Insider Selling: Rambus Inc. (NASDAQ:RMBS) CEO Sells 10,000 Shares of Stock

Rambus Inc. (NASDAQ:RMBS) CEO Luc Seraphin sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $58.64, for a total value of $586,400.00. Following the sale, the chief executive officer now directly owns 306,931 shares of the company’s stock, valued at $17,998,433.84. The trade was a 3.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, March 18th, Luc Seraphin sold 10,000 shares of Rambus stock. The stock was sold at an average price of $53.79, for a total value of $537,900.00.

Rambus Trading Down 3.9 %

RMBS traded down $2.30 during midday trading on Wednesday, hitting $56.64. The company’s stock had a trading volume of 712,451 shares, compared to its average volume of 1,261,153. Rambus Inc. has a 52-week low of $37.43 and a 52-week high of $69.15. The firm has a 50-day moving average price of $59.66 and a two-hundred day moving average price of $53.18. The firm has a market cap of $6.09 billion, a P/E ratio of 34.12 and a beta of 1.25.

Hedge Funds Weigh In On Rambus

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Lindbrook Capital LLC lifted its position in Rambus by 12.3% during the fourth quarter. Lindbrook Capital LLC now owns 1,513 shares of the semiconductor company’s stock valued at $80,000 after buying an additional 166 shares in the last quarter. Mariner LLC lifted its position in shares of Rambus by 1.4% during the fourth quarter. Mariner LLC now owns 12,473 shares of the semiconductor company’s stock worth $659,000 after purchasing an additional 167 shares during the last quarter. Hillsdale Investment Management Inc. grew its stake in Rambus by 0.4% in the fourth quarter. Hillsdale Investment Management Inc. now owns 45,400 shares of the semiconductor company’s stock worth $2,400,000 after purchasing an additional 200 shares in the last quarter. Arizona State Retirement System increased its holdings in Rambus by 0.7% in the fourth quarter. Arizona State Retirement System now owns 31,237 shares of the semiconductor company’s stock valued at $1,651,000 after buying an additional 202 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV raised its stake in Rambus by 2.8% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 8,925 shares of the semiconductor company’s stock valued at $472,000 after buying an additional 246 shares in the last quarter. Institutional investors and hedge funds own 88.54% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on RMBS. Robert W. Baird set a $90.00 price objective on Rambus in a research report on Monday, February 3rd. Evercore ISI initiated coverage on shares of Rambus in a report on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 price target for the company. StockNews.com lowered shares of Rambus from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Susquehanna lifted their price target 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, Wells Fargo & Company upped their price target on Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. One equities research 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 company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $76.71.

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.