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

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

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

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

Rambus Price Performance

NASDAQ:RMBS opened at $57.25 on Thursday. The company has a market capitalization of $6.22 billion, a PE ratio of 19.08 and a beta of 1.16. The firm’s 50-day moving average price is $60.01 and its 200-day moving average price is $62.62. Rambus Inc. has a 1-year low of $43.58 and a 1-year high of $76.38.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings results on Monday, February 5th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. The company had revenue of $136.00 million for the quarter, compared to analysts’ expectations of $134.00 million. Rambus had a net margin of 72.41% and a return on equity of 17.70%. Equities analysts anticipate that Rambus Inc. will post 1.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Rambus

A number of hedge funds have recently bought and sold shares of RMBS. American Century Companies Inc. bought a new position in Rambus in the 1st quarter worth about $230,000. Cambridge Investment Research Advisors Inc. lifted its stake in Rambus by 78.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 16,230 shares of the semiconductor company’s stock valued at $518,000 after acquiring an additional 7,142 shares during the period. MetLife Investment Management LLC lifted its stake in Rambus by 56.5% during the 1st quarter. MetLife Investment Management LLC now owns 59,397 shares of the semiconductor company’s stock valued at $1,894,000 after acquiring an additional 21,446 shares during the period. BlackRock Inc. lifted its stake in Rambus by 0.3% during the 1st quarter. BlackRock Inc. now owns 17,199,468 shares of the semiconductor company’s stock valued at $548,492,000 after acquiring an additional 47,422 shares during the period. Finally, Cibc World Market Inc. bought a new position in Rambus during the 1st quarter valued at about $575,000. 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.