Rambus (NASDAQ:RMBS) Director Sells $66,599.47 in Stock

Key Points

• Meera Rao, a director at Rambus, sold 653 shares for a total of $66,599.47, reducing her stake by 2.18% to approximately $2.98 million.
• Rambus stock recently traded at $103.80 with a market capitalization of $11.17 billion, underpinned by a P/E ratio of 48.99.
• Analysts have given Rambus a consensus rating of Buy, with price targets ranging from $75.00 to $120.00 based on recent upgrades from various firms.

Rambus, Inc. (NASDAQ:RMBS - Get Free Report) Director Meera Rao sold 653 shares of the business's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $101.99, for a total value of $66,599.47. Following the sale, the director owned 29,261 shares in the company, valued at approximately $2,984,329.39. The trade was a 2.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Meera Rao also recently made the following trade(s):

• On Tuesday, September 2nd, Meera Rao sold 3,000 shares of Rambus stock. The stock was sold at an average price of $71.72, for a total value of $215,160.00.

Rambus Price Performance

NASDAQ RMBS traded up $0.66 on Thursday, hitting $103.80. 1,066,062 shares of the company were exchanged, compared to its average volume of 1,256,548. The company's 50 day moving average price is $81.21 and its 200-day moving average price is $64.61. The firm has a market capitalization of $11.17 billion, a P/E ratio of 48.99 and a beta of 1.46. Rambus, Inc. has a twelve month low of $39.56 and a twelve month high of $109.15.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Arete Research upgraded Rambus to a "strong-buy" rating in a report on Thursday, August 28th. Arete upgraded 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. Evercore ISI increased their price objective on Rambus from $81.00 to $114.00 and gave the stock an "outperform" rating in a report on Tuesday, September 16th. Jefferies Financial Group increased their price objective on Rambus from $69.00 to $75.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Finally, Robert W. Baird increased their price objective on Rambus from $90.00 to $120.00 and gave the stock an "outperform" rating in a report on Monday, September 15th. Two research analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company's stock. According to data from MarketBeat.com, Rambus currently has an average rating of "Buy" and a consensus target price of $93.50.

Institutional Investors Weigh In On Rambus

Several hedge funds have recently modified their holdings of the business. Praxis Investment Management Inc. bought a new stake in shares of Rambus in the third quarter valued at approximately $270,000. Texas Permanent School Fund Corp boosted its position in shares of Rambus by 28.9% in the second quarter. Texas Permanent School Fund Corp now owns 55,810 shares of the semiconductor company's stock valued at $3,573,000 after acquiring an additional 12,520 shares during the period. Osaic Holdings Inc. boosted its position in shares of Rambus by 37.1% in the second quarter. Osaic Holdings Inc. now owns 11,620 shares of the semiconductor company's stock valued at $702,000 after acquiring an additional 3,146 shares during the period. Orion Porfolio Solutions LLC bought a new stake in shares of Rambus in the second quarter valued at approximately $299,000. Finally, Thrivent Financial for Lutherans boosted its position in shares of Rambus by 1.2% in the second quarter. Thrivent Financial for Lutherans now owns 25,291 shares of the semiconductor company's stock valued at $1,619,000 after acquiring an additional 303 shares during the period. 88.54% of the stock is owned by institutional investors.

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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