Insider Selling: Rambus Inc. (NASDAQ:RMBS) Director Sells 5,408 Shares of Stock

Rambus Inc. (NASDAQ:RMBS - Get Free Report) Director Meera Rao sold 5,408 shares of the company's stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $58.22, for a total value of $314,853.76. Following the completion of the transaction, the director now directly owns 29,090 shares of the company's stock, valued at approximately $1,693,619.80. This trade represents a 15.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Rambus Trading Down 1.2 %

Shares of NASDAQ:RMBS traded down $0.69 during trading on Friday, reaching $57.41. The company's stock had a trading volume of 1,238,606 shares, compared to its average volume of 1,491,590. The stock has a market capitalization of $6.12 billion, a PE ratio of 35.66 and a beta of 1.22. Rambus Inc. has a 12 month low of $37.42 and a 12 month high of $76.38. The firm's 50 day simple moving average is $51.12 and its two-hundred day simple moving average is $50.42.

Institutional Investors Weigh In On Rambus

Several institutional investors have recently modified their holdings of the stock. Quarry LP purchased a new position in shares of Rambus during the 2nd quarter worth about $38,000. Fifth Third Bancorp boosted its position in shares of Rambus by 68.7% during the second quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company's stock valued at $43,000 after buying an additional 296 shares during the period. Blue Trust Inc. raised its holdings in shares of Rambus by 240.6% in the second quarter. Blue Trust Inc. now owns 1,141 shares of the semiconductor company's stock worth $71,000 after buying an additional 806 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Rambus in the second quarter worth approximately $87,000. Finally, GAMMA Investing LLC lifted its stake in shares of Rambus by 207.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,623 shares of the semiconductor company's stock worth $111,000 after acquiring an additional 1,769 shares during the last quarter. 88.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RMBS. Baird R W raised shares of Rambus to a "strong-buy" rating in a report on Monday, November 25th. Wells Fargo & Company began coverage on shares of Rambus in a research note on Wednesday, November 6th. They issued an "overweight" rating and a $62.00 price target on the stock. Loop Capital began coverage on Rambus in a research report on Monday, November 11th. They set a "buy" rating and a $70.00 price objective for the company. Robert W. Baird began coverage on Rambus in a research report on Monday, November 25th. They issued an "outperform" rating and a $90.00 target price on the stock. Finally, Rosenblatt Securities reissued a "buy" rating and set a $85.00 price target on shares of Rambus in a research note on Tuesday, October 29th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Rambus currently has an average rating of "Buy" and an average price target of $74.67.

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.