Rambus Inc. (NASDAQ:RMBS) CEO Sells $468,100.00 in Stock

Rambus Inc. (NASDAQ:RMBS) CEO Luc Seraphin sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $46.81, for a total value of $468,100.00. Following the transaction, the chief executive officer now directly owns 336,844 shares in the company, valued at $15,767,667.64. The trade was a 2.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Luc Seraphin also recently made the following trade(s):

• On Tuesday, April 1st, Luc Seraphin sold 10,000 shares of Rambus stock. The shares were sold at an average price of $50.88, for a total transaction of $508,800.00.
• On Tuesday, March 25th, Luc Seraphin sold 10,000 shares of Rambus stock. The stock was sold at an average price of $58.64, for a total transaction of $586,400.00.
• On Tuesday, March 18th, Luc Seraphin sold 10,000 shares of Rambus stock. The shares were sold at an average price of $53.79, for a total transaction of $537,900.00.

Rambus Price Performance

Shares of NASDAQ RMBS traded down $1.86 during trading on Tuesday, reaching $42.90. 1,543,924 shares of the stock traded hands, compared to its average volume of 1,307,578. The company has a 50-day moving average of $57.70 and a 200-day moving average of $53.89. Rambus Inc. has a 52-week low of $37.43 and a 52-week high of $69.15. The stock has a market capitalization of $4.61 billion, a P/E ratio of 25.84 and a beta of 1.20.

Analyst Ratings Changes

A number of research analysts have commented on the company. Wells Fargo & Company upped their price objective on Rambus from $62.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. StockNews.com lowered shares of Rambus from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Robert W. Baird set a $90.00 price objective on Rambus in a report on Monday, February 3rd. Susquehanna increased their target price on Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a report on Tuesday, February 4th. Finally, Evercore ISI initiated coverage on Rambus in a research note on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 price target for the company. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Rambus has a consensus rating of “Buy” and a consensus price target of $76.71.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of Rambus by 442.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,449,128 shares of the semiconductor company’s stock worth $288,042,000 after purchasing an additional 4,445,146 shares in the last quarter. Invesco Ltd. lifted its position in Rambus by 72.1% in the 4th quarter. Invesco Ltd. now owns 4,999,748 shares of the semiconductor company’s stock worth $264,287,000 after buying an additional 2,093,953 shares during the last quarter. Norges Bank purchased a new stake in Rambus in the fourth quarter worth approximately $94,368,000. Raymond James Financial Inc. bought a new position in Rambus during the fourth quarter valued at approximately $51,500,000. Finally, Congress Asset Management Co. purchased a new position in shares of Rambus during the fourth quarter worth approximately $45,778,000. 88.54% of the stock is currently owned by institutional investors.

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.