Rambus Inc. (NASDAQ:RMBS) Director Necip Sayiner Sells 4,625 Shares

Rambus Inc. (NASDAQ:RMBS) Director Necip Sayiner sold 4,625 shares of Rambus stock in a transaction dated 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 transaction, the director now owns 42,000 shares in the company, valued at $2,803,080. This trade represents a 9.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Rambus Stock Down 3.4 %

Rambus stock opened at $62.73 on Friday. 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 $6.69 billion, a price-to-earnings ratio of 37.79 and a beta of 1.26. The stock has a 50-day moving average price of $59.58 and a 200 day moving average price of $51.17.

Institutional Investors Weigh In On Rambus

A number of institutional investors and hedge funds have recently modified their holdings of RMBS. Price T Rowe Associates Inc. MD lifted its holdings in shares of Rambus by 442.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,449,128 shares of the semiconductor company’s stock worth $288,042,000 after purchasing an additional 4,445,146 shares during the period. Invesco Ltd. lifted its holdings in shares of Rambus by 72.1% during the fourth quarter. Invesco Ltd. now owns 4,999,748 shares of the semiconductor company’s stock worth $264,287,000 after purchasing an additional 2,093,953 shares during the period. Norges Bank acquired a new stake in shares of Rambus during the fourth quarter worth about $94,368,000. Assenagon Asset Management S.A. lifted its holdings in shares of Rambus by 339.3% during the third quarter. Assenagon Asset Management S.A. now owns 1,266,780 shares of the semiconductor company’s stock worth $53,483,000 after purchasing an additional 978,417 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Rambus during the fourth quarter worth about $51,500,000. Institutional investors and hedge funds own 88.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Evercore ISI assumed coverage on Rambus in a research note on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 target price on the stock. Baird R W upgraded Rambus to a “strong-buy” rating in a research note on Monday, November 25th. Susquehanna raised their price target on Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a report on Tuesday, February 4th. Robert W. Baird started coverage on Rambus in a report on Monday, November 25th. They issued an “outperform” rating and a $90.00 price target for the company. Finally, Loop Capital started coverage on Rambus in a report on Monday, November 11th. They issued a “buy” rating and a $70.00 price target for the company. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $77.29.

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.