Insider Selling: Rambus Inc. (NASDAQ:RMBS) CEO Sells $324,389.80 in Stock

Rambus Inc. (NASDAQ:RMBS) CEO Luc Seraphin sold 5,530 shares of the stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $58.66, for a total value of $324,389.80. Following the sale, the chief executive officer now directly owns 262,791 shares in the company, valued at approximately $15,415,320.06. The sale was disclosed in a filing with the SEC, which is accessible through this link.

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 transaction of $898,950.00.
• On Tuesday, March 26th, Luc Seraphin sold 15,000 shares of Rambus stock. The stock was sold at an average price of $62.69, for a total transaction 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 transaction of $875,250.00.
• On Tuesday, March 12th, Luc Seraphin sold 15,000 shares of Rambus stock. The stock was 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 stock was sold at an average price of $62.17, for a total value of $932,550.00.

Rambus Trading Down 3.2 %

Shares of Rambus stock opened at $54.68 on Friday. The business’s 50-day moving average price is $59.94 and its 200-day moving average price is $62.56. The firm has a market capitalization of $5.94 billion, a PE ratio of 18.23 and a beta of 1.16. Rambus Inc. has a 12 month low of $43.58 and a 12 month high of $76.38.

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

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. West Tower Group LLC grew its position in Rambus by 194.4% during the 4th quarter. West Tower Group LLC now owns 418 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 276 shares during the last quarter. Rise Advisors LLC bought a new position in shares of Rambus in the first quarter worth approximately $28,000. Blue Trust Inc. increased its stake in shares of Rambus by 100.4% in 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 during the period. Fifth Third Bancorp raised its holdings in Rambus by 65.8% during 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 during the last quarter. Finally, Hollencrest Capital Management purchased a new stake in Rambus during the 1st quarter valued at $28,000. Hedge funds and other institutional investors own 88.54% of the company’s stock.

About Rambus

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.