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 directly owns 326,844 shares of the company’s stock, valued at approximately $15,619,874.76. This trade represents a 2.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, April 8th, Luc Seraphin sold 10,000 shares of Rambus stock. The stock was sold at an average price of $46.81, for a total transaction of $468,100.00.
• On Tuesday, April 1st, Luc Seraphin sold 10,000 shares of Rambus stock. The shares were sold at an average price of $50.88, for a total transaction of $508,800.00.
• On Tuesday, March 25th, Luc Seraphin sold 10,000 shares of Rambus stock. The stock was 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 shares were sold at an average price of $53.79, for a total value of $537,900.00.

Rambus Stock Performance

Shares of RMBS opened at $45.72 on Friday. The firm has a market cap of $4.91 billion, a P/E ratio of 27.54 and a beta of 1.20. Rambus Inc. has a 52 week low of $37.43 and a 52 week high of $69.15. The firm’s 50-day simple moving average is $54.37 and its 200 day simple moving average is $54.08.

Hedge Funds Weigh In On Rambus

Several institutional investors and hedge funds have recently made changes to their positions in RMBS. Geode Capital Management LLC grew its holdings in Rambus by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,621,342 shares of the semiconductor company’s stock valued at $110,693,000 after buying an additional 21,053 shares in the last quarter. Coldstream Capital Management Inc. grew its stake in shares of Rambus by 15.8% in the third quarter. Coldstream Capital Management Inc. now owns 5,285 shares of the semiconductor company’s stock valued at $223,000 after acquiring an additional 722 shares in the last quarter. Virtu Financial LLC bought a new position in Rambus during the third quarter worth about $407,000. Sanctuary Advisors LLC raised its stake in Rambus by 30.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 5,288 shares of the semiconductor company’s stock worth $223,000 after purchasing an additional 1,228 shares in the last quarter. Finally, World Investment Advisors LLC bought a new stake in Rambus in the 3rd quarter valued at about $989,000. Institutional investors and hedge funds own 88.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Robert W. Baird set a $90.00 price target on Rambus in a research note on Monday, February 3rd. Rosenblatt Securities raised their target price on shares of Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. StockNews.com lowered shares of Rambus from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Susquehanna lifted their price objective on shares of Rambus from $66.00 to $70.00 and gave the company a “positive” rating in a research report on Tuesday, February 4th. Finally, Evercore ISI began coverage on shares of Rambus in a report on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 target price on the stock. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Rambus currently has a consensus rating of “Buy” and an average target price of $76.71.

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.