Insider Selling: Rambus Inc. (NASDAQ:RMBS) CEO Sells 5,530 Shares of Stock

Rambus Inc. (NASDAQ:RMBS) CEO Luc Seraphin sold 5,530 shares of the stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $58.66, for a total value of $324,389.80. Following the completion of the sale, the chief executive officer now owns 262,791 shares of the company’s stock, valued at approximately $15,415,320.06. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Luc Seraphin also recently made the following trade(s):

• On Tuesday, April 9th, Luc Seraphin sold 15,000 shares of Rambus stock. The stock was sold at an average price of $61.35, for a total value of $920,250.00.
• On Tuesday, April 2nd, Luc Seraphin sold 15,000 shares of Rambus stock. The stock was sold at an average price of $59.93, for a total value of $898,950.00.
• On Tuesday, March 26th, Luc Seraphin sold 15,000 shares of Rambus stock. The stock was sold at an average price of $62.69, for a total value of $940,350.00.
• On Tuesday, March 19th, Luc Seraphin sold 15,000 shares of Rambus stock. The shares were sold at an average price of $58.35, for a total value of $875,250.00.
• On Tuesday, March 12th, Luc Seraphin sold 15,000 shares of Rambus stock. The shares were sold at an average price of $62.69, for a total value of $940,350.00.
• On Tuesday, March 5th, Luc Seraphin sold 15,000 shares of Rambus stock. The shares were sold at an average price of $62.17, for a total value of $932,550.00.

Rambus Stock Performance

NASDAQ RMBS traded down $1.50 during trading on Wednesday, hitting $57.22. The stock had a trading volume of 498,316 shares, compared to its average volume of 1,561,738. The stock has a market capitalization of $6.21 billion, a price-to-earnings ratio of 19.57 and a beta of 1.16. Rambus Inc. has a one year low of $43.58 and a one year high of $76.38. The stock has a 50 day simple moving average of $59.94 and a 200 day simple moving average of $62.65.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings data on Monday, February 5th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.03. The business had revenue of $136.00 million during the quarter, compared to the consensus estimate of $134.00 million. Rambus had a net margin of 72.41% and a return on equity of 17.70%. On average, sell-side analysts predict that Rambus Inc. will post 1.63 EPS for the current year.

Institutional Trading of Rambus

Several institutional investors have recently added to or reduced their stakes in RMBS. Rise Advisors LLC bought a new stake in Rambus in the first quarter worth about $28,000. Hollencrest Capital Management bought a new stake in shares of Rambus during the first quarter valued at approximately $28,000. West Tower Group LLC raised its stake in shares of Rambus by 194.4% during the fourth quarter. West Tower Group LLC now owns 418 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 276 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Rambus by 100.4% during the fourth quarter. Blue Trust Inc. now owns 447 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 224 shares in the last quarter. Finally, Altshuler Shaham Ltd bought a new stake in shares of Rambus during the fourth quarter valued at approximately $33,000. Institutional investors own 88.54% of the company’s stock.

Analyst Upgrades and Downgrades

RMBS has been the subject of several recent research reports. Wells Fargo & Company lifted their price target on Rambus from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Rosenblatt Securities reiterated a “buy” rating and issued a $85.00 price target on shares of Rambus in a research report on Wednesday, March 13th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Rambus has a consensus rating of “Moderate Buy” and a consensus target price of $73.20.

Rambus Company Profile

Rambus Inc provides semiconductor products in the United States, South Korea, Singapore, and internationally. The company offers DDR memory interface chips, including DDR5 and DDR4 memory interface chips to module manufacturers, OEMs, and hyperscalers; silicon IP, such as interface and security IP solutions that move and protect data in advanced data center, government, and automotive applications; and interface IP solutions for high-speed memory and chip-to-chip digital controller IP.