Rambus (NASDAQ:RMBS) Director Sells $730,000.00 in Stock

Rambus, Inc. (NASDAQ:RMBS) Director Eric Stang sold 5,000 shares of Rambus stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $146.00, for a total value of $730,000.00. Following the sale, the director owned 19,218 shares of the company’s stock, valued at approximately $2,805,828. This trade represents a 20.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Rambus Stock Up 13.1%

Shares of NASDAQ RMBS traded up $19.30 during trading hours on Tuesday, reaching $166.78. 3,302,479 shares of the stock traded hands, compared to its average volume of 2,462,785. The company has a market capitalization of $18.04 billion, a P/E ratio of 79.42 and a beta of 1.84. Rambus, Inc. has a 52-week low of $54.05 and a 52-week high of $167.71. The company’s 50-day simple moving average is $119.61 and its two-hundred day simple moving average is $106.19.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings data on Monday, April 27th. The semiconductor company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. The company had revenue of $180.19 million for the quarter, compared to analysts’ expectations of $179.94 million. Rambus had a return on equity of 17.41% and a net margin of 31.90%. As a group, sell-side analysts forecast that Rambus, Inc. will post 2.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RMBS. Robert W. Baird cut Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price objective on the stock. in a report on Tuesday, April 28th. Weiss Ratings cut Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, March 10th. Wells Fargo & Company raised their price objective on Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. Jefferies Financial Group raised their price objective on Rambus from $120.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Finally, Evercore reissued an “outperform” rating and set a $172.00 price objective on shares of Rambus in a report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $130.43.

Hedge Funds Weigh In On Rambus

Large investors have recently bought and sold shares of the stock. Baader Bank Aktiengesellschaft purchased a new position in Rambus in the 3rd quarter worth approximately $1,149,000. M&T Bank Corp raised its holdings in Rambus by 2,372.0% in the fourth quarter. M&T Bank Corp now owns 122,636 shares of the semiconductor company’s stock worth $11,269,000 after purchasing an additional 117,675 shares in the last quarter. CloudAlpha Capital Management Limited Hong Kong bought a new position in Rambus in the third quarter worth $17,276,000. Jackson Creek Investment Advisors LLC bought a new position in Rambus in the third quarter worth $2,492,000. Finally, TD Asset Management Inc raised its holdings in Rambus by 463.6% in the third quarter. TD Asset Management Inc now owns 25,306 shares of the semiconductor company’s stock worth $2,637,000 after purchasing an additional 20,816 shares in the last quarter. 88.54% of the stock is owned by hedge funds and other institutional investors.

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.