Luc Seraphin Sells 5,530 Shares of Rambus Inc. (NASDAQ:RMBS) Stock

Rambus Inc. (NASDAQ:RMBS) CEO Luc Seraphin sold 5,530 shares of the company’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $58.66, for a total transaction of $324,389.80. Following the transaction, the chief executive officer now directly owns 262,791 shares in the company, valued at $15,415,320.06. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, April 9th, Luc Seraphin sold 15,000 shares of Rambus stock. The shares were sold at an average price of $61.35, for a total transaction of $920,250.00.
• On Tuesday, April 2nd, Luc Seraphin sold 15,000 shares of Rambus stock. The shares were sold at an average price of $59.93, for a total transaction of $898,950.00.
• On Tuesday, March 26th, Luc Seraphin sold 15,000 shares of Rambus stock. The shares were sold at an average price of $62.69, for a total transaction of $940,350.00.
• On Tuesday, March 19th, Luc Seraphin sold 15,000 shares of Rambus stock. The shares were sold at an average price of $58.35, for a total transaction of $875,250.00.
• On Tuesday, March 12th, Luc Seraphin sold 15,000 shares of Rambus stock. The shares were sold at an average price of $62.69, for a total transaction of $940,350.00.
• On Tuesday, March 5th, Luc Seraphin sold 15,000 shares of Rambus stock. The shares were sold at an average price of $62.17, for a total transaction of $932,550.00.

Rambus Price Performance

Rambus stock opened at $56.46 on Friday. The stock has a market capitalization of $6.13 billion, a P/E ratio of 18.82 and a beta of 1.16. Rambus Inc. has a 12-month low of $43.58 and a 12-month high of $76.38. The firm’s 50-day moving average is $60.02 and its two-hundred day moving average is $62.57.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings data on Monday, February 5th. The semiconductor company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.03. The business had revenue of $136.00 million for the quarter, compared to analyst estimates of $134.00 million. Rambus had a net margin of 72.41% and a return on equity of 17.70%. As a group, analysts forecast that Rambus Inc. will post 1.63 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of RMBS. JPMorgan Chase & Co. lifted its holdings in shares of Rambus by 787.6% during the 1st quarter. JPMorgan Chase & Co. now owns 3,756,514 shares of the semiconductor company’s stock worth $192,560,000 after acquiring an additional 3,333,307 shares during the period. Wellington Management Group LLP raised its holdings in Rambus by 120.4% in the fourth quarter. Wellington Management Group LLP now owns 3,933,923 shares of the semiconductor company’s stock valued at $268,490,000 after buying an additional 2,149,396 shares during the period. Norges Bank purchased a new position in Rambus in the fourth quarter valued at approximately $84,756,000. Captrust Financial Advisors raised its holdings in Rambus by 357.1% in the fourth quarter. Captrust Financial Advisors now owns 1,288,667 shares of the semiconductor company’s stock valued at $46,188,000 after buying an additional 1,006,772 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Rambus by 76.5% in the third quarter. Bank of New York Mellon Corp now owns 1,987,653 shares of the semiconductor company’s stock valued at $110,891,000 after buying an additional 861,427 shares during the period. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Wells Fargo & Company raised their price target on shares of Rambus from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 price target on shares of Rambus in a research note on Wednesday, March 13th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $73.20.

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.