Insider Selling: Rambus (NASDAQ:RMBS) Director Sells 5,000 Shares of Stock

Rambus, Inc. (NASDAQ:RMBS) Director Emiko Higashi sold 5,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $157.57, for a total transaction of $787,850.00. Following the sale, the director directly owned 59,519 shares of the company’s stock, valued at approximately $9,378,408.83. This trade represents a 7.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Rambus Price Performance

NASDAQ RMBS traded down $8.57 on Wednesday, reaching $148.66. The company had a trading volume of 2,635,733 shares, compared to its average volume of 2,475,391. The firm has a market capitalization of $16.08 billion, a PE ratio of 70.79 and a beta of 1.79. Rambus, Inc. has a 1 year low of $52.12 and a 1 year high of $161.80. The firm has a 50-day moving average of $115.30 and a 200-day moving average of $105.06.

Rambus (NASDAQ:RMBS) last released its quarterly earnings results on Monday, April 27th. The semiconductor company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. The firm had revenue of $180.19 million during the quarter, compared to analysts’ expectations of $179.94 million. Rambus had a return on equity of 17.41% and a net margin of 31.90%. As a group, sell-side analysts expect that Rambus, Inc. will post 2.44 EPS for the current fiscal year.

Institutional Trading of Rambus

Hedge funds have recently made changes to their positions in the stock. Hussman Strategic Advisors Inc. acquired a new stake in shares of Rambus during the third quarter worth approximately $1,094,000. Baader Bank Aktiengesellschaft acquired a new stake in shares of Rambus during the third quarter worth approximately $1,149,000. M&T Bank Corp grew its position in shares of Rambus by 2,372.0% during the fourth quarter. M&T Bank Corp now owns 122,636 shares of the semiconductor company’s stock worth $11,269,000 after buying an additional 117,675 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its position in shares of Rambus by 57.0% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 52,435 shares of the semiconductor company’s stock worth $5,464,000 after buying an additional 19,046 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Rambus by 1,320.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 129,676 shares of the semiconductor company’s stock worth $13,512,000 after purchasing an additional 120,549 shares during the last quarter. Institutional investors and hedge funds own 88.54% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on RMBS. Wells Fargo & Company upped their price target on Rambus from $115.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. Jefferies Financial Group upped their price target on Rambus from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Robert W. Baird downgraded Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 price target for the company. in a report on Tuesday, April 28th. Evercore reissued an “outperform” rating and issued a $172.00 price target on shares of Rambus in a report on Tuesday, April 28th. Finally, Rosenblatt Securities increased their price target on Rambus from $130.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $130.43.

About Rambus

Rambus Inc is a technology licensing company specializing in semiconductor and system-level interface solutions. Founded in 1990 by Stanford University researchers Mike Farmwald and Mark Horowitz, Rambus established its headquarters in Sunnyvale, California. The company initially gained prominence by developing high-speed DRAM interface technology and securing a broad patent portfolio covering memory architecture, data signaling and power management innovations.

Today, Rambus licenses its proprietary intellectual property (IP) to semiconductor companies, original equipment manufacturers (OEMs) and system integrators worldwide.