Meera Rao Sells 653 Shares of Rambus (NASDAQ:RMBS) Stock

Rambus, Inc. (NASDAQ:RMBS) Director Meera Rao sold 653 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $101.99, for a total value of $66,599.47. Following the transaction, the director directly owned 29,261 shares in the company, valued at approximately $2,984,329.39. This trade represents a 2.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Meera Rao also recently made the following trade(s):

• On Tuesday, September 2nd, Meera Rao sold 3,000 shares of Rambus stock. The stock was sold at an average price of $71.72, for a total value of $215,160.00.

Rambus Stock Performance

Shares of NASDAQ:RMBS opened at $99.99 on Friday. The firm has a market cap of $10.76 billion, a P/E ratio of 47.17 and a beta of 1.46. Rambus, Inc. has a 52-week low of $40.12 and a 52-week high of $109.15. The business’s 50 day simple moving average is $82.74 and its two-hundred day simple moving average is $65.26.

Institutional Investors Weigh In On Rambus

Institutional investors and hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its position in Rambus by 60.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,746,856 shares of the semiconductor company’s stock valued at $452,870,000 after purchasing an additional 3,297,728 shares in the last quarter. EdgePoint Investment Group Inc. raised its position in Rambus by 138.4% during the second quarter. EdgePoint Investment Group Inc. now owns 2,787,327 shares of the semiconductor company’s stock valued at $178,445,000 after purchasing an additional 1,618,133 shares in the last quarter. Geode Capital Management LLC raised its position in Rambus by 1.3% during the second quarter. Geode Capital Management LLC now owns 2,687,691 shares of the semiconductor company’s stock valued at $172,086,000 after purchasing an additional 35,744 shares in the last quarter. Bank of New York Mellon Corp raised its position in Rambus by 13.2% during the second quarter. Bank of New York Mellon Corp now owns 2,019,504 shares of the semiconductor company’s stock valued at $129,289,000 after purchasing an additional 235,253 shares in the last quarter. Finally, Norges Bank purchased a new stake in Rambus during the second quarter valued at about $126,268,000. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Wall Street Analysts Forecast Growth

RMBS has been the subject of a number of research analyst reports. Arete Research raised Rambus to a “strong-buy” rating in a research report on Thursday, August 28th. Arete raised Rambus from a “neutral” rating to a “buy” rating and set a $91.00 price target for the company in a research report on Thursday, August 28th. Evercore ISI increased their price objective on Rambus from $81.00 to $114.00 and gave the company an “outperform” rating in a report on Tuesday, September 16th. Rosenblatt Securities increased their price objective on Rambus from $90.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, September 17th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Rambus in a report on Saturday, September 27th. Two research analysts have rated the stock with a Strong Buy rating and nine have issued a Buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $93.50.

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.