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

Rambus logo with Computer and Technology background

Key Points

  • Rambus, Inc. Director Necip Sayiner sold 7,500 shares at an average price of $73.53, reducing his stake by 16.37% to 38,324 shares.
  • Institutional ownership of Rambus stock is high, with hedge funds and other investors holding 88.54% of the company's shares, indicating strong institutional interest.
  • Analyst ratings for Rambus are predominantly positive, with seven buy ratings and an average target price of $77.71.
  • Want stock alerts on Rambus? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Rambus, Inc. (NASDAQ:RMBS - Get Free Report) Director Necip Sayiner sold 7,500 shares of Rambus stock in a transaction on Friday, August 8th. The stock was sold at an average price of $73.53, for a total transaction of $551,475.00. Following the sale, the director owned 38,324 shares in the company, valued at $2,817,963.72. This represents a 16.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Rambus Stock Performance

RMBS traded down $0.09 on Monday, hitting $72.77. 1,240,599 shares of the company were exchanged, compared to its average volume of 1,059,957. The stock's fifty day moving average is $64.85 and its 200-day moving average is $58.19. The company has a market cap of $7.83 billion, a PE ratio of 34.33 and a beta of 1.28. Rambus, Inc. has a 12 month low of $37.42 and a 12 month high of $76.20.

Institutional Trading of Rambus

Several hedge funds and other institutional investors have recently bought and sold shares of RMBS. Sequoia Financial Advisors LLC raised its holdings in Rambus by 19.1% in the 1st quarter. Sequoia Financial Advisors LLC now owns 5,041 shares of the semiconductor company's stock valued at $261,000 after acquiring an additional 808 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Rambus by 53.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,602 shares of the semiconductor company's stock worth $554,000 after purchasing an additional 3,711 shares during the last quarter. KBC Group NV grew its holdings in Rambus by 18.9% during the 1st quarter. KBC Group NV now owns 4,765 shares of the semiconductor company's stock worth $247,000 after acquiring an additional 757 shares during the period. GAMMA Investing LLC lifted its stake in shares of Rambus by 45.8% in the 1st quarter. GAMMA Investing LLC now owns 4,573 shares of the semiconductor company's stock valued at $237,000 after purchasing an additional 1,436 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Rambus by 57.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,912 shares of the semiconductor company's stock valued at $358,000 after purchasing an additional 2,522 shares during the period. Institutional investors and hedge funds own 88.54% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on RMBS shares. Wall Street Zen downgraded shares of Rambus from a "buy" rating to a "hold" rating in a research note on Sunday. Jefferies Financial Group boosted their price target on Rambus from $69.00 to $75.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Rosenblatt Securities boosted their price target on Rambus from $80.00 to $90.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Finally, Susquehanna boosted their price target on Rambus from $70.00 to $75.00 and gave the company a "positive" rating in a research note on Tuesday, July 29th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Rambus presently has an average rating of "Buy" and an average target price of $77.71.

Read Our Latest Report on Rambus

About Rambus

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Rambus (NASDAQ:RMBS)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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