Rambus Inc. (NASDAQ:RMBS) Director Sells $308,672.50 in Stock

Rambus Inc. (NASDAQ:RMBS - Get Free Report) Director Necip Sayiner sold 4,625 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $66.74, for a total transaction of $308,672.50. Following the completion of the sale, the director now owns 42,000 shares in the company, valued at $2,803,080. This represents a 9.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Rambus Stock Down 3.4 %

NASDAQ:RMBS traded down $2.22 on Friday, reaching $62.73. The stock had a trading volume of 834,897 shares, compared to its average volume of 1,246,395. The company has a market capitalization of $6.69 billion, a P/E ratio of 37.79 and a beta of 1.26. Rambus Inc. has a 1-year low of $37.42 and a 1-year high of $69.15. The stock has a fifty day moving average price of $59.69 and a 200-day moving average price of $51.39.

Hedge Funds Weigh In On Rambus

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RMBS. Vaughan Nelson Investment Management L.P. increased its stake in Rambus by 32.3% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,462,932 shares of the semiconductor company's stock valued at $61,765,000 after purchasing an additional 357,160 shares in the last quarter. SG Americas Securities LLC increased its stake in Rambus by 1,657.4% in the fourth quarter. SG Americas Securities LLC now owns 552,173 shares of the semiconductor company's stock valued at $29,188,000 after purchasing an additional 520,754 shares in the last quarter. World Investment Advisors LLC bought a new stake in Rambus in the third quarter valued at approximately $989,000. Campbell Newman Asset Management Inc. increased its stake in Rambus by 72.2% in the fourth quarter. Campbell Newman Asset Management Inc. now owns 39,046 shares of the semiconductor company's stock valued at $2,064,000 after purchasing an additional 16,376 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Rambus in the third quarter valued at approximately $2,077,000. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Robert W. Baird set a $90.00 target price on shares of Rambus in a research report on Monday, February 3rd. Susquehanna lifted their target price 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. Rosenblatt Securities lifted their target price on shares of Rambus from $85.00 to $92.00 and gave the company a "buy" rating in a research report on Tuesday, February 4th. Evercore ISI assumed coverage on shares of Rambus in a research report on Tuesday, February 4th. They set an "outperform" rating and a $71.00 target price on the stock. Finally, StockNews.com upgraded shares of Rambus from a "hold" rating to a "buy" rating in a research report on Wednesday, February 5th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, 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.