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 Friday, November 7th. The shares were sold at an average price of $102.35, for a total transaction of $511,750.00. Following the sale, the director directly owned 24,394 shares of the company’s stock, valued at approximately $2,496,725.90. This represents a 17.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Rambus Stock Down 2.6%

RMBS traded down $2.72 during midday trading on Wednesday, reaching $102.21. The company had a trading volume of 1,766,564 shares, compared to its average volume of 1,368,910. The business has a 50-day moving average of $98.02 and a two-hundred day moving average of $75.48. Rambus, Inc. has a 1 year low of $40.12 and a 1 year high of $114.55. The company has a market cap of $11.00 billion, a P/E ratio of 48.44 and a beta of 1.47.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Susquehanna set a $100.00 price objective on shares of Rambus and gave the stock a “neutral” rating in a research note on Monday, October 6th. Rosenblatt Securities reissued a “buy” rating and set a $130.00 price target on shares of Rambus in a report on Tuesday, October 28th. Jefferies Financial Group raised Rambus to a “strong-buy” rating in a research note on Tuesday, October 28th. Wall Street Zen cut shares of Rambus from a “buy” rating to a “hold” rating in a research report on Sunday, August 10th. Finally, Arete raised Rambus from a “neutral” rating to a “buy” rating and set a $91.00 price target for the company in a research note on Thursday, August 28th. Three investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $108.14.

Institutional Trading of Rambus

Hedge funds and other institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its holdings in shares of Rambus by 60.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,746,856 shares of the semiconductor company’s stock worth $452,870,000 after buying an additional 3,297,728 shares during the last quarter. Norges Bank purchased a new position in Rambus in the 2nd quarter worth $126,268,000. EdgePoint Investment Group Inc. lifted its position in Rambus by 138.4% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 2,787,327 shares of the semiconductor company’s stock worth $178,445,000 after acquiring an additional 1,618,133 shares during the period. Nuveen LLC acquired a new stake in Rambus during the 1st quarter worth about $57,084,000. Finally, Rafferty Asset Management LLC purchased a new stake in Rambus during the 3rd quarter valued at about $93,962,000. Hedge funds and other institutional investors own 88.54% of the company’s stock.

About Rambus

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.