Rambus (NASDAQ:RMBS) EVP Sells $5,751,174.66 in Stock

Rambus, Inc. (NASDAQ:RMBS) EVP Xianzhi Sean Fan sold 37,914 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $151.69, for a total value of $5,751,174.66. Following the completion of the transaction, the executive vice president owned 168,358 shares in the company, valued at approximately $25,538,225.02. This represents a 18.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Rambus Stock Up 10.0%

RMBS stock traded up $14.25 during midday trading on Tuesday, reaching $157.23. 2,860,946 shares of the company’s stock traded hands, compared to its average volume of 2,473,734. The company has a market cap of $17.00 billion, a price-to-earnings ratio of 74.87 and a beta of 1.79. The firm’s fifty day moving average price is $114.04 and its 200-day moving average price is $104.72. Rambus, Inc. has a 52 week low of $52.12 and a 52 week high of $161.80.

Rambus (NASDAQ:RMBS) last released its quarterly earnings data on Monday, April 27th. The semiconductor company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. The firm had revenue of $180.19 million for the quarter, compared to analyst estimates of $179.94 million. Rambus had a net margin of 31.90% and a return on equity of 17.41%. Analysts forecast that Rambus, Inc. will post 2.44 earnings per share for the current year.

Hedge Funds Weigh In On Rambus

Several hedge funds have recently modified their holdings of RMBS. NewEdge Advisors LLC grew its holdings in shares of Rambus by 22,321.4% in the first quarter. NewEdge Advisors LLC now owns 9,417 shares of the semiconductor company’s stock valued at $488,000 after acquiring an additional 9,375 shares in the last quarter. Empowered Funds LLC lifted its holdings in Rambus by 34.1% during the first quarter. Empowered Funds LLC now owns 22,750 shares of the semiconductor company’s stock worth $1,178,000 after acquiring an additional 5,783 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Rambus by 6.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 309,512 shares of the semiconductor company’s stock worth $16,025,000 after purchasing an additional 19,120 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Rambus in the first quarter worth $218,000. Finally, Quantbot Technologies LP bought a new position in Rambus in the 2nd quarter valued at $102,000. Institutional investors own 88.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Robert W. Baird downgraded Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price target for the company. in a research note on Tuesday, April 28th. Weiss Ratings downgraded Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, March 10th. Jefferies Financial Group raised their target price on Rambus from $120.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Zacks Research upgraded Rambus to a “hold” rating in a report on Monday, January 26th. Finally, Susquehanna lowered their price target on Rambus from $100.00 to $90.00 and set a “neutral” rating for the company in a research report on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $130.43.

About Rambus

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.