Insider Selling: Rambus (NASDAQ:RMBS) Director Sells 5,000 Shares of Stock

Rambus, Inc. (NASDAQ:RMBS) Director Emiko Higashi sold 5,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $157.57, for a total value of $787,850.00. Following the transaction, the director owned 59,519 shares in the company, valued at $9,378,408.83. This trade represents a 7.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Rambus Price Performance

RMBS traded down $8.57 during trading hours on Wednesday, hitting $148.66. 2,635,733 shares of the stock were exchanged, compared to its average volume of 2,475,391. The stock has a 50-day simple moving average of $115.30 and a 200-day simple moving average of $105.06. Rambus, Inc. has a 12 month low of $52.12 and a 12 month high of $161.80. The stock has a market cap of $16.08 billion, a price-to-earnings ratio of 70.79 and a beta of 1.79.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings data on Monday, April 27th. The semiconductor company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.02. Rambus had a return on equity of 17.41% and a net margin of 31.90%.The firm had revenue of $180.19 million for the quarter, compared to analysts’ expectations of $179.94 million. Sell-side analysts expect that Rambus, Inc. will post 2.44 EPS for the current year.

Institutional Investors Weigh In On Rambus

A number of hedge funds have recently added to or reduced their stakes in RMBS. Invesco Ltd. lifted its stake in Rambus by 70.6% in the fourth quarter. Invesco Ltd. now owns 4,148,653 shares of the semiconductor company’s stock valued at $381,220,000 after buying an additional 1,716,621 shares during the last quarter. Norges Bank bought a new stake in Rambus in the fourth quarter valued at $156,356,000. Alliancebernstein L.P. lifted its stake in Rambus by 572.7% in the third quarter. Alliancebernstein L.P. now owns 1,822,030 shares of the semiconductor company’s stock valued at $189,856,000 after buying an additional 1,551,159 shares during the last quarter. Bank of America Corp DE lifted its stake in Rambus by 196.0% in the third quarter. Bank of America Corp DE now owns 1,550,665 shares of the semiconductor company’s stock valued at $161,579,000 after buying an additional 1,026,776 shares during the last quarter. Finally, Bessemer Group Inc. lifted its stake in Rambus by 1,009.5% in the first quarter. Bessemer Group Inc. now owns 1,039,905 shares of the semiconductor company’s stock valued at $89,463,000 after buying an additional 946,177 shares during the last quarter. 88.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RMBS shares. Evercore restated an “outperform” rating and set a $172.00 price objective on shares of Rambus in a research note on Tuesday, April 28th. Rosenblatt Securities raised their target price on Rambus from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Weiss Ratings cut Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, March 10th. Wells Fargo & Company raised their target price on Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Finally, Robert W. Baird cut Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 target price on the stock. in a research note on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $130.43.

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.