Rambus Inc. (NASDAQ:RMBS) CEO Luc Seraphin Sells 6,348 Shares

Rambus Inc. (NASDAQ:RMBS) CEO Luc Seraphin sold 6,348 shares of the firm’s stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $46.97, for a total transaction of $298,165.56. Following the sale, the chief executive officer now directly owns 319,241 shares in the company, valued at approximately $14,994,749.77. The trade was a 1.95 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, April 15th, Luc Seraphin sold 10,000 shares of Rambus stock. The stock was sold at an average price of $47.79, for a total transaction of $477,900.00.
• On Tuesday, April 8th, Luc Seraphin sold 10,000 shares of Rambus stock. The shares were 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 stock was sold at an average price of $50.88, for a total value of $508,800.00.
• On Tuesday, March 25th, Luc Seraphin sold 10,000 shares of Rambus stock. The shares were sold at an average price of $58.64, for a total value of $586,400.00.
• On Tuesday, March 18th, Luc Seraphin sold 10,000 shares of Rambus stock. The stock was sold at an average price of $53.79, for a total transaction of $537,900.00.

Rambus Price Performance

RMBS stock opened at $49.36 on Friday. The company has a market capitalization of $5.30 billion, a price-to-earnings ratio of 29.73 and a beta of 1.20. Rambus Inc. has a 1-year low of $37.43 and a 1-year high of $69.15. The business has a 50 day simple moving average of $52.63 and a two-hundred day simple moving average of $54.26.

Hedge Funds Weigh In On Rambus

Several institutional investors have recently bought and sold shares of RMBS. Tsfg LLC purchased a new position in shares of Rambus during the first quarter valued at about $26,000. UMB Bank n.a. grew its holdings in Rambus by 554.9% during the 4th quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 455 shares in the last quarter. Orion Capital Management LLC bought a new stake in Rambus in the 4th quarter worth approximately $37,000. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Rambus by 927.5% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 709 shares of the semiconductor company’s stock worth $38,000 after acquiring an additional 640 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its position in shares of Rambus by 379.1% during the 4th quarter. Farther Finance Advisors LLC now owns 1,126 shares of the semiconductor company’s stock valued at $60,000 after acquiring an additional 891 shares during the last quarter. 88.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on RMBS. Wells Fargo & Company upped their target price on shares of Rambus from $62.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Susquehanna upped their price objective on Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a research note on Tuesday, February 4th. Robert W. Baird set a $90.00 target price on Rambus in a research report on Monday, February 3rd. Evercore ISI began coverage on Rambus in a research report on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 price target for the company. Finally, Rosenblatt Securities lifted their price objective on Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Rambus has an average rating of “Buy” and a consensus price target of $76.71.

Rambus Company Profile

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.