Rambus Inc. (NASDAQ:RMBS – Get Free Report) CEO Luc Seraphin sold 15,000 shares of Rambus stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $61.35, for a total value of $920,250.00. Following the completion of the sale, the chief executive officer now directly owns 268,321 shares of the company’s stock, valued at approximately $16,461,493.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Luc Seraphin also recently made the following trade(s):
- On Tuesday, April 2nd, Luc Seraphin sold 15,000 shares of Rambus stock. The shares were sold at an average price of $59.93, for a total value of $898,950.00.
- On Tuesday, March 26th, Luc Seraphin sold 15,000 shares of Rambus stock. The shares were sold at an average price of $62.69, for a total value of $940,350.00.
- On Tuesday, March 19th, Luc Seraphin sold 15,000 shares of Rambus stock. The shares were sold at an average price of $58.35, for a total value of $875,250.00.
- On Tuesday, March 12th, Luc Seraphin sold 15,000 shares of Rambus stock. The shares were sold at an average price of $62.69, for a total value of $940,350.00.
- On Tuesday, March 5th, Luc Seraphin sold 15,000 shares of Rambus stock. The shares were sold at an average price of $62.17, for a total value of $932,550.00.
Rambus Price Performance
Shares of RMBS opened at $59.75 on Thursday. The stock’s 50-day moving average is $60.52 and its two-hundred day moving average is $62.46. The stock has a market cap of $6.49 billion, a PE ratio of 19.92 and a beta of 1.16. Rambus Inc. has a 12 month low of $43.58 and a 12 month high of $76.38.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of RMBS. American Century Companies Inc. acquired a new position in shares of Rambus in the first quarter worth about $230,000. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Rambus by 78.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,230 shares of the semiconductor company’s stock worth $518,000 after acquiring an additional 7,142 shares in the last quarter. MetLife Investment Management LLC lifted its stake in shares of Rambus by 56.5% in the first quarter. MetLife Investment Management LLC now owns 59,397 shares of the semiconductor company’s stock worth $1,894,000 after acquiring an additional 21,446 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Rambus by 0.3% in the first quarter. BlackRock Inc. now owns 17,199,468 shares of the semiconductor company’s stock worth $548,492,000 after acquiring an additional 47,422 shares in the last quarter. Finally, Cibc World Market Inc. acquired a new stake in Rambus during the first quarter valued at approximately $575,000. Institutional investors and hedge funds own 88.54% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on the company. Wells Fargo & Company boosted their price target on Rambus from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Rosenblatt Securities reissued a “buy” rating and set a $85.00 price target on shares of Rambus in a research report on Wednesday, March 13th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $73.20.
Get Our Latest Research Report on RMBS
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.
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