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 that occurred on Tuesday, April 8th. The stock was sold at an average price of $46.81, for a total transaction of $468,100.00. Following the sale, the chief executive officer now directly owns 336,844 shares of the company’s stock, valued at approximately $15,767,667.64. This trade represents a 2.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, April 1st, Luc Seraphin sold 10,000 shares of Rambus stock. The shares were sold at an average price of $50.88, for a total transaction of $508,800.00.
• 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 transaction of $586,400.00.
• On Tuesday, March 18th, Luc Seraphin sold 10,000 shares of Rambus stock. The shares were sold at an average price of $53.79, for a total transaction of $537,900.00.

Rambus Trading Up 21.9 %

RMBS opened at $52.29 on Thursday. The company’s 50 day moving average is $56.66 and its 200-day moving average is $53.93. Rambus Inc. has a 1-year low of $37.43 and a 1-year high of $69.15. The company has a market cap of $5.62 billion, a P/E ratio of 31.50 and a beta of 1.20.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RMBS. Price T Rowe Associates Inc. MD raised its holdings in Rambus by 442.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,449,128 shares of the semiconductor company’s stock valued at $288,042,000 after buying an additional 4,445,146 shares during the last quarter. Invesco Ltd. raised its holdings in Rambus by 72.1% in the 4th quarter. Invesco Ltd. now owns 4,999,748 shares of the semiconductor company’s stock valued at $264,287,000 after buying an additional 2,093,953 shares during the last quarter. Norges Bank bought a new position in Rambus in the 4th quarter valued at approximately $94,368,000. Raymond James Financial Inc. bought a new position in Rambus during the 4th quarter worth approximately $51,500,000. Finally, Congress Asset Management Co. bought a new position in Rambus during the 4th quarter worth approximately $45,778,000. Institutional investors own 88.54% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Evercore ISI assumed coverage on shares of Rambus in a report on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 price target for the company. StockNews.com cut shares of Rambus from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Wells Fargo & Company upped their price target on shares of Rambus from $62.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Rosenblatt Securities upped their price target on shares of Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Finally, Susquehanna upped their price target on shares of Rambus from $66.00 to $70.00 and gave the company a “positive” rating in a report on Tuesday, February 4th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price 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.