Insider Selling: Rambus Inc. (NASDAQ:RMBS) CEO Sells 5,530 Shares of Stock

Rambus Inc. (NASDAQ:RMBS) CEO Luc Seraphin sold 5,530 shares of Rambus stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $58.66, for a total transaction of $324,389.80. Following the sale, the chief executive officer now owns 262,791 shares in the company, valued at $15,415,320.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, April 9th, Luc Seraphin sold 15,000 shares of Rambus stock. The stock was sold at an average price of $61.35, for a total transaction of $920,250.00.
• On Tuesday, April 2nd, Luc Seraphin sold 15,000 shares of Rambus stock. The stock was sold at an average price of $59.93, for a total transaction of $898,950.00.
• On Tuesday, March 26th, Luc Seraphin sold 15,000 shares of Rambus stock. The stock was sold at an average price of $62.69, for a total transaction of $940,350.00.
• On Tuesday, March 19th, Luc Seraphin sold 15,000 shares of Rambus stock. The stock was sold at an average price of $58.35, for a total transaction of $875,250.00.
• On Tuesday, March 12th, Luc Seraphin sold 15,000 shares of Rambus stock. The stock was sold at an average price of $62.69, for a total transaction of $940,350.00.
• On Tuesday, March 5th, Luc Seraphin sold 15,000 shares of Rambus stock. The stock was sold at an average price of $62.17, for a total transaction of $932,550.00.

Rambus Trading Down 1.4 %

Shares of RMBS opened at $56.46 on Friday. The business’s 50-day moving average price is $60.02 and its 200 day moving average price is $62.57. The stock has a market capitalization of $6.13 billion, a P/E ratio of 18.82 and a beta of 1.16. Rambus Inc. has a 1-year low of $43.58 and a 1-year high of $76.38.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings results on Monday, February 5th. The semiconductor company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. Rambus had a return on equity of 17.70% and a net margin of 72.41%. The firm had revenue of $136.00 million for the quarter, compared to analysts’ expectations of $134.00 million. On average, research analysts predict that Rambus Inc. will post 1.63 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Wells Fargo & Company boosted their price target on shares of Rambus from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Rosenblatt Securities reissued a “buy” rating and issued a $85.00 price target on shares of Rambus in a research note on Wednesday, March 13th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $73.20.

Hedge Funds Weigh In On Rambus

Institutional investors and hedge funds have recently bought and sold shares of the business. West Tower Group LLC grew its stake in Rambus by 194.4% during the 4th quarter. West Tower Group LLC now owns 418 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 276 shares in the last quarter. Rise Advisors LLC purchased a new position in Rambus during the 1st quarter valued at about $28,000. Blue Trust Inc. grew its stake in Rambus by 100.4% during the 4th quarter. Blue Trust Inc. now owns 447 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 224 shares in the last quarter. Fifth Third Bancorp grew its stake in Rambus by 65.8% during the 4th quarter. Fifth Third Bancorp now owns 504 shares of the semiconductor company’s stock valued at $34,000 after acquiring an additional 200 shares in the last quarter. Finally, Hollencrest Capital Management purchased a new position in Rambus during the 1st quarter valued at about $28,000. 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.