Insider Selling: Rambus (NASDAQ:RMBS) EVP Sells $5,751,174.66 in Stock

Rambus, Inc. (NASDAQ:RMBS) EVP Xianzhi Sean Fan sold 37,914 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $151.69, for a total value of $5,751,174.66. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Rambus Price Performance

Shares of RMBS opened at $148.02 on Friday. The business’s fifty day moving average price is $117.51 and its 200 day moving average price is $105.64. Rambus, Inc. has a 12-month low of $52.12 and a 12-month high of $161.80. The stock has a market capitalization of $16.01 billion, a PE ratio of 70.49 and a beta of 1.79.

Rambus (NASDAQ:RMBS) last posted its earnings results on Monday, April 27th. The semiconductor company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 17.41% and a net margin of 31.90%. As a group, research analysts anticipate that Rambus, Inc. will post 2.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Weiss Ratings cut Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, March 10th. Jefferies Financial Group lifted 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. Robert W. Baird cut 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. Wells Fargo & Company lifted their price objective on shares of Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Finally, Evercore restated an “outperform” rating and set a $172.00 price objective on shares of Rambus in a research note on Tuesday, April 28th. One investment 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $130.43.

Institutional Investors Weigh In On Rambus

A number of hedge funds and other institutional investors have recently modified their holdings of RMBS. Acumen Wealth Advisors LLC acquired a new position in Rambus during the fourth quarter worth about $25,000. Torren Management LLC acquired a new position in Rambus during the fourth quarter worth about $26,000. Spire Wealth Management grew its holdings in Rambus by 199.0% during the fourth quarter. Spire Wealth Management now owns 302 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 201 shares during the period. University of Texas Texas AM Investment Management Co. acquired a new position in Rambus during the fourth quarter worth about $28,000. Finally, IFP Advisors Inc grew its holdings in Rambus by 126.7% during the third quarter. IFP Advisors Inc now owns 442 shares of the semiconductor company’s stock worth $47,000 after acquiring an additional 247 shares during the period. 88.54% of the stock is currently owned by institutional investors.

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.