Insider Selling: Rambus (NASDAQ:RMBS) CEO Sells 5,426 Shares of Stock
by Mitch Edgeman · The Markets DailyRambus, Inc. (NASDAQ:RMBS – Get Free Report) CEO Luc Seraphin sold 5,426 shares of Rambus stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $86.65, for a total transaction of $470,162.90. Following the completion of the sale, the chief executive officer owned 345,767 shares in the company, valued at approximately $29,960,710.55. This trade represents a 1.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Luc Seraphin also recently made the following trade(s):
- On Monday, March 2nd, Luc Seraphin sold 39,914 shares of Rambus stock. The stock was sold at an average price of $98.63, for a total transaction of $3,936,717.82.
Rambus Price Performance
Shares of NASDAQ:RMBS remained flat at $93.03 on Friday. 2,326,444 shares of the stock traded hands, compared to its average volume of 1,997,775. The stock’s 50-day moving average is $98.37 and its 200-day moving average is $99.15. Rambus, Inc. has a 12-month low of $40.12 and a 12-month high of $135.75. The company has a market cap of $10.06 billion, a price-to-earnings ratio of 44.09 and a beta of 1.63.
Rambus (NASDAQ:RMBS – Get Free Report) last announced its quarterly earnings results on Monday, February 2nd. The semiconductor company reported $0.68 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.68. Rambus had a net margin of 32.57% and a return on equity of 17.69%. The company had revenue of $190.24 million for the quarter, compared to analysts’ expectations of $188.21 million. As a group, research analysts forecast that Rambus, Inc. will post 1.89 EPS for the current fiscal year.
Analyst Ratings Changes
Several equities research analysts recently weighed in on RMBS shares. Cfra lowered Rambus from a “hold” rating to a “moderate sell” rating in a research report on Monday, December 15th. Rosenblatt Securities reissued a “buy” rating and set a $130.00 price objective on shares of Rambus in a research report on Tuesday, February 3rd. Susquehanna dropped their target price on shares of Rambus from $100.00 to $90.00 and set a “neutral” rating on the stock in a report on Tuesday, February 3rd. Zacks Research raised shares of Rambus to a “hold” rating in a research report on Monday, January 26th. Finally, Evercore decreased their price target on shares of Rambus from $126.00 to $119.00 and set an “outperform” rating for the company in a research note on Tuesday, February 3rd. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $105.71.
Read Our Latest Research Report on RMBS
Hedge Funds Weigh In On Rambus
Several institutional investors and hedge funds have recently modified their holdings of RMBS. Vanguard Group Inc. increased its stake in Rambus by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 12,701,773 shares of the semiconductor company’s stock valued at $1,323,525,000 after purchasing an additional 140,948 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Rambus by 2.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,385,570 shares of the semiconductor company’s stock valued at $494,881,000 after purchasing an additional 140,226 shares during the last quarter. Invesco Ltd. raised its position in Rambus by 70.6% in the fourth quarter. Invesco Ltd. now owns 4,148,653 shares of the semiconductor company’s stock worth $381,220,000 after acquiring an additional 1,716,621 shares during the period. Geode Capital Management LLC grew its holdings in Rambus by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 2,842,715 shares of the semiconductor company’s stock valued at $261,256,000 after purchasing an additional 94,214 shares during the period. Finally, EdgePoint Investment Group Inc. grew its holdings in Rambus by 138.4% during the second quarter. EdgePoint Investment Group Inc. now owns 2,787,327 shares of the semiconductor company’s stock valued at $178,445,000 after purchasing an additional 1,618,133 shares during the period. 88.54% of the stock is currently owned by institutional investors.
About Rambus
Rambus Inc is a technology licensing company specializing in semiconductor and system-level interface solutions. Founded in 1990 by Stanford University researchers Mike Farmwald and Mark Horowitz, Rambus established its headquarters in Sunnyvale, California. The company initially gained prominence by developing high-speed DRAM interface technology and securing a broad patent portfolio covering memory architecture, data signaling and power management innovations.
Today, Rambus licenses its proprietary intellectual property (IP) to semiconductor companies, original equipment manufacturers (OEMs) and system integrators worldwide.