Necip Sayiner Sells 7,500 Shares of Rambus (NASDAQ:RMBS) Stock

Key Points

• Rambus Inc. Director Necip Sayiner sold 7,500 shares of stock at an average price of $85.63, totaling $642,225.00, which represents a 19.57% decrease in his position.
• Recently, institutional investors have increased their holdings in Rambus, with Price T Rowe Associates boosting its stake by 60.5% in the first quarter, indicating strong institutional interest.
• Rambus has a current market cap of $9.30 billion and a consensus rating of "Buy" from analysts, with a target price averaging $79.38.

Rambus, Inc. (NASDAQ:RMBS - Get Free Report) Director Necip Sayiner sold 7,500 shares of the business's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $85.63, for a total transaction of $642,225.00. Following the transaction, the director directly owned 30,824 shares of the company's stock, valued at approximately $2,639,459.12. This trade represents a 19.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Necip Sayiner also recently made the following trade(s):

• On Friday, August 8th, Necip Sayiner sold 7,500 shares of Rambus stock. The shares were sold at an average price of $73.53, for a total transaction of $551,475.00.

Rambus Stock Performance

Shares of RMBS traded up $3.71 during midday trading on Tuesday, hitting $98.59. 310,161 shares of the stock traded hands, compared to its average volume of 1,128,587. Rambus, Inc. has a 1-year low of $38.01 and a 1-year high of $100.73. The firm has a market capitalization of $10.61 billion, a PE ratio of 45.92 and a beta of 1.38. The business's 50 day moving average price is $72.45 and its two-hundred day moving average price is $60.62.

Institutional Investors Weigh In On Rambus

Large investors have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. boosted its position in shares of Rambus by 9.1% in the fourth quarter. Ameriprise Financial Inc. now owns 249,130 shares of the semiconductor company's stock valued at $13,169,000 after acquiring an additional 20,682 shares during the period. Cetera Investment Advisers boosted its position in shares of Rambus by 3.2% in the fourth quarter. Cetera Investment Advisers now owns 24,486 shares of the semiconductor company's stock valued at $1,294,000 after acquiring an additional 757 shares during the period. Deutsche Bank AG boosted its position in shares of Rambus by 40.1% in the fourth quarter. Deutsche Bank AG now owns 139,002 shares of the semiconductor company's stock valued at $7,348,000 after acquiring an additional 39,798 shares during the period. Lazard Asset Management LLC boosted its position in shares of Rambus by 112.3% in the fourth quarter. Lazard Asset Management LLC now owns 69,169 shares of the semiconductor company's stock valued at $3,655,000 after acquiring an additional 36,582 shares during the period. Finally, Nuveen Asset Management LLC boosted its position in shares of Rambus by 12.2% in the fourth quarter. Nuveen Asset Management LLC now owns 1,064,700 shares of the semiconductor company's stock valued at $56,280,000 after acquiring an additional 116,079 shares during the period. Institutional investors own 88.54% of the company's stock.

Analyst Ratings Changes

RMBS has been the topic of a number of recent analyst reports. Rosenblatt Securities lifted their price objective on shares of Rambus from $80.00 to $90.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Susquehanna lifted their price objective on shares of Rambus from $70.00 to $75.00 and gave the company a "positive" rating in a research note on Tuesday, July 29th. Arete Research upgraded shares of Rambus to a "strong-buy" rating in a research note on Thursday, August 28th. Robert W. Baird lifted their price objective on shares of Rambus from $90.00 to $120.00 and gave the company an "outperform" rating in a research note on Monday. Finally, Arete upgraded shares of Rambus from a "neutral" rating to a "buy" rating and set a $91.00 price objective on the stock in a research note on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $83.13.

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.