Insider Selling: Rambus (NASDAQ:RMBS) Director Sells 5,000 Shares of Stock

Rambus, Inc. (NASDAQ:RMBS) Director Eric Stang sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $146.00, for a total value of $730,000.00. Following the transaction, the director directly owned 19,218 shares in the company, valued at $2,805,828. The trade was a 20.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Rambus Stock Up 13.1%

NASDAQ RMBS traded up $19.30 on Tuesday, reaching $166.78. The company had a trading volume of 3,302,479 shares, compared to its average volume of 2,462,785. The stock has a market capitalization of $18.04 billion, a P/E ratio of 79.42 and a beta of 1.84. The company’s fifty day moving average is $119.61 and its 200 day moving average is $106.19. Rambus, Inc. has a 52-week low of $54.05 and a 52-week high of $167.71.

Rambus (NASDAQ:RMBS) last released its quarterly earnings results on Monday, April 27th. The semiconductor company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. The business had revenue of $180.19 million during the quarter, compared to analyst estimates of $179.94 million. Rambus had a return on equity of 17.41% and a net margin of 31.90%. On average, research analysts expect that Rambus, Inc. will post 2.44 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on RMBS shares. Wells Fargo & Company increased their price target on Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Susquehanna lowered their price target on Rambus from $100.00 to $90.00 and set a “neutral” rating for the company in a research report on Tuesday, February 3rd. Weiss Ratings lowered Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, March 10th. Jefferies Financial Group raised their target price on Rambus from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Finally, Evercore reaffirmed an “outperform” rating and set a $172.00 target price on shares of Rambus 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 assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $130.43.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in RMBS. Baader Bank Aktiengesellschaft bought a new stake in shares of Rambus during the 3rd quarter valued at about $1,149,000. M&T Bank Corp boosted its position in shares of Rambus by 2,372.0% during the 4th quarter. M&T Bank Corp now owns 122,636 shares of the semiconductor company’s stock valued at $11,269,000 after acquiring an additional 117,675 shares during the last quarter. CloudAlpha Capital Management Limited Hong Kong bought a new stake in shares of Rambus during the 3rd quarter valued at about $17,276,000. Jackson Creek Investment Advisors LLC bought a new stake in shares of Rambus during the 3rd quarter valued at about $2,492,000. Finally, TD Asset Management Inc boosted its position in shares of Rambus by 463.6% during the 3rd quarter. TD Asset Management Inc now owns 25,306 shares of the semiconductor company’s stock valued at $2,637,000 after acquiring an additional 20,816 shares during the last quarter. Institutional investors own 88.54% of the company’s stock.

Rambus Company Profile

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.