Rambus, Inc. (NASDAQ:RMBS) Director Sells $83,325.00 in Stock

Key Points

• Director Emiko Higashi of Rambus, Inc. sold 1,111 shares for $83,325, resulting in a 1.72% decrease in their ownership.
• Rambus stock experienced a 3.5% decline on Wednesday, trading at $71.21 with a market cap of $7.66 billion.
• Analysts have mixed ratings on Rambus, with eight rating it as a "buy" and one as a "strong buy," while target prices range from $75.00 to $90.00.

Rambus, Inc. (NASDAQ:RMBS - Get Free Report) Director Emiko Higashi sold 1,111 shares of the stock in a transaction on Monday, August 4th. The shares were sold at an average price of $75.00, for a total value of $83,325.00. Following the transaction, the director directly owned 63,371 shares of the company's stock, valued at approximately $4,752,825. This trade represents a 1.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Rambus Stock Down 3.5%

NASDAQ:RMBS traded down $2.58 during trading hours on Wednesday, reaching $71.21. 525,716 shares of the company's stock were exchanged, compared to its average volume of 1,055,609. The firm has a market capitalization of $7.66 billion, a price-to-earnings ratio of 33.67 and a beta of 1.28. The company has a 50-day moving average of $63.40 and a 200 day moving average of $57.98. Rambus, Inc. has a 1-year low of $37.42 and a 1-year high of $76.20.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Rosenblatt Securities boosted their target price 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. Wall Street Zen downgraded shares of Rambus from a "strong-buy" rating to a "buy" rating in a report on Saturday. Susquehanna increased their price target on shares of Rambus from $70.00 to $75.00 and gave the company a "positive" rating in a report on Tuesday, July 29th. Finally, Jefferies Financial Group lifted their price objective on shares of Rambus from $69.00 to $75.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $77.71.

Institutional Trading of Rambus

Several hedge funds have recently made changes to their positions in RMBS. Bessemer Group Inc. lifted its holdings in Rambus by 105.8% in the 2nd quarter. Bessemer Group Inc. now owns 463 shares of the semiconductor company's stock valued at $30,000 after acquiring an additional 238 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in shares of Rambus during the 1st quarter valued at about $25,000. Tsfg LLC bought a new position in shares of Rambus during the 1st quarter valued at about $26,000. Hantz Financial Services Inc. lifted its stake in Rambus by 1,386.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 639 shares of the semiconductor company's stock valued at $41,000 after acquiring an additional 596 shares in the last quarter. Finally, Orion Capital Management LLC bought a new stake in Rambus in the 4th quarter valued at approximately $37,000. Institutional investors and hedge funds own 88.54% of the company's stock.

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.

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