Rambus (NASDAQ:RMBS) Director Sells $1,008,167.04 in Stock

Key Points

• Rambus director Meera Rao sold 8,538 shares at an average price of $118.08 on April 14, totaling $1,008,167.04 and reducing her ownership by 27.12% to 22,946 shares, according to an SEC filing.
• Rambus reported quarterly EPS of $0.68 (in line with estimates) and revenue of $190.24 million (slightly above expectations); the stock traded at $120.02, has a market cap of about $12.98 billion, and a 52-week range of $43.21–$135.75.
• Analysts’ consensus is a "Moderate Buy" with a $105.71 target amid mixed ratings from firms, and institutional investors hold roughly 88.5% of the shares.

Rambus, Inc. (NASDAQ:RMBS - Get Free Report) Director Meera Rao sold 8,538 shares of the company's stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $118.08, for a total value of $1,008,167.04. Following the sale, the director owned 22,946 shares of the company's stock, valued at $2,709,463.68. The trade was a 27.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Rambus Trading Down 1.4%

NASDAQ RMBS traded down $1.71 on Wednesday, hitting $120.02. 1,737,780 shares of the company's stock were exchanged, compared to its average volume of 2,394,359. The stock has a 50-day moving average of $97.06 and a 200-day moving average of $99.27. Rambus, Inc. has a 52 week low of $43.21 and a 52 week high of $135.75. The stock has a market cap of $12.98 billion, a price-to-earnings ratio of 56.88 and a beta of 1.63.

Rambus (NASDAQ:RMBS - Get Free Report) last released its earnings results on Monday, February 2nd. The semiconductor company reported $0.68 earnings per share for the quarter, hitting the consensus estimate of $0.68. Rambus had a return on equity of 17.69% and a net margin of 32.57%.The firm had revenue of $190.24 million during the quarter, compared to analysts' expectations of $188.21 million. As a group, analysts predict that Rambus, Inc. will post 1.89 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on RMBS. Rosenblatt Securities restated a "buy" rating and set a $130.00 target price on shares of Rambus in a research note on Tuesday, February 3rd. William Blair started coverage on shares of Rambus in a report on Thursday, January 22nd. They set an "outperform" rating for the company. Zacks Research upgraded shares of Rambus to a "hold" rating in a report on Monday, January 26th. Weiss Ratings downgraded shares of Rambus from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, March 10th. Finally, Susquehanna lowered their price target on shares of Rambus from $100.00 to $90.00 and set a "neutral" rating for the company in a report on Tuesday, February 3rd. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $105.71.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RMBS. Steigerwald Gordon & Koch Inc. acquired a new position in shares of Rambus during the third quarter worth $25,000. Acumen Wealth Advisors LLC acquired a new position in shares of Rambus during the fourth quarter worth $25,000. Torren Management LLC acquired a new stake in Rambus in the fourth quarter valued at $26,000. Abound Wealth Management acquired a new stake in Rambus in the third quarter valued at $28,000. Finally, Spire Wealth Management increased its holdings in Rambus by 199.0% in the fourth quarter. Spire Wealth Management now owns 302 shares of the semiconductor company's stock valued at $28,000 after purchasing an additional 201 shares during the period. 88.54% of the stock is currently owned by institutional investors and hedge funds.

About Rambus

Rambus Inc is a technology licensing company specializing in semiconductor and system-level interface solutions. Founded in 1990 by Stanford University researchers Mike Farmwald and Mark Horowitz, Rambus established its headquarters in Sunnyvale, California. The company initially gained prominence by developing high-speed DRAM interface technology and securing a broad patent portfolio covering memory architecture, data signaling and power management innovations.

Today, Rambus licenses its proprietary intellectual property (IP) to semiconductor companies, original equipment manufacturers (OEMs) and system integrators worldwide.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.