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

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 company's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $85.63, for a total value of $642,225.00. Following the transaction, the director directly owned 30,824 shares in the company, valued at $2,639,459.12. The trade was a 19.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

NASDAQ:RMBS traded up $0.47 during mid-day trading on Wednesday, hitting $97.52. The company had a trading volume of 2,423,822 shares, compared to its average volume of 1,763,994. The business's fifty day moving average is $73.74 and its two-hundred day moving average is $61.13. The firm has a market cap of $10.49 billion, a P/E ratio of 46.00 and a beta of 1.38. Rambus, Inc. has a fifty-two week low of $38.01 and a fifty-two week high of $100.73.

Hedge Funds Weigh In On Rambus

Several institutional investors and hedge funds have recently bought and sold shares of the company. Banque Cantonale Vaudoise acquired a new position in shares of Rambus during the 1st quarter worth about $25,000. Tsfg LLC acquired a new stake in Rambus in the first quarter valued at about $26,000. True Wealth Design LLC increased its position in Rambus by 162.5% during the second quarter. True Wealth Design LLC now owns 420 shares of the semiconductor company's stock worth $27,000 after buying an additional 260 shares in the last quarter. Bessemer Group Inc. increased its stake in Rambus by 105.8% in the second quarter. Bessemer Group Inc. now owns 463 shares of the semiconductor company's stock valued at $30,000 after purchasing an additional 238 shares during the last quarter. Finally, Orion Capital Management LLC acquired a new stake in Rambus in the 4th quarter worth about $37,000. 88.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RMBS has been the topic of a number of analyst reports. Arete upgraded shares of Rambus from a "neutral" rating to a "buy" rating and set a $91.00 target price on the stock in a research report on Thursday, August 28th. Susquehanna raised their price target on shares of Rambus from $70.00 to $75.00 and gave the company a "positive" rating in a research report on Tuesday, July 29th. Rosenblatt Securities lifted their price objective on shares of Rambus from $90.00 to $130.00 and gave the stock a "buy" rating in a research report on Wednesday. Arete Research raised shares of Rambus to a "strong-buy" rating in a report on Thursday, August 28th. Finally, Evercore ISI lifted their price target on shares of Rambus from $81.00 to $114.00 and gave the stock an "outperform" rating in a research note on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company's stock. According to MarketBeat, Rambus has a consensus rating of "Buy" and a consensus price target of $93.50.

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.