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

Rambus Inc. (NASDAQ:RMBS) CEO Luc Seraphin sold 10,000 shares of the company’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $53.79, for a total transaction of $537,900.00. Following the completion of the sale, the chief executive officer now directly owns 316,931 shares of the company’s stock, valued at $17,047,718.49. The trade was a 3.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Rambus Stock Up 4.8 %

Shares of Rambus stock opened at $56.96 on Thursday. Rambus Inc. has a 12-month low of $37.43 and a 12-month high of $69.15. The firm has a market capitalization of $6.12 billion, a PE ratio of 34.31 and a beta of 1.25. The stock’s fifty day moving average is $59.55 and its 200-day moving average is $52.62.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Baird R W raised shares of Rambus to a “strong-buy” rating in a research note on Monday, November 25th. Susquehanna upped their target price on Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a research report on Tuesday, February 4th. Rosenblatt Securities lifted their price target on Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. StockNews.com lowered Rambus from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Finally, Robert W. Baird set a $90.00 target price on Rambus in a report on Monday, February 3rd. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $76.71.

Hedge Funds Weigh In On Rambus

A number of institutional investors have recently bought and sold shares of RMBS. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Rambus in the fourth quarter worth approximately $232,000. Orion Capital Management LLC acquired a new position in Rambus in the 4th quarter worth approximately $37,000. Castleark Management LLC acquired a new position in Rambus in the 4th quarter worth approximately $7,395,000. PharVision Advisers LLC purchased a new position in Rambus during the 4th quarter worth approximately $253,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Rambus by 18.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 290,392 shares of the semiconductor company’s stock valued at $15,350,000 after purchasing an additional 45,967 shares during the period. Hedge funds and other institutional investors own 88.54% of the company’s stock.

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.