Rambus (NASDAQ:RMBS) CFO Desmond Lynch Sells 4,273 Shares of Stock

Rambus, Inc. (NASDAQ:RMBS) CFO Desmond Lynch sold 4,273 shares of Rambus stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $101.53, for a total transaction of $433,837.69. Following the transaction, the chief financial officer directly owned 63,618 shares in the company, valued at $6,459,135.54. This represents a 6.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Rambus Price Performance

NASDAQ RMBS opened at $98.57 on Wednesday. The company has a fifty day moving average price of $102.17 and a 200-day moving average price of $96.27. The firm has a market cap of $10.62 billion, a price-to-earnings ratio of 46.72 and a beta of 1.53. Rambus, Inc. has a 1 year low of $40.12 and a 1 year high of $135.75.

Rambus (NASDAQ:RMBS) last released its quarterly earnings results on Monday, February 2nd. The semiconductor company reported $0.68 earnings per share for the quarter, hitting the consensus estimate of $0.68. Rambus had a net margin of 32.57% and a return on equity of 17.69%. The business had revenue of $190.24 million for the quarter, compared to analysts’ expectations of $188.21 million. On average, research analysts anticipate that Rambus, Inc. will post 1.89 EPS for the current fiscal year.

Institutional Investors Weigh In On Rambus

Large investors have recently added to or reduced their stakes in the company. Steigerwald Gordon & Koch Inc. purchased a new stake in Rambus during the third quarter valued at about $25,000. Acumen Wealth Advisors LLC purchased a new position in shares of Rambus in the fourth quarter worth about $25,000. Torren Management LLC bought a new stake in shares of Rambus in the fourth quarter valued at approximately $26,000. True Wealth Design LLC lifted its stake in shares of Rambus by 162.5% during the 2nd quarter. True Wealth Design LLC now owns 420 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 260 shares in the last quarter. Finally, Abound Wealth Management bought a new position in Rambus in the 3rd quarter worth approximately $28,000. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on RMBS shares. Zacks Research upgraded Rambus to a “hold” rating in a report on Monday, January 26th. Rosenblatt Securities reaffirmed a “buy” rating and set a $130.00 target price on shares of Rambus in a research report on Tuesday, February 3rd. Evercore lowered their target price on Rambus from $126.00 to $119.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 3rd. Jefferies Financial Group upgraded shares of Rambus to a “strong-buy” rating in a research report on Tuesday, October 28th. Finally, William Blair assumed coverage on shares of Rambus in a report on Thursday, January 22nd. They set an “outperform” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Rambus currently has an average rating of “Buy” and a consensus price target of $105.71.

Rambus Company Profile

Rambus Inc is a technology licensing company specializing in semiconductor and system-level interface solutions. Founded in 1990 by Stanford University researchers Mike Farmwald and Mark Horowitz, Rambus established its headquarters in Sunnyvale, California. The company initially gained prominence by developing high-speed DRAM interface technology and securing a broad patent portfolio covering memory architecture, data signaling and power management innovations.

Today, Rambus licenses its proprietary intellectual property (IP) to semiconductor companies, original equipment manufacturers (OEMs) and system integrators worldwide.