in RMBS. Acumen Wealth Advisors LLC acquired a new position in shares of Rambus in the fourth quarter worth approximately $25,000. Torren Management LLC acquired a new position in shares of Rambus in the fourth quarter worth approximately $26,000. Spire Wealth Management lifted its stake in shares of Rambus by 199.0% in the fourth quarter. Spire Wealth Management now owns 302 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 201 shares during the period. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Rambus in the fourth quarter worth approximately $28,000. Finally, Western Wealth Management LLC acquired a new position in shares of Rambus in the first quarter worth approximately $44,000. 88.54% of the stock is owned by institutional investors and hedge funds.

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.