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

Rambus Inc. (NASDAQ:RMBS) CEO Luc Seraphin sold 10,000 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $50.88, for a total transaction of $508,800.00. Following the sale, the chief executive officer now owns 346,844 shares of the company’s stock, valued at approximately $17,647,422.72. This represents a 2.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Tuesday, March 25th, Luc Seraphin sold 10,000 shares of Rambus stock. The shares were sold at an average price of $58.64, for a total value of $586,400.00.
• On Tuesday, March 18th, Luc Seraphin sold 10,000 shares of Rambus stock. The stock was sold at an average price of $53.79, for a total value of $537,900.00.

Rambus Price Performance

Rambus stock traded down $6.53 during mid-day trading on Thursday, hitting $46.15. 1,788,945 shares of the company were exchanged, compared to its average volume of 1,298,161. The company has a market capitalization of $4.96 billion, a P/E ratio of 27.80 and a beta of 1.25. The business’s 50 day simple moving average is $58.71 and its two-hundred day simple moving average is $53.67. Rambus Inc. has a 12-month low of $37.43 and a 12-month high of $69.15.

Institutional Investors Weigh In On Rambus

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Wells Fargo & Company upped their price target on Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. StockNews.com downgraded Rambus from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Robert W. Baird set a $90.00 price target on Rambus in a research note on Monday, February 3rd. Evercore ISI began coverage on Rambus in a research report on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 price objective for the company. Finally, Susquehanna boosted their price objective on shares of Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a report on Tuesday, February 4th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Rambus presently has an average rating of “Buy” and a consensus price target of $76.71.

Rambus Company Profile

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.