Insider Selling: Rambus Inc. (NASDAQ:RMBS) Director Sells 4,625 Shares of Stock

Rambus Inc. (NASDAQ:RMBS) Director Necip Sayiner sold 4,625 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $66.74, for a total transaction of $308,672.50. Following the sale, the director now directly owns 42,000 shares in the company, valued at $2,803,080. This trade represents a 9.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Rambus Trading Down 3.3 %

Shares of NASDAQ RMBS traded down $2.26 during mid-day trading on Wednesday, reaching $66.33. The company had a trading volume of 1,390,572 shares, compared to its average volume of 1,050,171. The firm has a 50 day simple moving average of $59.44 and a two-hundred day simple moving average of $51.07. The stock has a market cap of $7.07 billion, a P/E ratio of 39.96 and a beta of 1.26. Rambus Inc. has a 52-week low of $37.42 and a 52-week high of $69.15.

Hedge Funds Weigh In On Rambus

Several hedge funds and other institutional investors have recently bought and sold shares of RMBS. Vanguard Group Inc. lifted its holdings in shares of Rambus by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 12,594,979 shares of the semiconductor company’s stock worth $665,771,000 after acquiring an additional 31,645 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Rambus by 442.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,449,128 shares of the semiconductor company’s stock valued at $288,042,000 after buying an additional 4,445,146 shares during the last quarter. Invesco Ltd. grew its stake in Rambus by 72.1% during the 4th quarter. Invesco Ltd. now owns 4,999,748 shares of the semiconductor company’s stock valued at $264,287,000 after purchasing an additional 2,093,953 shares in the last quarter. State Street Corp increased its stake in shares of Rambus by 3.5% in the third quarter. State Street Corp now owns 4,819,125 shares of the semiconductor company’s stock worth $203,463,000 after buying an additional 164,830 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Rambus by 1.7% in the 4th quarter. JPMorgan Chase & Co. now owns 4,184,370 shares of the semiconductor company’s stock valued at $221,186,000 after purchasing an additional 68,975 shares in the last quarter. 88.54% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on RMBS shares. Robert W. Baird assumed coverage on Rambus in a research report on Monday, November 25th. They issued an “outperform” rating and a $90.00 price target for the company. StockNews.com upgraded Rambus from a “hold” rating to a “buy” rating in a research report on Wednesday, February 5th. Rosenblatt Securities upped their price target on shares of Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Baird R W upgraded Rambus to a “strong-buy” rating in a report on Monday, November 25th. Finally, Wells Fargo & Company increased their price objective on shares of Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $77.29.

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.