Rambus Inc. (NASDAQ:RMBS) Director Sells $202,960.68 in Stock

Rambus Inc. (NASDAQ:RMBS) Director Steven Laub sold 3,653 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $55.56, for a total transaction of $202,960.68. Following the sale, the director now owns 10,904 shares in the company, valued at $605,826.24. This represents a 25.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Rambus Stock Performance

RMBS traded down $0.16 during midday trading on Tuesday, reaching $55.65. The company had a trading volume of 564,161 shares, compared to its average volume of 1,291,778. The stock has a market cap of $5.98 billion, a PE ratio of 33.52 and a beta of 1.24. The business has a 50-day moving average price of $51.05 and a two-hundred day moving average price of $55.42. Rambus Inc. has a 12-month low of $37.43 and a 12-month high of $69.15.

Institutional Trading of Rambus

Large investors have recently bought and sold shares of the company. Intech Investment Management LLC raised its holdings in Rambus by 39.2% during the 1st quarter. Intech Investment Management LLC now owns 80,473 shares of the semiconductor company’s stock valued at $4,166,000 after acquiring an additional 22,677 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Rambus by 6.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 309,512 shares of the semiconductor company’s stock worth $16,025,000 after acquiring an additional 19,120 shares during the period. McIlrath & Eck LLC purchased a new stake in Rambus in the 1st quarter worth approximately $42,000. Empowered Funds LLC grew its position in shares of Rambus by 34.1% during the 1st quarter. Empowered Funds LLC now owns 22,750 shares of the semiconductor company’s stock valued at $1,178,000 after purchasing an additional 5,783 shares in the last quarter. Finally, United Services Automobile Association bought a new position in shares of Rambus in the first quarter worth $385,000. 88.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RMBS has been the topic of a number of research reports. Robert W. Baird set a $90.00 price objective on Rambus in a research report on Monday, February 3rd. Evercore ISI started coverage on shares of Rambus in a research note on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 price target for the company. StockNews.com lowered Rambus from a “buy” rating to a “hold” rating in a report on Monday. Rosenblatt Securities restated a “buy” rating and set a $80.00 price objective on shares of Rambus in a report on Tuesday, April 29th. Finally, Susquehanna lifted their price target 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. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $75.00.

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.