Rambus Inc. (NASDAQ:RMBS) CEO Luc Seraphin Sells 10,000 Shares

Rambus Inc. (NASDAQ:RMBS - Get Free Report) CEO Luc Seraphin sold 10,000 shares of the stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $47.79, for a total transaction of $477,900.00. Following the sale, the chief executive officer now directly owns 326,844 shares of the company's stock, valued at approximately $15,619,874.76. This trade represents a 2.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Tuesday, April 8th, Luc Seraphin sold 10,000 shares of Rambus stock. The shares were sold at an average price of $46.81, for a total transaction of $468,100.00.
• On Tuesday, April 1st, Luc Seraphin sold 10,000 shares of Rambus stock. The stock was sold at an average price of $50.88, for a total transaction of $508,800.00.
• On Tuesday, March 25th, Luc Seraphin sold 10,000 shares of Rambus stock. The stock was sold at an average price of $58.64, for a total value of $586,400.00.
• On Tuesday, March 18th, Luc Seraphin sold 10,000 shares of Rambus stock. The shares were sold at an average price of $53.79, for a total value of $537,900.00.

Rambus Trading Down 0.4 %

RMBS stock traded down $0.20 during mid-day trading on Friday, hitting $45.72. 739,112 shares of the company were exchanged, compared to its average volume of 1,305,734. The firm has a fifty day simple moving average of $53.99 and a 200 day simple moving average of $54.22. The company has a market capitalization of $4.91 billion, a PE ratio of 27.54 and a beta of 1.20. Rambus Inc. has a twelve month low of $37.43 and a twelve month high of $69.15.

Institutional Trading of Rambus

Hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC increased its holdings in shares of Rambus by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,621,342 shares of the semiconductor company's stock valued at $110,693,000 after acquiring an additional 21,053 shares during the last quarter. Coldstream Capital Management Inc. boosted its holdings in Rambus by 15.8% in the third quarter. Coldstream Capital Management Inc. now owns 5,285 shares of the semiconductor company's stock worth $223,000 after purchasing an additional 722 shares during the period. Virtu Financial LLC bought a new stake in Rambus during the third quarter valued at $407,000. Sanctuary Advisors LLC raised its holdings in shares of Rambus by 30.2% during the third quarter. Sanctuary Advisors LLC now owns 5,288 shares of the semiconductor company's stock worth $223,000 after purchasing an additional 1,228 shares during the period. Finally, World Investment Advisors LLC bought a new position in shares of Rambus in the 3rd quarter worth about $989,000. 88.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

RMBS has been the topic of several recent research reports. StockNews.com raised Rambus from a "hold" rating to a "buy" rating in a research report on Friday. Wells Fargo & Company boosted their target price on shares of Rambus from $62.00 to $73.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Rosenblatt Securities raised their price target on shares of Rambus from $85.00 to $92.00 and gave the company a "buy" rating in a report on Tuesday, February 4th. Evercore ISI began coverage on shares of Rambus in a report on Tuesday, February 4th. They issued an "outperform" rating and a $71.00 price objective on the stock. Finally, Susquehanna upped their price objective on shares of Rambus from $66.00 to $70.00 and gave the company a "positive" rating in a research report on Tuesday, February 4th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $76.71.

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.