Insider Selling: Rambus Inc. (NASDAQ:RMBS) CEO Sells $586,400.00 in Stock

Rambus Inc. (NASDAQ:RMBS) CEO Luc Seraphin sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $58.64, for a total value of $586,400.00. Following the completion of the sale, the chief executive officer now owns 306,931 shares of the company’s stock, valued at approximately $17,998,433.84. This trade represents a 3.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• 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 Price Performance

Shares of NASDAQ RMBS opened at $53.70 on Friday. The firm has a market cap of $5.77 billion, a PE ratio of 32.35 and a beta of 1.25. The company has a 50 day simple moving average of $59.37 and a 200 day simple moving average of $53.33. Rambus Inc. has a 1 year low of $37.43 and a 1 year high of $69.15.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Rambus by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 12,594,979 shares of the semiconductor company’s stock worth $665,771,000 after acquiring an additional 31,645 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Rambus by 442.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,449,128 shares of the semiconductor company’s stock worth $288,042,000 after purchasing an additional 4,445,146 shares during the last quarter. Invesco Ltd. lifted its position in shares of Rambus by 72.1% in the 4th quarter. Invesco Ltd. now owns 4,999,748 shares of the semiconductor company’s stock worth $264,287,000 after purchasing an additional 2,093,953 shares during the period. State Street Corp boosted its stake in shares of Rambus by 3.5% in the 3rd quarter. State Street Corp now owns 4,819,125 shares of the semiconductor company’s stock valued at $203,463,000 after purchasing an additional 164,830 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Rambus by 1.7% during the fourth quarter. JPMorgan Chase & Co. now owns 4,184,370 shares of the semiconductor company’s stock worth $221,186,000 after buying an additional 68,975 shares during the period. 88.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

RMBS has been the subject of several analyst reports. StockNews.com cut shares of Rambus from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Susquehanna upped their target price on Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a research note on Tuesday, February 4th. Evercore ISI began coverage on Rambus in a research note on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 price target on the stock. Rosenblatt Securities upped their price objective on Rambus from $85.00 to $92.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Finally, Wells Fargo & Company lifted their target price on Rambus from $62.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $76.71.

About Rambus

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.