Rambus Inc. (NASDAQ:RMBS) Director Necip Sayiner Sells 4,625 Shares

Rambus Inc. (NASDAQ:RMBS) Director Necip Sayiner sold 4,625 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $66.74, for a total value of $308,672.50. Following the transaction, the director now owns 42,000 shares of the company’s stock, valued at approximately $2,803,080. This represents a 9.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Rambus Stock Down 3.3 %

RMBS traded down $2.26 during trading on Wednesday, reaching $66.33. 1,390,572 shares of the stock traded hands, compared to its average volume of 1,050,171. The stock has a market capitalization of $7.07 billion, a PE ratio of 39.96 and a beta of 1.26. The stock’s 50-day moving average is $59.44 and its 200 day moving average is $51.07. Rambus Inc. has a 12 month low of $37.42 and a 12 month high of $69.15.

Analysts Set New Price Targets

RMBS has been the topic of several recent research reports. Wells Fargo & Company lifted their price objective on shares of Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Rosenblatt Securities increased their price target on shares of Rambus from $85.00 to $92.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. 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. Loop Capital initiated coverage on shares of Rambus in a report on Monday, November 11th. They issued a “buy” rating and a $70.00 target price on the stock. Finally, Robert W. Baird initiated coverage on Rambus in a research report on Monday, November 25th. They set an “outperform” rating and a $90.00 target price on the stock. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Rambus has an average rating of “Buy” and a consensus price target of $77.29.

Institutional Investors Weigh In On Rambus

Several institutional investors have recently bought and sold shares of the stock. CWM LLC grew its position in shares of Rambus by 31.9% during the 3rd quarter. CWM LLC now owns 7,487 shares of the semiconductor company’s stock valued at $316,000 after acquiring an additional 1,811 shares during the period. Creative Planning increased its position in shares of Rambus by 40.7% during the 3rd quarter. Creative Planning now owns 37,267 shares of the semiconductor company’s stock valued at $1,573,000 after purchasing an additional 10,772 shares during the last quarter. Blue Trust Inc. lifted its stake in Rambus by 255.9% in the third quarter. Blue Trust Inc. now owns 4,061 shares of the semiconductor company’s stock worth $171,000 after purchasing an additional 2,920 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Rambus by 123.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 36,003 shares of the semiconductor company’s stock valued at $1,520,000 after acquiring an additional 19,903 shares during the period. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in shares of Rambus by 58.8% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 10,056 shares of the semiconductor company’s stock valued at $425,000 after purchasing an additional 3,724 shares during the period. Institutional investors own 88.54% of the company’s stock.

Rambus Company Profile

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.