Key Points
- Rambus director Necip Sayiner sold 5,000 shares on June 3 at an average price of $170.15, for total proceeds of $850,750. After the sale, he still owned 18,223 shares.
- The sale comes amid a strong stock run-up: RMBS opened at $170.66, near its 52-week high of $174.10, with the stock far above its 50-day and 200-day moving averages.
- Rambus has recently posted solid fundamentals and analyst support, beating quarterly EPS and revenue estimates, while analysts currently rate the stock a “Moderate Buy” with a consensus target price of $130.43.
Rambus, Inc. (NASDAQ:RMBS - Get Free Report) Director Necip Sayiner sold 5,000 shares of the business's stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $170.15, for a total transaction of $850,750.00. Following the sale, the director directly owned 18,223 shares in the company, valued at $3,100,643.45. The trade was a 21.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Rambus Price Performance
RMBS opened at $170.66 on Thursday. Rambus, Inc. has a fifty-two week low of $56.08 and a fifty-two week high of $174.10. The firm has a market capitalization of $18.46 billion, a price-to-earnings ratio of 81.27 and a beta of 1.84. The company's 50 day moving average price is $122.66 and its two-hundred day moving average price is $107.20.
Rambus (NASDAQ:RMBS - Get Free Report) last posted its earnings results on Monday, April 27th. The semiconductor company reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.02. Rambus had a net margin of 31.90% and a return on equity of 17.41%. The firm had revenue of $180.19 million for the quarter, compared to analyst estimates of $179.94 million. As a group, equities research analysts predict that Rambus, Inc. will post 2.44 EPS for the current year.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the business. Acumen Wealth Advisors LLC purchased a new stake in shares of Rambus in the fourth quarter valued at about $25,000. Torren Management LLC purchased a new position in shares of Rambus in the 4th quarter worth approximately $26,000. Spire Wealth Management boosted its stake in shares of Rambus by 199.0% in the 4th quarter. Spire Wealth Management now owns 302 shares of the semiconductor company's stock worth $28,000 after buying an additional 201 shares during the last quarter. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Rambus in the 4th quarter worth approximately $28,000. Finally, IFP Advisors Inc boosted its stake in shares of Rambus by 126.7% in the 3rd quarter. IFP Advisors Inc now owns 442 shares of the semiconductor company's stock worth $47,000 after buying an additional 247 shares during the last quarter. Institutional investors and hedge funds own 88.54% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on RMBS shares. Weiss Ratings lowered shares of Rambus from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, March 10th. Wells Fargo & Company boosted their target price on shares of Rambus from $115.00 to $145.00 and gave the stock an "overweight" rating in a report on Tuesday, April 28th. Robert W. Baird lowered shares of Rambus from an "outperform" rating to a "neutral" rating and set a $120.00 price objective on the stock. in a research note on Tuesday, April 28th. Jefferies Financial Group upped their price objective on shares of Rambus from $120.00 to $145.00 and gave the company a "buy" rating in a research note on Tuesday, April 28th. Finally, Rosenblatt Securities upped 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. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $130.43.
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Key Headlines Impacting Rambus
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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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