Rambus Inc. (NASDAQ:RMBS) Director Sells $307,985.60 in Stock

Rambus Inc. (NASDAQ:RMBS) Director Eric B. Stang sold 5,408 shares of Rambus stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $56.95, for a total value of $307,985.60. Following the completion of the sale, the director now directly owns 32,422 shares in the company, valued at $1,846,432.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Rambus Stock Down 0.7 %

NASDAQ RMBS traded down $0.37 during trading hours on Wednesday, hitting $55.97. 584,781 shares of the stock were exchanged, compared to its average volume of 1,557,792. The company has a market cap of $6.03 billion, a price-to-earnings ratio of 17.12 and a beta of 1.18. Rambus Inc. has a 12-month low of $46.89 and a 12-month high of $76.38. The stock has a 50-day moving average of $59.86 and a 200 day moving average of $62.48.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings data on Monday, April 29th. The semiconductor company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.14). The firm had revenue of $117.90 million during the quarter, compared to analyst estimates of $132.00 million. Rambus had a net margin of 78.14% and a return on equity of 16.99%. The business’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.35 EPS. On average, equities research analysts expect that Rambus Inc. will post 1.63 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on RMBS shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Rambus in a research note on Wednesday, March 13th. Wells Fargo & Company upped their price target on shares of Rambus from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, January 26th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $77.75.

Hedge Funds Weigh In On Rambus

A number of institutional investors have recently added to or reduced their stakes in the company. WCM Investment Management LLC grew its holdings in Rambus by 38.1% during the fourth quarter. WCM Investment Management LLC now owns 227,710 shares of the semiconductor company’s stock worth $15,621,000 after acquiring an additional 62,880 shares during the period. Raymond James & Associates lifted its position in shares of Rambus by 156.0% during the 4th quarter. Raymond James & Associates now owns 32,137 shares of the semiconductor company’s stock valued at $2,193,000 after acquiring an additional 19,582 shares during the last quarter. Retirement Systems of Alabama purchased a new position in Rambus in the 4th quarter worth about $9,190,000. DekaBank Deutsche Girozentrale lifted its stake in Rambus by 1,326.0% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 46,673 shares of the semiconductor company’s stock valued at $3,186,000 after buying an additional 43,400 shares in the last quarter. Finally, Mesirow Institutional Investment Management Inc. raised its holdings in shares of Rambus by 40.9% during the third quarter. Mesirow Institutional Investment Management Inc. now owns 240,656 shares of the semiconductor company’s stock valued at $13,426,000 after acquiring an additional 69,895 shares during the period. Institutional investors and hedge funds own 88.54% of the company’s stock.

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.