Insider Selling: Rambus (NASDAQ:RMBS) CFO Sells $433,837.69 in Stock

Rambus, Inc. (NASDAQ:RMBS) CFO Desmond Lynch sold 4,273 shares of the company’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $101.53, for a total transaction of $433,837.69. Following the sale, the chief financial officer directly owned 63,618 shares in the company, valued at $6,459,135.54. This trade represents a 6.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Rambus Stock Performance

Rambus stock opened at $102.17 on Friday. Rambus, Inc. has a fifty-two week low of $40.12 and a fifty-two week high of $135.75. The firm’s fifty day moving average price is $102.59 and its 200-day moving average price is $96.34. The stock has a market cap of $11.01 billion, a P/E ratio of 48.42 and a beta of 1.53.

Rambus (NASDAQ:RMBS) last announced its earnings results on Monday, February 2nd. The semiconductor company reported $0.68 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.68. The business had revenue of $190.24 million for the quarter, compared to analyst estimates of $188.21 million. Rambus had a return on equity of 17.69% and a net margin of 32.57%. Sell-side analysts predict that Rambus, Inc. will post 1.89 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Cfra downgraded Rambus from a “hold” rating to a “moderate sell” rating in a research report on Monday, December 15th. Weiss Ratings raised shares of Rambus from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Evercore lowered their price target on shares of Rambus from $126.00 to $119.00 and set an “outperform” rating for the company in a research note on Tuesday, February 3rd. William Blair started coverage on shares of Rambus in a research report on Thursday, January 22nd. They set an “outperform” rating for the company. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $130.00 price objective on shares of Rambus in a report on Tuesday, February 3rd. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Rambus presently has an average rating of “Buy” and an average target price of $105.71.

Institutional Investors Weigh In On Rambus

Large investors have recently added to or reduced their stakes in the company. Hussman Strategic Advisors Inc. bought a new stake in shares of Rambus in the third quarter worth approximately $1,094,000. Nordea Investment Management AB lifted its position in Rambus by 101.7% during the third quarter. Nordea Investment Management AB now owns 139,430 shares of the semiconductor company’s stock valued at $14,669,000 after purchasing an additional 70,314 shares during the period. Oak Grove Capital LLC purchased a new stake in Rambus in the second quarter worth approximately $519,000. Mirae Asset Global Investments Co. Ltd. grew its position in Rambus by 1,320.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 129,676 shares of the semiconductor company’s stock worth $13,512,000 after purchasing an additional 120,549 shares during the period. Finally, Baader Bank Aktiengesellschaft purchased a new stake in Rambus during the 3rd quarter valued at $1,149,000. 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.