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

Rambus Inc. (NASDAQ:RMBS - Get Free Report) CEO Luc Seraphin sold 10,000 shares of Rambus stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $46.81, for a total value of $468,100.00. Following the transaction, the chief executive officer now owns 336,844 shares in the company, valued at $15,767,667.64. This represents a 2.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

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

Rambus Stock Up 1.7 %

Shares of NASDAQ:RMBS traded up $0.80 during mid-day trading on Friday, reaching $47.04. 992,130 shares of the stock were exchanged, compared to its average volume of 1,311,873. The stock's 50 day simple moving average is $56.03 and its 200-day simple moving average is $54.12. Rambus Inc. has a one year low of $37.43 and a one year high of $69.15. The company has a market cap of $5.05 billion, a P/E ratio of 28.34 and a beta of 1.20.

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Hedge Funds Weigh In On Rambus

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Rambus by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 12,594,979 shares of the semiconductor company's stock worth $665,771,000 after purchasing an additional 31,645 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Rambus by 442.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,449,128 shares of the semiconductor company's stock worth $288,042,000 after buying an additional 4,445,146 shares during the period. Invesco Ltd. grew its stake in Rambus by 72.1% in the 4th quarter. Invesco Ltd. now owns 4,999,748 shares of the semiconductor company's stock valued at $264,287,000 after buying an additional 2,093,953 shares during the last quarter. State Street Corp grew its stake in Rambus by 3.5% in the 3rd quarter. State Street Corp now owns 4,819,125 shares of the semiconductor company's stock valued at $203,463,000 after buying an additional 164,830 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Rambus by 1.7% in the 4th quarter. JPMorgan Chase & Co. now owns 4,184,370 shares of the semiconductor company's stock valued at $221,186,000 after acquiring an additional 68,975 shares during the period. 88.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RMBS. Wells Fargo & Company raised their price target on Rambus from $62.00 to $73.00 and gave the company an "overweight" rating in a research report on Tuesday, February 4th. Evercore ISI began coverage on Rambus in a research report on Tuesday, February 4th. They issued an "outperform" rating and a $71.00 price target on the stock. StockNews.com cut Rambus from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Susquehanna boosted their target price on shares of Rambus from $66.00 to $70.00 and gave the stock a "positive" rating in a research report on Tuesday, February 4th. Finally, Robert W. Baird set a $90.00 target price on shares of Rambus in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average 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.