Insider Selling: Rambus (NASDAQ:RMBS) Director Sells $730,000.00 in Stock

Rambus, Inc. (NASDAQ:RMBS) Director Eric Stang sold 5,000 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $146.00, for a total value of $730,000.00. Following the completion of the sale, the director owned 19,218 shares of the company’s stock, valued at approximately $2,805,828. This trade represents a 20.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Rambus Stock Performance

Shares of NASDAQ:RMBS opened at $169.35 on Friday. The business’s 50-day simple moving average is $124.19 and its 200 day simple moving average is $107.72. The company has a market cap of $18.31 billion, a P/E ratio of 80.64 and a beta of 1.84. Rambus, Inc. has a one year low of $56.21 and a one year high of $174.10.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings data on Monday, April 27th. The semiconductor company reported $0.63 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $179.94 million. Analysts predict that Rambus, Inc. will post 2.44 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on RMBS shares. Jefferies Financial Group raised their price objective on shares of Rambus from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Wells Fargo & Company raised their price objective on Rambus from $115.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Robert W. Baird downgraded Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 target price on the stock. in a report on Tuesday, April 28th. Rosenblatt Securities upped their price objective on shares of Rambus from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Finally, Weiss Ratings lowered shares of Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, March 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $130.43.

Institutional Investors Weigh In On Rambus

Several institutional investors have recently made changes to their positions in RMBS. Acumen Wealth Advisors LLC bought a new stake in shares of Rambus in the 4th quarter valued at approximately $25,000. Torren Management LLC bought a new position in Rambus during the fourth quarter valued at approximately $26,000. Spire Wealth Management raised its position in Rambus by 199.0% during the fourth quarter. Spire Wealth Management now owns 302 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 201 shares in the last quarter. University of Texas Texas AM Investment Management Co. acquired a new stake in Rambus in the fourth quarter valued at approximately $28,000. Finally, Western Wealth Management LLC acquired a new stake in Rambus in the first quarter valued at approximately $44,000. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Rambus Company Profile

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.