Luc Seraphin Sells 5,426 Shares of Rambus (NASDAQ:RMBS) Stock

Rambus, Inc. (NASDAQ:RMBS) CEO Luc Seraphin sold 5,426 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $86.65, for a total transaction of $470,162.90. Following the completion of the transaction, the chief executive officer owned 345,767 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 stock was sold at an average price of $98.63, for a total transaction of $3,936,717.82.

Rambus Price Performance

Shares of RMBS stock opened at $93.03 on Friday. Rambus, Inc. has a one year low of $40.12 and a one year high of $135.75. The company’s fifty day moving average price is $98.37 and its 200-day moving average price is $99.16. The company has a market capitalization of $10.06 billion, a price-to-earnings ratio of 44.09 and a beta of 1.63.

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. 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. Susquehanna dropped their price target on Rambus from $100.00 to $90.00 and set a “neutral” rating for the company in a research note on Tuesday, February 3rd. Cfra lowered shares of Rambus from a “hold” rating to a “moderate sell” rating in a report on Monday, December 15th. Evercore reduced their price objective on shares of Rambus from $126.00 to $119.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 3rd. Finally, Zacks Research raised shares of Rambus to a “hold” rating in a report on Monday, January 26th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $105.71.

Institutional Investors Weigh In On Rambus

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

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.