Rambus, Inc. (NASDAQ:RMBS - Get Free Report) CEO Luc Seraphin sold 39,914 shares of the business's stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $98.63, for a total value of $3,936,717.82. Following the completion of the transaction, the chief executive officer directly owned 331,070 shares of the company's stock, valued at $32,653,434.10. The trade was a 10.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Rambus Trading Down 11.4%
Rambus stock opened at $87.59 on Wednesday. The firm has a market cap of $9.44 billion, a PE ratio of 41.51 and a beta of 1.55. Rambus, Inc. has a 12 month low of $40.12 and a 12 month high of $135.75. The stock's 50 day simple moving average is $102.60 and its two-hundred day simple moving average is $97.07.
Rambus (NASDAQ:RMBS - Get Free Report) last posted its 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 firm had revenue of $190.24 million during the quarter, compared to analysts' expectations of $188.21 million. On average, equities research analysts forecast that Rambus, Inc. will post 1.89 EPS for the current year.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on the stock. Evercore lowered their target price on shares of Rambus from $126.00 to $119.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 3rd. Cfra cut Rambus from a "hold" rating to a "moderate sell" rating in a research report on Monday, December 15th. Rosenblatt Securities reiterated a "buy" rating and set a $130.00 target price on shares of Rambus in a research report on Tuesday, February 3rd. William Blair began coverage on shares of Rambus in a research note on Thursday, January 22nd. They issued an "outperform" rating on the stock. Finally, Susquehanna reduced their price objective on shares of Rambus from $100.00 to $90.00 and set a "neutral" rating for the company in a research report on Tuesday, February 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $105.71.
Check Out Our Latest Research Report on RMBS
Hedge Funds Weigh In On Rambus
Hedge funds and other institutional investors have recently made changes to their positions in the company. Oak Grove Capital LLC increased its position in shares of Rambus by 1.3% during the fourth quarter. Oak Grove Capital LLC now owns 7,600 shares of the semiconductor company's stock worth $698,000 after purchasing an additional 100 shares in the last quarter. Northwestern Mutual Investment Management Company LLC boosted its stake in Rambus by 0.4% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 24,085 shares of the semiconductor company's stock worth $2,213,000 after purchasing an additional 103 shares during the last quarter. Krilogy Financial LLC boosted its stake in Rambus by 5.3% during the 4th quarter. Krilogy Financial LLC now owns 2,157 shares of the semiconductor company's stock worth $198,000 after purchasing an additional 108 shares during the last quarter. Ashton Thomas Private Wealth LLC grew its holdings in shares of Rambus by 3.3% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,445 shares of the semiconductor company's stock worth $317,000 after buying an additional 110 shares in the last quarter. Finally, Meeder Advisory Services Inc. raised its position in shares of Rambus by 3.0% in the fourth quarter. Meeder Advisory Services Inc. now owns 3,883 shares of the semiconductor company's stock valued at $357,000 after buying an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 88.54% of the company's stock.
About Rambus
(
Get Free Report)
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.
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