Xianzhi Sean Fan Sells 52,327 Shares of Rambus Inc. (NASDAQ:RMBS) Stock

Rambus Inc. (NASDAQ:RMBS) COO Xianzhi Sean Fan sold 52,327 shares of Rambus stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $68.02, for a total value of $3,559,282.54. Following the completion of the transaction, the chief operating officer now owns 93,841 shares in the company, valued at approximately $6,383,064.82. This represents a 35.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Rambus Stock Performance

Shares of RMBS traded down $2.26 during mid-day trading on Wednesday, reaching $66.33. The company had a trading volume of 1,390,572 shares, compared to its average volume of 1,050,171. The firm has a 50-day moving average price of $59.44 and a 200 day moving average price of $51.07. Rambus Inc. has a 52 week low of $37.42 and a 52 week high of $69.15. The company has a market capitalization of $7.07 billion, a price-to-earnings ratio of 39.96 and a beta of 1.26.

Wall Street Analyst Weigh In

RMBS has been the topic of a number of research analyst reports. Evercore ISI initiated coverage on Rambus in a report on Tuesday, February 4th. They set an “outperform” rating and a $71.00 price target on the stock. Susquehanna lifted their price objective on Rambus from $66.00 to $70.00 and gave the company a “positive” rating in a research report on Tuesday, February 4th. StockNews.com raised Rambus from a “hold” rating to a “buy” rating in a research report on Wednesday, February 5th. Robert W. Baird initiated coverage on Rambus in a research report on Monday, November 25th. They set an “outperform” rating and a $90.00 price objective on the stock. Finally, Rosenblatt Securities lifted their price objective on Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $77.29.

Institutional Trading of Rambus

A number of hedge funds have recently made changes to their positions in the stock. Orion Capital Management LLC bought a new stake in shares of Rambus in the 4th quarter worth approximately $37,000. Castleark Management LLC bought a new position in Rambus in the 4th quarter valued at approximately $7,395,000. PharVision Advisers LLC bought a new position in Rambus in the 4th quarter valued at approximately $253,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Rambus by 18.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 290,392 shares of the semiconductor company’s stock valued at $15,350,000 after buying an additional 45,967 shares during the last quarter. Finally, Vident Advisory LLC raised its stake in Rambus by 11.6% during the 4th quarter. Vident Advisory LLC now owns 73,714 shares of the semiconductor company’s stock valued at $3,897,000 after buying an additional 7,686 shares during the last quarter. 88.54% of the stock is owned by institutional investors.

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.