Rambus (NASDAQ:RMBS) CFO Desmond Lynch Sells 9,074 Shares

Key Points

• Desmond Lynch, CFO of Rambus, sold 9,074 shares at an average price of $91.70, totaling approximately $832,085, resulting in a 12.34% decrease in his ownership.
• Rambus shares rose by 2.3%, reaching $97.05, with a strong trading volume of nearly 3 million shares, significantly above its average volume.
• Analysts have a positive outlook for Rambus, with several brokerages upgrading their ratings, and the stock currently holds a consensus rating of "Buy" with an average price target of $88.50.

Rambus, Inc. (NASDAQ:RMBS - Get Free Report) CFO Desmond Lynch sold 9,074 shares of Rambus stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $91.70, for a total value of $832,085.80. Following the completion of the transaction, the chief financial officer directly owned 64,430 shares of the company's stock, valued at $5,908,231. This represents a 12.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Rambus Trading Up 2.3%

Shares of Rambus stock traded up $2.17 during trading on Tuesday, reaching $97.05. The company's stock had a trading volume of 2,973,413 shares, compared to its average volume of 1,702,974. The stock has a 50-day moving average price of $73.08 and a two-hundred day moving average price of $60.88. Rambus, Inc. has a one year low of $38.01 and a one year high of $100.73. The stock has a market capitalization of $10.44 billion, a P/E ratio of 49.16 and a beta of 1.38.

Institutional Trading of Rambus

Hedge funds have recently added to or reduced their stakes in the business. Banque Cantonale Vaudoise bought a new position in Rambus during the 1st quarter worth about $25,000. Tsfg LLC bought a new position in shares of Rambus during the first quarter worth about $26,000. True Wealth Design LLC raised its position in Rambus by 162.5% in the 2nd quarter. True Wealth Design LLC now owns 420 shares of the semiconductor company's stock valued at $27,000 after buying an additional 260 shares during the last quarter. Bessemer Group Inc. raised its position 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 buying an additional 238 shares during the last quarter. Finally, Orion Capital Management LLC acquired a new position in Rambus during the 4th quarter worth approximately $37,000. Institutional investors and hedge funds own 88.54% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on RMBS. Arete upgraded shares of Rambus from a "neutral" rating to a "buy" rating and set a $91.00 price objective on the stock in a report on Thursday, August 28th. Rosenblatt Securities lifted their price objective on Rambus from $80.00 to $90.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Evercore ISI increased their target price on Rambus from $81.00 to $114.00 and gave the company an "outperform" rating in a research note on Tuesday. Jefferies Financial Group boosted their target price on Rambus from $69.00 to $75.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Finally, Wall Street Zen cut Rambus from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. Two research analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $88.50.

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.

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