Key Points
- Rambus EVP Xianzhi Sean Fan sold 37,914 shares on May 26 at an average price of $151.69, for proceeds of about $5.75 million. After the sale, he still held 168,358 shares, and the transaction reduced his position by 18.38%.
- RMBS stock rose 10% and opened at $157.23, near its 52-week high of $161.80. The company now has a market cap of about $17 billion and a high valuation with a P/E ratio of 74.87.
- Rambus beat quarterly expectations, reporting EPS of $0.63 versus the $0.61 consensus and revenue of $180.19 million versus $179.94 million expected. Analysts currently rate the stock a consensus Moderate Buy with an average price target of $130.43.
Rambus, Inc. (NASDAQ:RMBS - Get Free Report) EVP Xianzhi Sean Fan sold 37,914 shares of the business's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $151.69, for a total value of $5,751,174.66. Following the completion of the transaction, the executive vice president owned 168,358 shares in the company, valued at $25,538,225.02. This trade represents a 18.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Rambus Stock Up 10.0%
Shares of RMBS stock opened at $157.23 on Wednesday. The stock has a market capitalization of $17.00 billion, a PE ratio of 74.87 and a beta of 1.79. Rambus, Inc. has a 52-week low of $52.12 and a 52-week high of $161.80. The stock's 50-day moving average price is $115.30 and its 200 day moving average price is $105.06.
Rambus (NASDAQ:RMBS - Get Free Report) last announced its quarterly earnings data on Monday, April 27th. The semiconductor company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.02. The company had revenue of $180.19 million for the quarter, compared to analysts' expectations of $179.94 million. Rambus had a net margin of 31.90% and a return on equity of 17.41%. Analysts expect that Rambus, Inc. will post 2.44 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Rambus
Institutional investors and hedge funds have recently made changes to their positions in the stock. Hussman Strategic Advisors Inc. acquired a new stake in shares of Rambus in the 3rd quarter worth approximately $1,094,000. Baader Bank Aktiengesellschaft purchased a new position in Rambus in the 3rd quarter valued at approximately $1,149,000. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in Rambus by 57.0% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 52,435 shares of the semiconductor company's stock valued at $5,464,000 after purchasing an additional 19,046 shares in the last quarter. M&T Bank Corp increased its stake in Rambus by 2,372.0% in the 4th quarter. M&T Bank Corp now owns 122,636 shares of the semiconductor company's stock valued at $11,269,000 after purchasing an additional 117,675 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Rambus by 1,320.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 129,676 shares of the semiconductor company's stock valued at $13,512,000 after purchasing an additional 120,549 shares in the last quarter. 88.54% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
RMBS has been the topic of several recent research reports. Rosenblatt Securities boosted their price objective on shares of Rambus from $130.00 to $150.00 and gave the company a "buy" rating in a research note on Tuesday, April 28th. Weiss Ratings cut Rambus from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, March 10th. Wells Fargo & Company boosted their target price on Rambus from $115.00 to $145.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 28th. Susquehanna dropped their target price on Rambus from $100.00 to $90.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 3rd. Finally, Jefferies Financial Group boosted their target price on Rambus from $120.00 to $145.00 and gave the stock a "buy" rating in a research report on Tuesday, April 28th. One equities research 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 data from MarketBeat, Rambus presently has a consensus rating of "Moderate Buy" and an average price target of $130.43.
Check Out Our Latest Report on RMBS
Rambus Company Profile
(
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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