Steven Laub Sells 1,847 Shares of Rambus Inc. (NASDAQ:RMBS) Stock

Rambus Inc. (NASDAQ:RMBS - Get Free Report) Director Steven Laub sold 1,847 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $55.12, for a total transaction of $101,806.64. Following the sale, the director now directly owns 9,057 shares in the company, valued at $499,221.84. This represents a 16.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Steven Laub also recently made the following trade(s):

• On Monday, May 19th, Steven Laub sold 3,653 shares of Rambus stock. The stock was sold at an average price of $55.56, for a total transaction of $202,960.68.

Rambus Price Performance

Rambus stock traded down $1.25 during midday trading on Friday, hitting $53.35. The company's stock had a trading volume of 1,374,096 shares, compared to its average volume of 1,281,861. Rambus Inc. has a 1-year low of $37.43 and a 1-year high of $69.15. The company has a 50-day moving average price of $50.76 and a two-hundred day moving average price of $55.40. The company has a market cap of $5.73 billion, a price-to-earnings ratio of 32.14 and a beta of 1.24.

Analysts Set New Price Targets

Several brokerages recently weighed in on RMBS. Evercore ISI began coverage on shares of Rambus in a report on Tuesday, February 4th. They issued an "outperform" rating and a $71.00 price objective on the stock. Wall Street Zen lowered shares of Rambus from a "buy" rating to a "hold" rating in a report on Monday, May 19th. Robert W. Baird set a $90.00 price objective on shares of Rambus in a report on Monday, February 3rd. Wells Fargo & Company increased their target price on shares of Rambus from $62.00 to $73.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $80.00 target price on shares of Rambus in a report on Tuesday, April 29th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $75.00.

Hedge Funds Weigh In On Rambus

Several hedge funds and other institutional investors have recently made changes to their positions in RMBS. Strs Ohio acquired a new position in Rambus during the 1st quarter worth approximately $1,413,000. Ellsworth Advisors LLC acquired a new position in Rambus during the 1st quarter worth approximately $3,868,000. Acadian Asset Management LLC acquired a new position in Rambus during the 1st quarter worth approximately $218,000. Intech Investment Management LLC increased its position in Rambus by 39.2% during the 1st quarter. Intech Investment Management LLC now owns 80,473 shares of the semiconductor company's stock worth $4,166,000 after purchasing an additional 22,677 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Rambus by 6.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 309,512 shares of the semiconductor company's stock worth $16,025,000 after purchasing an additional 19,120 shares in the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.

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.