Rambus (NASDAQ:RMBS) Director Meera Rao Sells 8,538 Shares of Stock

Rambus, Inc. (NASDAQ:RMBS) Director Meera Rao sold 8,538 shares of the firm’s stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $118.08, for a total value of $1,008,167.04. Following the transaction, the director owned 22,946 shares of the company’s stock, valued at $2,709,463.68. This represents a 27.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Rambus Price Performance

NASDAQ RMBS opened at $120.02 on Thursday. The stock has a market capitalization of $12.98 billion, a PE ratio of 56.88 and a beta of 1.63. The business has a 50 day simple moving average of $97.44 and a two-hundred day simple moving average of $99.41. Rambus, Inc. has a 1-year low of $43.21 and a 1-year high of $135.75.

Rambus (NASDAQ:RMBS) last released its quarterly earnings results on Monday, February 2nd. The semiconductor company reported $0.68 earnings per share for the quarter, meeting the consensus estimate of $0.68. The business had revenue of $190.24 million during the quarter, compared to analysts’ expectations of $188.21 million. Rambus had a return on equity of 17.69% and a net margin of 32.57%. On average, analysts anticipate that Rambus, Inc. will post 1.89 EPS for the current fiscal year.

Institutional Investors Weigh In On Rambus

A number of institutional investors and hedge funds have recently modified their holdings of the business. Oak Grove Capital LLC increased its position in Rambus by 1.3% during the 4th quarter. Oak Grove Capital LLC now owns 7,600 shares of the semiconductor company’s stock valued at $698,000 after buying an additional 100 shares in the last quarter. Northwestern Mutual Investment Management Company LLC increased its position in Rambus by 0.4% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 24,085 shares of the semiconductor company’s stock valued at $2,213,000 after buying an additional 103 shares in the last quarter. Krilogy Financial LLC increased its position in Rambus by 5.3% during the 4th quarter. Krilogy Financial LLC now owns 2,157 shares of the semiconductor company’s stock valued at $198,000 after buying an additional 108 shares in the last quarter. Ashton Thomas Private Wealth LLC increased its position in Rambus by 3.3% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,445 shares of the semiconductor company’s stock valued at $317,000 after buying an additional 110 shares in the last quarter. Finally, Meeder Advisory Services Inc. increased its position in Rambus by 3.0% during the 4th quarter. Meeder Advisory Services Inc. now owns 3,883 shares of the semiconductor company’s stock valued at $357,000 after buying an additional 114 shares in the last quarter. 88.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

RMBS has been the subject of several research analyst reports. Rosenblatt Securities restated a “buy” rating and set a $130.00 price target on shares of Rambus in a report on Tuesday, February 3rd. Weiss Ratings cut Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, March 10th. William Blair started coverage on Rambus in a research note on Thursday, January 22nd. They issued an “outperform” rating for the company. Evercore lowered their price objective on Rambus from $126.00 to $119.00 and set an “outperform” rating for the company in a research note on Tuesday, February 3rd. Finally, Susquehanna lowered their price objective on Rambus from $100.00 to $90.00 and set a “neutral” rating for the company in a research note on Tuesday, February 3rd. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Rambus currently has a consensus rating of “Moderate Buy” and an average target price of $105.71.

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.