Rambus Inc. (NASDAQ:RMBS) CEO Luc Seraphin Sells 10,000 Shares

Rambus Inc. (NASDAQ:RMBS) CEO Luc Seraphin sold 10,000 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $50.88, for a total value of $508,800.00. Following the completion of the sale, the chief executive officer now owns 346,844 shares in the company, valued at $17,647,422.72. This represents a 2.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

• On Tuesday, March 25th, Luc Seraphin sold 10,000 shares of Rambus stock. The shares were sold at an average price of $58.64, for a total value of $586,400.00.
• 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 transaction of $537,900.00.

Rambus Stock Down 12.4 %

Rambus stock traded down $6.53 during mid-day trading on Thursday, hitting $46.15. The company had a trading volume of 1,788,945 shares, compared to its average volume of 1,298,161. Rambus Inc. has a 1 year low of $37.43 and a 1 year high of $69.15. The business has a fifty day moving average of $58.71 and a 200 day moving average of $53.67. The stock has a market cap of $4.96 billion, a price-to-earnings ratio of 27.80 and a beta of 1.25.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. StockNews.com downgraded shares of Rambus from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Evercore ISI began coverage on Rambus in a research report on Tuesday, February 4th. They set an “outperform” rating and a $71.00 price objective on the stock. Robert W. Baird set a $90.00 target price on Rambus in a report on Monday, February 3rd. Susquehanna upped their price target on Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a report on Tuesday, February 4th. Finally, Wells Fargo & Company increased their price target on Rambus from $62.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Rambus has a consensus rating of “Buy” and an average target price of $76.71.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. UMB Bank n.a. boosted its stake in Rambus by 554.9% in the fourth quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 455 shares in the last quarter. Orion Capital Management LLC purchased a new stake in shares of Rambus in the 4th quarter valued at about $37,000. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Rambus by 927.5% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 709 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 640 shares during the period. Quarry LP grew its stake in Rambus by 40.3% during the 3rd quarter. Quarry LP now owns 919 shares of the semiconductor company’s stock worth $39,000 after buying an additional 264 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position in Rambus by 379.1% during the fourth quarter. Farther Finance Advisors LLC now owns 1,126 shares of the semiconductor company’s stock worth $60,000 after buying an additional 891 shares during the period. 88.54% of the stock is owned by hedge funds and other institutional investors.

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.