Rambus Inc. (NASDAQ:RMBS) CEO Luc Seraphin Sells 10,000 Shares

Rambus Inc. (NASDAQ:RMBS) CEO Luc Seraphin sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $53.79, for a total transaction of $537,900.00. Following the sale, the chief executive officer now owns 316,931 shares of the company’s stock, valued at approximately $17,047,718.49. This represents a 3.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Rambus Stock Performance

RMBS opened at $56.96 on Thursday. The firm has a market cap of $6.12 billion, a P/E ratio of 34.31 and a beta of 1.25. The business has a 50 day moving average price of $59.55 and a 200 day moving average price of $52.62. Rambus Inc. has a twelve month low of $37.43 and a twelve month high of $69.15.

Wall Street Analyst Weigh In

RMBS has been the subject of a number of research analyst reports. Robert W. Baird set a $90.00 target price on shares of Rambus in a research report on Monday, February 3rd. Wells Fargo & Company lifted their price objective on Rambus from $62.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Rosenblatt Securities upped their target price on Rambus from $85.00 to $92.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Susquehanna lifted their price target on Rambus from $66.00 to $70.00 and gave the company a “positive” rating in a report on Tuesday, February 4th. Finally, StockNews.com downgraded Rambus from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Rambus presently has an average rating of “Buy” and a consensus target price of $76.71.

Institutional Trading of Rambus

A number of institutional investors and hedge funds have recently modified their holdings of RMBS. Price T Rowe Associates Inc. MD raised its holdings in Rambus by 442.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,449,128 shares of the semiconductor company’s stock worth $288,042,000 after acquiring an additional 4,445,146 shares during the period. Invesco Ltd. grew its position in shares of Rambus by 72.1% in the fourth quarter. Invesco Ltd. now owns 4,999,748 shares of the semiconductor company’s stock valued at $264,287,000 after purchasing an additional 2,093,953 shares during the last quarter. Norges Bank bought a new position in shares of Rambus in the fourth quarter worth about $94,368,000. Raymond James Financial Inc. acquired a new position in shares of Rambus during the 4th quarter worth about $51,500,000. Finally, Congress Asset Management Co. bought a new stake in Rambus during the 4th quarter valued at approximately $45,778,000. 88.54% of the stock is currently owned by institutional investors and hedge funds.

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.