Rambus Inc. (NASDAQ:RMBS) CEO Sells $920,250.00 in Stock

Rambus Inc. (NASDAQ:RMBS - Get Free Report) CEO Luc Seraphin sold 15,000 shares of the firm's stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $61.35, for a total transaction of $920,250.00. Following the completion of the transaction, the chief executive officer now owns 268,321 shares of the company's stock, valued at $16,461,493.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, April 2nd, Luc Seraphin sold 15,000 shares of Rambus stock. The stock was sold at an average price of $59.93, for a total transaction of $898,950.00.
• On Tuesday, March 26th, Luc Seraphin sold 15,000 shares of Rambus stock. The stock was sold at an average price of $62.69, for a total transaction of $940,350.00.
• On Tuesday, March 19th, Luc Seraphin sold 15,000 shares of Rambus stock. The stock was sold at an average price of $58.35, for a total transaction of $875,250.00.
• On Tuesday, March 12th, Luc Seraphin sold 15,000 shares of Rambus stock. The stock was sold at an average price of $62.69, for a total transaction of $940,350.00.
• On Tuesday, March 5th, Luc Seraphin sold 15,000 shares of Rambus stock. The stock was sold at an average price of $62.17, for a total transaction of $932,550.00.

Rambus Trading Down 2.8 %

NASDAQ RMBS traded down $1.74 during trading on Wednesday, reaching $59.75. The company's stock had a trading volume of 1,162,283 shares, compared to its average volume of 1,606,563. The stock has a market capitalization of $6.49 billion, a PE ratio of 19.92 and a beta of 1.16. The business has a 50-day moving average price of $60.52 and a 200-day moving average price of $62.46. Rambus Inc. has a 1-year low of $43.58 and a 1-year high of $76.38.

Rambus (NASDAQ:RMBS - Get Free Report) last posted its earnings results on Monday, February 5th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.03. The firm had revenue of $136.00 million during the quarter, compared to analysts' expectations of $134.00 million. Rambus had a net margin of 72.41% and a return on equity of 17.70%. As a group, analysts expect that Rambus Inc. will post 1.63 earnings per share for the current year.

Institutional Trading of Rambus

Institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. bought a new position in shares of Rambus in the first quarter valued at approximately $230,000. Cambridge Investment Research Advisors Inc. raised its position in shares of Rambus by 78.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,230 shares of the semiconductor company's stock valued at $518,000 after purchasing an additional 7,142 shares during the period. MetLife Investment Management LLC raised its position in shares of Rambus by 56.5% in the first quarter. MetLife Investment Management LLC now owns 59,397 shares of the semiconductor company's stock valued at $1,894,000 after purchasing an additional 21,446 shares during the period. BlackRock Inc. raised its position in shares of Rambus by 0.3% in the first quarter. BlackRock Inc. now owns 17,199,468 shares of the semiconductor company's stock valued at $548,492,000 after purchasing an additional 47,422 shares during the period. Finally, Cibc World Market Inc. bought a new position in shares of Rambus in the first quarter valued at approximately $575,000. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RMBS has been the subject of several research reports. Rosenblatt Securities restated a "buy" rating and set a $85.00 price target on shares of Rambus in a report on Wednesday, March 13th. Wells Fargo & Company raised their price target on shares of Rambus from $80.00 to $85.00 and gave the stock an "overweight" rating in a report on Friday, January 26th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $73.20.

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.