Rambus Inc. (NASDAQ:RMBS) SVP Sells $247,516.37 in Stock

Rambus Inc. (NASDAQ:RMBS) SVP John Shinn sold 3,947 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $62.71, for a total transaction of $247,516.37. Following the sale, the senior vice president now directly owns 16,663 shares in the company, valued at $1,044,936.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

John Shinn also recently made the following trade(s):

• On Tuesday, March 19th, John Shinn sold 3,949 shares of Rambus stock. The stock was sold at an average price of $58.84, for a total transaction of $232,359.16.
• On Tuesday, March 12th, John Shinn sold 3,889 shares of Rambus stock. The stock was sold at an average price of $62.68, for a total transaction of $243,762.52.
• On Thursday, March 7th, John Shinn sold 3,928 shares of Rambus stock. The shares were sold at an average price of $64.93, for a total transaction of $255,045.04.

Rambus Trading Up 1.6 %

NASDAQ:RMBS opened at $63.10 on Thursday. Rambus Inc. has a twelve month low of $43.19 and a twelve month high of $76.38. The company has a 50-day moving average of $62.64 and a 200-day moving average of $62.12. The firm has a market cap of $6.85 billion, a price-to-earnings ratio of 21.03 and a beta of 1.16.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings data on Monday, February 5th. The semiconductor company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. Rambus had a net margin of 72.41% and a return on equity of 17.70%. The company had revenue of $136.00 million during the quarter, compared to analyst estimates of $134.00 million. On average, research analysts forecast that Rambus Inc. will post 1.63 earnings per share for the current year.

Wall Street Analyst Weigh In

RMBS has been the subject of a number of recent analyst reports. Rosenblatt Securities reiterated a “buy” rating and issued a $85.00 target price on shares of Rambus in a research report on Wednesday, March 13th. Wells Fargo & Company increased their target price on shares of Rambus from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $73.20.

Institutional Trading of Rambus

A number of hedge funds have recently made changes to their positions in the stock. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Rambus in the fourth quarter worth approximately $10,260,000. Wellington Management Group LLP raised its position in Rambus by 120.4% during the fourth quarter. Wellington Management Group LLP now owns 3,933,923 shares of the semiconductor company’s stock valued at $268,490,000 after acquiring an additional 2,149,396 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Rambus by 18.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 858,444 shares of the semiconductor company’s stock valued at $58,589,000 after purchasing an additional 133,304 shares during the last quarter. American International Group Inc. grew its stake in shares of Rambus by 231.7% in the fourth quarter. American International Group Inc. now owns 198,577 shares of the semiconductor company’s stock worth $13,553,000 after acquiring an additional 138,714 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Rambus by 17.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 952,300 shares of the semiconductor company’s stock worth $64,996,000 after acquiring an additional 143,466 shares during the last quarter. 88.54% of the stock is owned by hedge funds and other institutional investors.

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.