Insider Selling: Rambus Inc. (RMBS) SVP Sells 9,851 Shares of Stock
Rambus Inc. (NASDAQ:RMBS) SVP Jae Kim sold 9,851 shares of Rambus stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $13.35, for a total value of $131,510.85. Following the completion of the transaction, the senior vice president now directly owns 91,831 shares of the company’s stock, valued at $1,225,943.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Jae Kim also recently made the following trade(s):
- On Thursday, September 1st, Jae Kim sold 1,733 shares of Rambus stock. The shares were sold at an average price of $14.08, for a total value of $24,400.64.
Rambus Inc. (NASDAQ:RMBS) traded up 1.73% during trading on Tuesday, hitting $13.55. The stock had a trading volume of 381,661 shares. The company has a market cap of $1.50 billion, a price-to-earnings ratio of 66.75 and a beta of 1.07. The company has a 50-day moving average of $12.35 and a 200 day moving average of $12.61. Rambus Inc. has a 52 week low of $10.66 and a 52 week high of $14.50.
Rambus (NASDAQ:RMBS) last announced its quarterly earnings data on Monday, October 24th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.03. Rambus had a return on equity of 10.40% and a net margin of 7.36%. The business earned $89.90 million during the quarter, compared to the consensus estimate of $86.60 million. During the same period in the prior year, the company earned $0.14 EPS. Rambus’s revenue for the quarter was up 21.8% on a year-over-year basis. On average, equities research analysts anticipate that Rambus Inc. will post $0.60 EPS for the current year.
A number of analysts recently commented on RMBS shares. Zacks Investment Research lowered Rambus from a “hold” rating to a “sell” rating in a research report on Wednesday, October 12th. Jefferies Group reiterated a “hold” rating and issued a $13.50 price objective (up from $12.50) on shares of Rambus in a research report on Tuesday, October 25th. Benchmark Co. reiterated a “positive” rating on shares of Rambus in a research report on Tuesday, October 4th. Finally, Roth Capital started coverage on Rambus in a research report on Wednesday, August 31st. They issued a “buy” rating and a $16.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Rambus currently has an average rating of “Buy” and an average target price of $14.25.
Several hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its stake in shares of Rambus by 4,291.8% in the third quarter. Price T Rowe Associates Inc. MD now owns 2,538,440 shares of the company’s stock valued at $31,731,000 after buying an additional 2,480,640 shares in the last quarter. Credit Suisse AG increased its position in Rambus by 5.8% in the third quarter. Credit Suisse AG now owns 136,030 shares of the company’s stock valued at $1,701,000 after buying an additional 7,495 shares in the last quarter. Verition Fund Management LLC purchased a new position in Rambus during the third quarter valued at approximately $336,000. Cetera Advisor Networks LLC increased its position in Rambus by 105.0% in the third quarter. Cetera Advisor Networks LLC now owns 32,800 shares of the company’s stock valued at $410,000 after buying an additional 16,800 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Rambus during the third quarter valued at approximately $827,000. Institutional investors and hedge funds own 75.22% of the company’s stock.
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Rambus Inc produces semiconductor and intellectual property (IP) products, spanning memory and interfaces to security, sensors and lighting. The Company’s products are integrated into devices and systems, powering and securing diverse applications, including big data and media platforms. Its segments include Memory and Interfaces Division (MID) and Cryptography Research Division (CRD).
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