Rambus Inc. (NASDAQ:RMBS) Director Sells $308,672.50 in Stock

Rambus Inc. (NASDAQ:RMBS) Director Necip Sayiner sold 4,625 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $66.74, for a total value of $308,672.50. Following the completion of the sale, the director now owns 42,000 shares of the company’s stock, valued at approximately $2,803,080. This trade represents a 9.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Rambus Stock Down 3.3 %

NASDAQ:RMBS opened at $66.33 on Thursday. Rambus Inc. has a 12-month low of $37.42 and a 12-month high of $69.15. The stock’s fifty day simple moving average is $59.44 and its 200-day simple moving average is $51.07. The firm has a market capitalization of $7.07 billion, a P/E ratio of 39.96 and a beta of 1.26.

Hedge Funds Weigh In On Rambus

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. UMB Bank n.a. raised its position in shares of Rambus by 554.9% in the 4th quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 455 shares during the period. Orion Capital Management LLC bought a new stake in Rambus in the fourth quarter valued at approximately $37,000. Skandinaviska Enskilda Banken AB publ raised its holdings in Rambus by 927.5% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 709 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 640 shares during the period. Quarry LP boosted its position in shares of Rambus by 40.3% during the third quarter. Quarry LP now owns 919 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 264 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in shares of Rambus by 379.1% in the 4th quarter. Farther Finance Advisors LLC now owns 1,126 shares of the semiconductor company’s stock valued at $60,000 after buying an additional 891 shares during the period. Institutional investors own 88.54% of the company’s stock.

Analyst Ratings Changes

RMBS has been the subject of several research reports. Rosenblatt Securities raised their price objective on shares of Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. StockNews.com raised shares of Rambus from a “hold” rating to a “buy” rating in a report on Wednesday, February 5th. Susquehanna upped their price objective on Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a report on Tuesday, February 4th. Loop Capital started coverage on Rambus in a research note on Monday, November 11th. They issued a “buy” rating and a $70.00 target price for the company. Finally, Evercore ISI initiated coverage on Rambus in a research report on Tuesday, February 4th. They set an “outperform” rating and a $71.00 target price for the company. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Rambus has an average rating of “Buy” and an average price target of $77.29.

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.