Rambus Inc. (NASDAQ:RMBS) COO Sells $3,559,282.54 in Stock

Rambus Inc. (NASDAQ:RMBS - Get Free Report) COO Xianzhi Sean Fan sold 52,327 shares of Rambus stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $68.02, for a total value of $3,559,282.54. Following the transaction, the chief operating officer now directly owns 93,841 shares of the company's stock, valued at $6,383,064.82. The trade was a 35.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Rambus Trading Down 3.4 %

RMBS stock traded down $2.22 during midday trading on Friday, hitting $62.73. The company had a trading volume of 834,897 shares, compared to its average volume of 1,246,395. Rambus Inc. has a 52 week low of $37.42 and a 52 week high of $69.15. The stock's 50 day moving average price is $59.69 and its 200 day moving average price is $51.39. The stock has a market cap of $6.69 billion, a price-to-earnings ratio of 37.79 and a beta of 1.26.

Analyst Upgrades and Downgrades

RMBS has been the subject of a number of recent analyst reports. Baird R W raised Rambus to a "strong-buy" rating in a report on Monday, November 25th. StockNews.com raised Rambus from a "hold" rating to a "buy" rating in a report on Wednesday, February 5th. Loop Capital started coverage on Rambus in a report on Monday, November 11th. They set a "buy" rating and a $70.00 price objective for the company. Susquehanna upped their target price on Rambus from $66.00 to $70.00 and gave the stock a "positive" rating in a research note on Tuesday, February 4th. Finally, Robert W. Baird set a $90.00 target price on Rambus in a research note on Monday, February 3rd. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $76.71.

Institutional Trading of Rambus

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Rambus by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 12,594,979 shares of the semiconductor company's stock valued at $665,771,000 after acquiring an additional 31,645 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Rambus by 442.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,449,128 shares of the semiconductor company's stock valued at $288,042,000 after acquiring an additional 4,445,146 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Rambus by 72.1% during the fourth quarter. Invesco Ltd. now owns 4,999,748 shares of the semiconductor company's stock valued at $264,287,000 after acquiring an additional 2,093,953 shares in the last quarter. State Street Corp raised its holdings in shares of Rambus by 3.5% during the third quarter. State Street Corp now owns 4,819,125 shares of the semiconductor company's stock valued at $203,463,000 after acquiring an additional 164,830 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Rambus by 1.7% during the fourth 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 in the last quarter. 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.