Rambus (NASDAQ:RMBS) Director Emiko Higashi Sells 5,000 Shares of Stock

Rambus, Inc. (NASDAQ:RMBS) Director Emiko Higashi sold 5,000 shares of Rambus stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $157.57, for a total transaction of $787,850.00. Following the completion of the transaction, the director directly owned 59,519 shares in the company, valued at approximately $9,378,408.83. The trade was a 7.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Rambus Stock Down 5.5%

Shares of NASDAQ RMBS opened at $148.66 on Thursday. Rambus, Inc. has a 52 week low of $52.12 and a 52 week high of $161.80. The firm’s fifty day moving average is $116.42 and its 200 day moving average is $105.36. The company has a market cap of $16.08 billion, a price-to-earnings ratio of 70.79 and a beta of 1.79.

Rambus (NASDAQ:RMBS) last issued its earnings results on Monday, April 27th. The semiconductor company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.61 by $0.02. Rambus had a net margin of 31.90% and a return on equity of 17.41%. The company had revenue of $180.19 million for the quarter, compared to the consensus estimate of $179.94 million. Equities research analysts anticipate that Rambus, Inc. will post 2.44 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Rosenblatt Securities lifted their price target on shares of Rambus from $130.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Robert W. Baird cut shares of Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price target on the stock. in a report on Tuesday, April 28th. Evercore reiterated an “outperform” rating and issued a $172.00 price target on shares of Rambus in a report on Tuesday, April 28th. Susquehanna cut their price target on shares of Rambus from $100.00 to $90.00 and set a “neutral” rating on the stock in a report on Tuesday, February 3rd. Finally, Jefferies Financial Group lifted their price target on shares of Rambus from $120.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $130.43.

Hedge Funds Weigh In On Rambus

A number of hedge funds have recently bought and sold shares of RMBS. Invesco Ltd. boosted its stake in Rambus by 70.6% in the 4th quarter. Invesco Ltd. now owns 4,148,653 shares of the semiconductor company’s stock worth $381,220,000 after purchasing an additional 1,716,621 shares in the last quarter. Norges Bank bought a new position in Rambus in the 4th quarter worth about $156,356,000. Alliancebernstein L.P. boosted its stake in Rambus by 572.7% in the 3rd quarter. Alliancebernstein L.P. now owns 1,822,030 shares of the semiconductor company’s stock worth $189,856,000 after purchasing an additional 1,551,159 shares in the last quarter. Bank of America Corp DE boosted its stake in Rambus by 196.0% in the 3rd quarter. Bank of America Corp DE now owns 1,550,665 shares of the semiconductor company’s stock worth $161,579,000 after purchasing an additional 1,026,776 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in Rambus by 1,009.5% in the 1st quarter. Bessemer Group Inc. now owns 1,039,905 shares of the semiconductor company’s stock worth $89,463,000 after purchasing an additional 946,177 shares in the last quarter. Institutional investors own 88.54% of the company’s stock.

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.