Rambus (NASDAQ:RMBS) Director Eric Stang Sells 5,000 Shares of Stock

Rambus, Inc. (NASDAQ:RMBS) Director Eric Stang sold 5,000 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $146.00, for a total value of $730,000.00. Following the completion of the sale, the director directly owned 19,218 shares of the company’s stock, valued at $2,805,828. The trade was a 20.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Rambus Trading Up 13.1%

NASDAQ RMBS opened at $166.78 on Wednesday. The firm has a market capitalization of $18.04 billion, a P/E ratio of 79.42 and a beta of 1.84. The business has a fifty day simple moving average of $119.61 and a 200 day simple moving average of $106.19. Rambus, Inc. has a 12 month low of $54.05 and a 12 month high of $167.71.

Rambus (NASDAQ:RMBS) last released its quarterly earnings results on Monday, April 27th. The semiconductor company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. The business had revenue of $180.19 million during the quarter, compared to analyst estimates of $179.94 million. Rambus had a return on equity of 17.41% and a net margin of 31.90%. As a group, sell-side analysts predict that Rambus, Inc. will post 2.44 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Weiss Ratings lowered Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, March 10th. Evercore reaffirmed an “outperform” rating and set a $172.00 target price on shares of Rambus in a research report on Tuesday, April 28th. Jefferies Financial Group raised their target price on Rambus from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Wells Fargo & Company raised their target price on Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Finally, Robert W. Baird lowered Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 target price for the company. in a research report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $130.43.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RMBS. Acumen Wealth Advisors LLC bought a new position in shares of Rambus during the 4th quarter worth $25,000. Torren Management LLC bought a new position in shares of Rambus during the 4th quarter worth $26,000. Spire Wealth Management grew its stake in shares of Rambus by 199.0% during the 4th quarter. Spire Wealth Management now owns 302 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 201 shares during the period. University of Texas Texas AM Investment Management Co. bought a new position in shares of Rambus during the 4th quarter worth $28,000. Finally, Western Wealth Management LLC bought a new position in shares of Rambus during the 1st quarter worth $44,000. Institutional investors own 88.54% of the company’s stock.

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.