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 that occurred on Tuesday, April 15th. The stock was sold at an average price of $47.79, for a total value of $477,900.00. Following the transaction, the chief executive officer now owns 326,844 shares in the company, valued at $15,619,874.76. This trade represents a 2.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Tuesday, April 8th, Luc Seraphin sold 10,000 shares of Rambus stock. The shares were sold at an average price of $46.81, for a total value of $468,100.00.
• On Tuesday, April 1st, Luc Seraphin sold 10,000 shares of Rambus stock. The stock was sold at an average price of $50.88, for a total value 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 stock was sold at an average price of $53.79, for a total transaction of $537,900.00.

Rambus Stock Down 3.3 %

RMBS traded down $1.55 during midday trading on Wednesday, hitting $45.92. 1,084,803 shares of the company traded hands, compared to its average volume of 1,307,619. The company’s 50-day moving average is $55.22 and its 200 day moving average is $54.11. The firm has a market capitalization of $4.93 billion, a PE ratio of 27.66 and a beta of 1.20. Rambus Inc. has a 52 week low of $37.43 and a 52 week high of $69.15.

Institutional Investors Weigh In On Rambus

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC increased its position in Rambus by 57.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,912 shares of the semiconductor company’s stock valued at $358,000 after acquiring an additional 2,522 shares during the last quarter. Greenwood Capital Associates LLC lifted its stake in shares of Rambus by 54.0% in the 1st quarter. Greenwood Capital Associates LLC now owns 10,402 shares of the semiconductor company’s stock worth $539,000 after purchasing an additional 3,648 shares during the period. Fifth Third Bancorp boosted its holdings in shares of Rambus by 24.8% in the first quarter. Fifth Third Bancorp now owns 1,418 shares of the semiconductor company’s stock worth $73,000 after buying an additional 282 shares during the last quarter. Integrated Advisors Network LLC bought a new stake in Rambus during the first quarter valued at approximately $484,000. Finally, Fiduciary Financial Group LLC purchased a new stake in Rambus during the first quarter valued at approximately $285,000. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Wells Fargo & Company raised their target price on shares of Rambus from $62.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Evercore ISI began coverage on Rambus in a research note on Tuesday, February 4th. They set an “outperform” rating and a $71.00 price objective for the company. Rosenblatt Securities boosted their target price on Rambus from $85.00 to $92.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Robert W. Baird set a $90.00 price target on Rambus in a report on Monday, February 3rd. Finally, Susquehanna upped their price target on shares of Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $76.71.

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.