Luc Seraphin Sells 39,914 Shares of Rambus (NASDAQ:RMBS) Stock

Rambus, Inc. (NASDAQ:RMBS) CEO Luc Seraphin sold 39,914 shares of Rambus stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $98.63, for a total transaction of $3,936,717.82. Following the completion of the sale, the chief executive officer owned 331,070 shares in the company, valued at $32,653,434.10. The trade was a 10.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Rambus Trading Down 11.4%

Shares of Rambus stock traded down $11.29 during trading hours on Tuesday, reaching $87.59. 2,852,342 shares of the company’s stock were exchanged, compared to its average volume of 2,641,722. The stock has a market cap of $9.44 billion, a P/E ratio of 41.51 and a beta of 1.55. The company has a 50 day moving average of $102.60 and a two-hundred day moving average of $97.07. Rambus, Inc. has a fifty-two week low of $40.12 and a fifty-two week high of $135.75.

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

Analysts Set New Price Targets

RMBS has been the topic of a number of research analyst reports. Zacks Research raised shares of Rambus to a “hold” rating in a report on Monday, January 26th. Cfra downgraded Rambus from a “hold” rating to a “moderate sell” rating in a research report on Monday, December 15th. Rosenblatt Securities restated a “buy” rating and issued a $130.00 price objective on shares of Rambus in a research note on Tuesday, February 3rd. Evercore cut their price objective on Rambus from $126.00 to $119.00 and set an “outperform” rating for the company in a research report on Tuesday, February 3rd. Finally, Weiss Ratings upgraded Rambus from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Rambus has a consensus rating of “Buy” and a consensus target price of $105.71.

Institutional Trading of Rambus

Several institutional investors have recently added to or reduced their stakes in RMBS. Oak Grove Capital LLC raised its holdings in shares of Rambus by 1.3% during the 4th quarter. Oak Grove Capital LLC now owns 7,600 shares of the semiconductor company’s stock worth $698,000 after buying an additional 100 shares in the last quarter. Northwestern Mutual Investment Management Company LLC lifted its holdings in shares of Rambus by 0.4% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 24,085 shares of the semiconductor company’s stock worth $2,213,000 after acquiring an additional 103 shares during the last quarter. Krilogy Financial LLC boosted its stake in shares of Rambus by 5.3% in the 4th quarter. Krilogy Financial LLC now owns 2,157 shares of the semiconductor company’s stock valued at $198,000 after purchasing an additional 108 shares in the last quarter. Ashton Thomas Private Wealth LLC boosted its stake in shares of Rambus by 3.3% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,445 shares of the semiconductor company’s stock valued at $317,000 after purchasing an additional 110 shares in the last quarter. Finally, Meeder Advisory Services Inc. grew its holdings in shares of Rambus by 3.0% during the 4th quarter. Meeder Advisory Services Inc. now owns 3,883 shares of the semiconductor company’s stock valued at $357,000 after purchasing an additional 114 shares during the last quarter. 88.54% of the stock is currently owned by institutional investors.

About Rambus

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.