Key Points
- Rambus CEO Luc Seraphin sold 5,426 shares on April 2 at an average price of $86.65 for $470,162.90, reducing his stake by 1.55% to 345,767 shares; the sale was executed under a pre-arranged Rule 10b5-1 trading plan.
- Seraphin also sold 39,914 shares on March 2 at $98.63 for about $3.94 million, indicating multiple insider dispositions in recent weeks.
- Rambus reported quarterly EPS of $0.68 (meeting estimates) and revenue of $190.24 million with a strong net margin (32.57%); analysts have a consensus "Moderate Buy" rating and an average target of $105.71.
Rambus, Inc. (NASDAQ:RMBS - Get Free Report) CEO Luc Seraphin sold 5,426 shares of Rambus stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $86.65, for a total transaction of $470,162.90. Following the sale, the chief executive officer owned 345,767 shares of the company's stock, valued at approximately $29,960,710.55. The trade was a 1.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Luc Seraphin also recently made the following trade(s):
- On Monday, March 2nd, Luc Seraphin sold 39,914 shares of Rambus stock. The stock was sold at an average price of $98.63, for a total value of $3,936,717.82.
Rambus Price Performance
NASDAQ RMBS opened at $93.03 on Friday. The business has a 50 day moving average price of $98.37 and a 200 day moving average price of $99.15. The company has a market capitalization of $10.06 billion, a P/E ratio of 44.09 and a beta of 1.63. Rambus, Inc. has a 1-year low of $40.12 and a 1-year high of $135.75.
Rambus (NASDAQ:RMBS - Get Free Report) last posted its earnings results on Monday, February 2nd. The semiconductor company reported $0.68 earnings per share for the quarter, meeting the consensus estimate of $0.68. Rambus had a return on equity of 17.69% and a net margin of 32.57%.The company had revenue of $190.24 million for the quarter, compared to analyst estimates of $188.21 million. On average, research analysts expect that Rambus, Inc. will post 1.89 earnings per share for the current fiscal year.
Institutional Trading of Rambus
A number of hedge funds have recently bought and sold shares of the company. Invesco Ltd. raised its holdings in Rambus by 70.6% in the 4th quarter. Invesco Ltd. now owns 4,148,653 shares of the semiconductor company's stock valued at $381,220,000 after acquiring an additional 1,716,621 shares during the last quarter. Norges Bank purchased a new stake in shares of Rambus in the fourth quarter valued at $156,356,000. EdgePoint Investment Group Inc. increased its stake in Rambus by 138.4% in the second quarter. EdgePoint Investment Group Inc. now owns 2,787,327 shares of the semiconductor company's stock valued at $178,445,000 after purchasing an additional 1,618,133 shares during the last quarter. Alliancebernstein L.P. increased its stake in Rambus by 572.7% in the third quarter. Alliancebernstein L.P. now owns 1,822,030 shares of the semiconductor company's stock valued at $189,856,000 after purchasing an additional 1,551,159 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in Rambus by 196.0% during the third quarter. Bank of America Corp DE now owns 1,550,665 shares of the semiconductor company's stock worth $161,579,000 after buying an additional 1,026,776 shares during the period. Institutional investors and hedge funds own 88.54% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on RMBS shares. Weiss Ratings cut shares of Rambus from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, March 10th. Evercore dropped their price objective on shares of Rambus from $126.00 to $119.00 and set an "outperform" rating for the company in a research note on Tuesday, February 3rd. Cfra downgraded Rambus from a "hold" rating to a "moderate sell" rating in a research report on Monday, December 15th. Susquehanna reduced their target price on Rambus from $100.00 to $90.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 3rd. Finally, Rosenblatt Securities reissued a "buy" rating and set a $130.00 price target on shares of Rambus in a research report on Tuesday, February 3rd. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $105.71.
Check Out Our Latest Report on RMBS
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.
Further Reading
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