Rambus Inc. (NASDAQ:RMBS) CEO Luc Seraphin Sells 10,000 Shares

Rambus Inc. (NASDAQ:RMBS) CEO Luc Seraphin sold 10,000 shares of the stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $53.79, for a total transaction of $537,900.00. Following the completion of the sale, the chief executive officer now owns 316,931 shares of the company’s stock, valued at approximately $17,047,718.49. This trade represents a 3.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Rambus Price Performance

Shares of NASDAQ RMBS opened at $56.72 on Friday. The stock has a market capitalization of $6.09 billion, a P/E ratio of 34.17 and a beta of 1.25. The company’s 50-day moving average is $59.56 and its 200 day moving average is $52.73. Rambus Inc. has a 1 year low of $37.43 and a 1 year high of $69.15.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lindbrook Capital LLC lifted its position in Rambus by 12.3% during the fourth quarter. Lindbrook Capital LLC now owns 1,513 shares of the semiconductor company’s stock valued at $80,000 after purchasing an additional 166 shares during the period. Mariner LLC raised its position in Rambus by 1.4% in the fourth quarter. Mariner LLC now owns 12,473 shares of the semiconductor company’s stock worth $659,000 after acquiring an additional 167 shares during the period. Hillsdale Investment Management Inc. raised its position in Rambus by 0.4% in the fourth quarter. Hillsdale Investment Management Inc. now owns 45,400 shares of the semiconductor company’s stock worth $2,400,000 after acquiring an additional 200 shares during the period. Arizona State Retirement System raised its position in Rambus by 0.7% in the fourth quarter. Arizona State Retirement System now owns 31,237 shares of the semiconductor company’s stock worth $1,651,000 after acquiring an additional 202 shares during the period. Finally, Nations Financial Group Inc. IA ADV raised its position in Rambus by 2.8% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 8,925 shares of the semiconductor company’s stock worth $472,000 after acquiring an additional 246 shares during the period. Institutional investors own 88.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. StockNews.com downgraded shares of Rambus from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Wells Fargo & Company increased their target price on shares of Rambus from $62.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Baird R W raised shares of Rambus to a “strong-buy” rating in a report on Monday, November 25th. Evercore ISI started coverage on shares of Rambus in a report on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 price objective for the company. Finally, Susquehanna raised their price objective on shares of Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a report on Tuesday, February 4th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Rambus currently has a consensus rating of “Buy” and an average target price of $76.71.

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.