Rambus Inc. (NASDAQ:RMBS - Get Free Report) Director Eric B. Stang sold 5,408 shares of the business's stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $56.95, for a total transaction of $307,985.60. Following the transaction, the director now owns 32,422 shares of the company's stock, valued at approximately $1,846,432.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Rambus Stock Performance
Shares of RMBS opened at $55.97 on Thursday. Rambus Inc. has a twelve month low of $46.89 and a twelve month high of $76.38. The firm's 50 day moving average price is $59.84 and its two-hundred day moving average price is $62.44. The firm has a market cap of $6.03 billion, a P/E ratio of 17.12 and a beta of 1.18.
Rambus (NASDAQ:RMBS - Get Free Report) last announced its quarterly earnings data on Monday, April 29th. The semiconductor company reported $0.30 EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.14). The business had revenue of $117.90 million during the quarter, compared to the consensus estimate of $132.00 million. Rambus had a return on equity of 16.99% and a net margin of 78.14%. The business's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.35 EPS. On average, sell-side analysts anticipate that Rambus Inc. will post 1.63 earnings per share for the current fiscal year.
Institutional Trading of Rambus
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A number of institutional investors have recently made changes to their positions in RMBS. JPMorgan Chase & Co. raised its position in Rambus by 14.8% during the third quarter. JPMorgan Chase & Co. now owns 4,794,327 shares of the semiconductor company's stock worth $267,476,000 after acquiring an additional 616,670 shares in the last quarter. Wellington Management Group LLP raised its position in Rambus by 120.4% during the fourth quarter. Wellington Management Group LLP now owns 3,933,923 shares of the semiconductor company's stock worth $268,490,000 after acquiring an additional 2,149,396 shares in the last quarter. Ameriprise Financial Inc. raised its position in Rambus by 19.7% during the third quarter. Ameriprise Financial Inc. now owns 3,134,868 shares of the semiconductor company's stock worth $174,893,000 after acquiring an additional 515,657 shares in the last quarter. Bank of New York Mellon Corp raised its position in Rambus by 6.1% during the first quarter. Bank of New York Mellon Corp now owns 2,307,798 shares of the semiconductor company's stock worth $142,645,000 after acquiring an additional 132,939 shares in the last quarter. Finally, Northern Trust Corp raised its position in Rambus by 0.4% during the third quarter. Northern Trust Corp now owns 1,515,278 shares of the semiconductor company's stock worth $84,537,000 after acquiring an additional 5,856 shares in the last quarter. Institutional investors own 88.54% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on RMBS shares. Wells Fargo & Company boosted their price objective on shares of Rambus from $80.00 to $85.00 and gave the company an "overweight" rating in a report on Friday, January 26th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $85.00 price target on shares of Rambus in a research note on Wednesday, March 13th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Rambus currently has a consensus rating of "Moderate Buy" and an average price target of $77.75.
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Rambus Company Profile
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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.
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