Luc Seraphin Sells 15,000 Shares of Rambus Inc. (NASDAQ:RMBS) Stock

Rambus Inc. (NASDAQ:RMBS) CEO Luc Seraphin sold 15,000 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $59.93, for a total value of $898,950.00. Following the completion of the sale, the chief executive officer now directly owns 283,321 shares of the company’s stock, valued at $16,979,427.53. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Luc Seraphin also recently made the following trade(s):

• On Tuesday, March 26th, Luc Seraphin sold 15,000 shares of Rambus stock. The stock was sold at an average price of $62.69, for a total value of $940,350.00.
• On Tuesday, March 19th, Luc Seraphin sold 15,000 shares of Rambus stock. The stock was sold at an average price of $58.35, for a total value of $875,250.00.
• On Tuesday, March 12th, Luc Seraphin sold 15,000 shares of Rambus stock. The stock was sold at an average price of $62.69, for a total value of $940,350.00.
• On Tuesday, March 5th, Luc Seraphin sold 15,000 shares of Rambus stock. The stock was sold at an average price of $62.17, for a total value of $932,550.00.

Rambus Price Performance

NASDAQ RMBS opened at $60.31 on Thursday. Rambus Inc. has a 1-year low of $43.58 and a 1-year high of $76.38. The company has a market capitalization of $6.55 billion, a P/E ratio of 20.10 and a beta of 1.16. The business has a 50 day moving average price of $61.49 and a 200 day moving average price of $62.25.

Rambus (NASDAQ:RMBS) last released its quarterly earnings data on Monday, February 5th. The semiconductor company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.03. Rambus had a return on equity of 17.70% and a net margin of 72.41%. The firm had revenue of $136.00 million during the quarter, compared to the consensus estimate of $134.00 million. On average, research analysts expect that Rambus Inc. will post 1.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rambus

Several hedge funds have recently bought and sold shares of RMBS. BlackRock Inc. increased its position in Rambus by 1.7% during the first quarter. BlackRock Inc. now owns 17,864,310 shares of the semiconductor company’s stock worth $915,725,000 after buying an additional 295,147 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Rambus by 2.6% in the third quarter. Vanguard Group Inc. now owns 12,586,966 shares of the semiconductor company’s stock worth $319,960,000 after acquiring an additional 314,467 shares during the last quarter. State Street Corp raised its holdings in shares of Rambus by 3.3% in the third quarter. State Street Corp now owns 4,855,801 shares of the semiconductor company’s stock worth $123,434,000 after acquiring an additional 155,076 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Rambus by 14.8% in the third quarter. JPMorgan Chase & Co. now owns 4,794,327 shares of the semiconductor company’s stock worth $267,476,000 after acquiring an additional 616,670 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Rambus by 120.4% in the fourth quarter. Wellington Management Group LLP now owns 3,933,923 shares of the semiconductor company’s stock worth $268,490,000 after acquiring an additional 2,149,396 shares during the last quarter. 88.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Rosenblatt Securities reissued a “buy” rating and set a $85.00 target price on shares of Rambus in a research note on Wednesday, March 13th. Wells Fargo & Company increased their target price on Rambus from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Rambus currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.20.

Rambus Company Profile

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.