Necip Sayiner Sells 5,000 Shares of Rambus (NASDAQ:RMBS) Stock

Rambus, Inc. (NASDAQ:RMBS) Director Necip Sayiner sold 5,000 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $170.15, for a total transaction of $850,750.00. Following the completion of the sale, the director owned 18,223 shares of the company’s stock, valued at approximately $3,100,643.45. This trade represents a 21.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Rambus Price Performance

RMBS stock opened at $169.35 on Friday. The company has a fifty day moving average price of $124.19 and a 200 day moving average price of $107.72. Rambus, Inc. has a 12 month low of $56.21 and a 12 month high of $174.10. The company has a market cap of $18.31 billion, a price-to-earnings ratio of 80.64 and a beta of 1.84.

Rambus (NASDAQ:RMBS) last released its quarterly earnings results on Monday, April 27th. The semiconductor company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.61 by $0.02. Rambus had a net margin of 31.90% and a return on equity of 17.41%. The firm had revenue of $180.19 million during the quarter, compared to the consensus estimate of $179.94 million. As a group, analysts anticipate that Rambus, Inc. will post 2.44 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Weiss Ratings downgraded shares of Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, March 10th. Rosenblatt Securities upped their price target on shares of Rambus from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Wells Fargo & Company upped their price target on shares of Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Jefferies Financial Group upped their price target on shares of Rambus from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Finally, Evercore restated an “outperform” rating and set a $172.00 price objective on shares of Rambus in a research report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $130.43.

Hedge Funds Weigh In On Rambus

Large investors have recently made changes to their positions in the stock. Acumen Wealth Advisors LLC purchased a new position in shares of Rambus in the 4th quarter valued at about $25,000. Torren Management LLC purchased a new position in shares of Rambus in the 4th quarter valued at about $26,000. Spire Wealth Management increased its holdings in shares of Rambus by 199.0% in the 4th quarter. Spire Wealth Management now owns 302 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 201 shares in the last quarter. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Rambus in the 4th quarter valued at about $28,000. Finally, Western Wealth Management LLC purchased a new position in shares of Rambus in the 1st quarter valued at about $44,000. Hedge funds and other institutional investors own 88.54% of the company’s stock.

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.