Rambus (NASDAQ:RMBS) Director Sells $850,750.00 in Stock

Rambus, Inc. (NASDAQ:RMBS) Director Necip Sayiner sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $170.15, for a total value of $850,750.00. Following the completion of the transaction, the director owned 18,223 shares of the company’s stock, valued at approximately $3,100,643.45. The trade was a 21.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Rambus Stock Down 14.2%

Shares of NASDAQ:RMBS opened at $145.31 on Friday. Rambus, Inc. has a 52-week low of $57.12 and a 52-week high of $174.10. The stock has a market cap of $15.71 billion, a price-to-earnings ratio of 69.20 and a beta of 1.84. The business has a 50-day moving average price of $125.18 and a 200-day moving average price of $107.98.

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

Institutional Investors Weigh In On Rambus

Hedge funds have recently bought and sold shares of the stock. Krilogy Financial LLC raised its position in shares of Rambus by 3.8% during the 1st quarter. Krilogy Financial LLC now owns 2,238 shares of the semiconductor company’s stock worth $193,000 after acquiring an additional 81 shares in the last quarter. Oak Grove Capital LLC increased its position in Rambus by 1.3% during the fourth 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 during the period. Northwestern Mutual Investment Management Company LLC increased its position in Rambus by 0.4% during 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 buying an additional 103 shares during the period. Balefire LLC grew its stake in shares of Rambus by 3.8% in the 1st quarter. Balefire LLC now owns 2,932 shares of the semiconductor company’s stock valued at $252,000 after purchasing an additional 108 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC grew 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 during the last quarter. Institutional investors and hedge funds own 88.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Rosenblatt Securities boosted their price target on Rambus from $130.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Robert W. Baird cut Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price objective for the company. in a research report on Tuesday, April 28th. Wells Fargo & Company boosted their price objective on Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Evercore reissued an “outperform” rating and issued a $172.00 price objective on shares of Rambus in a research note on Tuesday, April 28th. Finally, Weiss Ratings cut Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, March 10th. 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 company. According to MarketBeat, Rambus presently has a consensus rating of “Moderate Buy” and an average target price of $130.43.

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.