Rambus Inc. (NASDAQ:RMBS) CEO Luc Seraphin Sells 15,000 Shares of Stock

Rambus Inc. (NASDAQ:RMBS) CEO Luc Seraphin sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $62.69, for a total value of $940,350.00. Following the transaction, the chief executive officer now owns 259,755 shares of the company’s stock, valued at approximately $16,284,040.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, March 19th, Luc Seraphin sold 15,000 shares of Rambus stock. The stock was sold at an average price of $58.35, for a total transaction 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 transaction of $932,550.00.

Rambus Trading Up 1.6 %

Shares of NASDAQ:RMBS opened at $63.10 on Thursday. The company has a market capitalization of $6.85 billion, a price-to-earnings ratio of 21.03 and a beta of 1.16. The firm’s 50-day moving average is $62.64 and its 200 day moving average is $62.12. Rambus Inc. has a 12 month low of $43.19 and a 12 month high of $76.38.

Rambus (NASDAQ:RMBS) last released its quarterly earnings data on Monday, February 5th. The semiconductor company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.03. The firm had revenue of $136.00 million during the quarter, compared to the consensus estimate of $134.00 million. Rambus had a return on equity of 17.70% and a net margin of 72.41%. As a group, equities analysts forecast that Rambus Inc. will post 1.63 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 price objective on shares of Rambus in a research report on Wednesday, March 13th. Wells Fargo & Company upped their target price on shares of Rambus from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.20.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Hollencrest Capital Management acquired a new stake in Rambus during the first quarter worth about $28,000. West Tower Group LLC lifted 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 valued at $29,000 after acquiring an additional 276 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Rambus by 100.4% during the fourth quarter. Blue Trust Inc. now owns 447 shares of the semiconductor company’s stock worth $31,000 after buying an additional 224 shares in the last quarter. Altshuler Shaham Ltd purchased a new stake in Rambus during the 4th quarter valued at about $33,000. Finally, Fifth Third Bancorp grew its holdings in Rambus by 65.8% in the 4th quarter. Fifth Third Bancorp now owns 504 shares of the semiconductor company’s stock valued at $34,000 after buying an additional 200 shares in the last quarter. 88.54% of the stock is currently owned by hedge funds and other 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.