Luc Seraphin Sells 10,000 Shares of Rambus Inc. (NASDAQ:RMBS) Stock

Rambus Inc. (NASDAQ:RMBS) CEO Luc Seraphin sold 10,000 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $53.79, for a total transaction of $537,900.00. Following the completion of the sale, the chief executive officer now owns 316,931 shares in the company, valued at approximately $17,047,718.49. This trade represents a 3.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Rambus Price Performance

Shares of RMBS opened at $56.82 on Friday. The company has a market cap of $6.11 billion, a PE ratio of 34.23 and a beta of 1.25. The firm has a 50-day moving average of $59.55 and a 200-day moving average of $52.65. Rambus Inc. has a one year low of $37.43 and a one year high of $69.15.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on RMBS shares. Rosenblatt Securities increased their target price on shares of Rambus from $85.00 to $92.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Wells Fargo & Company raised their price objective on shares of Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Robert W. Baird set a $90.00 target price on shares of Rambus in a research report on Monday, February 3rd. Susquehanna raised their target price on shares of Rambus from $66.00 to $70.00 and gave the company a “positive” rating in a research report on Tuesday, February 4th. Finally, Evercore ISI started coverage on shares of Rambus in a research report on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 target price for the company. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $76.71.

Institutional Trading of Rambus

Several hedge funds and other institutional investors have recently bought and sold shares of RMBS. UMB Bank n.a. raised its position in shares of Rambus by 554.9% in the 4th quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 455 shares in the last quarter. Orion Capital Management LLC acquired a new position in shares of Rambus in the 4th quarter valued at approximately $37,000. Skandinaviska Enskilda Banken AB publ raised its position in shares of Rambus by 927.5% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 709 shares of the semiconductor company’s stock valued at $38,000 after buying an additional 640 shares in the last quarter. Quarry LP raised its position in shares of Rambus by 40.3% in the 3rd quarter. Quarry LP now owns 919 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 264 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its position in shares of Rambus by 379.1% in the 4th quarter. Farther Finance Advisors LLC now owns 1,126 shares of the semiconductor company’s stock valued at $60,000 after buying an additional 891 shares in the last quarter. Institutional investors and hedge funds 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.