Luc Seraphin Sells 5,530 Shares of Rambus Inc. (NASDAQ:RMBS) Stock

Rambus Inc. (NASDAQ:RMBS) CEO Luc Seraphin sold 5,530 shares of Rambus stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $58.66, for a total value of $324,389.80. Following the completion of the transaction, the chief executive officer now owns 262,791 shares in the company, valued at $15,415,320.06. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Luc Seraphin also recently made the following trade(s):

• On Tuesday, April 9th, Luc Seraphin sold 15,000 shares of Rambus stock. The shares were sold at an average price of $61.35, for a total value of $920,250.00.
• On Tuesday, April 2nd, Luc Seraphin sold 15,000 shares of Rambus stock. The shares were sold at an average price of $59.93, for a total value of $898,950.00.
• On Tuesday, March 26th, Luc Seraphin sold 15,000 shares of Rambus stock. The shares were sold at an average price of $62.69, for a total value of $940,350.00.
• On Tuesday, March 19th, Luc Seraphin sold 15,000 shares of Rambus stock. The shares were sold at an average price of $58.35, for a total value of $875,250.00.
• On Tuesday, March 12th, Luc Seraphin sold 15,000 shares of Rambus stock. The shares were sold at an average price of $62.69, for a total value of $940,350.00.
• On Tuesday, March 5th, Luc Seraphin sold 15,000 shares of Rambus stock. The shares were sold at an average price of $62.17, for a total value of $932,550.00.

Rambus Stock Down 2.6 %

Shares of NASDAQ RMBS traded down $1.50 on Wednesday, hitting $57.22. The company had a trading volume of 498,316 shares, compared to its average volume of 1,561,738. Rambus Inc. has a 12-month low of $43.58 and a 12-month high of $76.38. The business has a 50 day moving average of $59.94 and a two-hundred day moving average of $62.65. The firm has a market capitalization of $6.21 billion, a P/E ratio of 19.57 and a beta of 1.16.

Rambus (NASDAQ:RMBS) last issued its earnings results on Monday, February 5th. The semiconductor company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.03. Rambus had a return on equity of 17.70% and a net margin of 72.41%. The company had revenue of $136.00 million during the quarter, compared to the consensus estimate of $134.00 million. On average, sell-side analysts anticipate that Rambus Inc. will post 1.63 earnings per share for the current year.

Analysts Set New Price Targets

RMBS has been the subject of several research reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 price objective on shares of Rambus in a report on Wednesday, March 13th. Wells Fargo & Company boosted their price target on Rambus from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Rambus currently has an average rating of “Moderate Buy” and a consensus target price of $73.20.

Institutional Investors Weigh In On Rambus

Institutional investors and hedge funds have recently modified their holdings of the stock. West Tower Group LLC boosted its position in shares of Rambus by 194.4% in the fourth quarter. West Tower Group LLC now owns 418 shares of the semiconductor company’s stock worth $29,000 after buying an additional 276 shares during the period. Rise Advisors LLC purchased a new position in Rambus in the first quarter valued at about $28,000. Blue Trust Inc. boosted its holdings in Rambus by 100.4% in the fourth quarter. Blue Trust Inc. now owns 447 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 224 shares during the last quarter. Fifth Third Bancorp boosted its holdings in Rambus by 65.8% in the fourth quarter. Fifth Third Bancorp now owns 504 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 200 shares during the last quarter. Finally, Hollencrest Capital Management purchased a new position in Rambus in the first quarter valued at about $28,000. Hedge funds and other institutional investors 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.