Rambus (NASDAQ:RMBS) CFO Desmond Lynch Sells 4,273 Shares

Rambus, Inc. (NASDAQ:RMBS) CFO Desmond Lynch sold 4,273 shares of the business’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $101.53, for a total transaction of $433,837.69. Following the completion of the transaction, the chief financial officer owned 63,618 shares in the company, valued at $6,459,135.54. The trade was a 6.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Rambus Stock Up 3.5%

Shares of Rambus stock traded up $3.38 during trading on Tuesday, reaching $98.65. 720,097 shares of the stock were exchanged, compared to its average volume of 2,798,326. The firm has a market cap of $10.63 billion, a price-to-earnings ratio of 46.83 and a beta of 1.53. Rambus, Inc. has a 1 year low of $40.12 and a 1 year high of $135.75. The stock’s fifty day moving average is $102.09 and its 200 day moving average is $96.09.

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

Institutional Investors Weigh In On Rambus

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Steigerwald Gordon & Koch Inc. bought a new position in shares of Rambus in the third quarter worth approximately $25,000. Acumen Wealth Advisors LLC bought a new position in Rambus in the 4th quarter worth $25,000. Torren Management LLC purchased a new stake in Rambus in the 4th quarter worth $26,000. True Wealth Design LLC raised its holdings in Rambus by 162.5% during the second quarter. True Wealth Design LLC now owns 420 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 260 shares during the period. Finally, Abound Wealth Management bought a new position in shares of Rambus in the third quarter worth about $28,000. Institutional investors own 88.54% of the company’s stock.

Analyst Ratings Changes

RMBS has been the topic of several analyst reports. Wells Fargo & Company boosted their target price on Rambus from $73.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. Weiss Ratings downgraded shares of Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, February 9th. Jefferies Financial Group upgraded shares of Rambus to a “strong-buy” rating in a research note on Tuesday, October 28th. Susquehanna dropped their target price on shares of Rambus from $100.00 to $90.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 3rd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $130.00 target price on shares of Rambus in a report on Tuesday, February 3rd. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.