Luc Seraphin Sells 10,000 Shares of Rambus Inc. (NASDAQ:RMBS) Stock

Rambus Inc. (NASDAQ:RMBS) CEO Luc Seraphin sold 10,000 shares of the business’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $53.79, for a total transaction of $537,900.00. Following the completion of the sale, the chief executive officer now directly owns 316,931 shares of the company’s stock, valued at $17,047,718.49. This represents a 3.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Rambus Trading Up 4.8 %

NASDAQ:RMBS traded up $2.63 on Wednesday, hitting $56.96. The company had a trading volume of 845,458 shares, compared to its average volume of 1,276,190. The stock has a market capitalization of $6.12 billion, a price-to-earnings ratio of 34.31 and a beta of 1.25. The firm has a 50 day moving average of $59.56 and a two-hundred day moving average of $52.59. Rambus Inc. has a 52 week low of $37.43 and a 52 week high of $69.15.

Hedge Funds Weigh In On Rambus

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC acquired a new position in Rambus in the 4th quarter valued at approximately $232,000. Orion Capital Management LLC acquired a new position in Rambus in the 4th quarter valued at approximately $37,000. Castleark Management LLC acquired a new position in Rambus in the 4th quarter valued at approximately $7,395,000. PharVision Advisers LLC acquired a new position in Rambus in the 4th quarter valued at approximately $253,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Rambus by 18.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 290,392 shares of the semiconductor company’s stock valued at $15,350,000 after acquiring an additional 45,967 shares during the period. Institutional investors own 88.54% of the company’s stock.

Analyst Ratings Changes

RMBS has been the subject of a number of recent research reports. Robert W. Baird set a $90.00 price objective on shares of Rambus in a report on Monday, February 3rd. Susquehanna upped their price target on shares of Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a report on Tuesday, February 4th. Baird R W raised shares of Rambus to a “strong-buy” rating in a report on Monday, November 25th. StockNews.com downgraded shares of Rambus from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Finally, Wells Fargo & Company upped their price target on shares of Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $76.71.

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.