Insider Selling: Rambus (NASDAQ:RMBS) Director Sells $1,605,000.00 in Stock

Rambus, Inc. (NASDAQ:RMBS) Director Emiko Higashi sold 10,000 shares of Rambus stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $160.50, for a total value of $1,605,000.00. Following the completion of the sale, the director owned 49,519 shares in the company, valued at $7,947,799.50. This represents a 16.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Emiko Higashi also recently made the following trade(s):

• On Tuesday, May 26th, Emiko Higashi sold 5,000 shares of Rambus stock. The shares were sold at an average price of $157.57, for a total value of $787,850.00.

Rambus Stock Down 14.2%

NASDAQ:RMBS opened at $145.31 on Friday. Rambus, Inc. has a 52 week low of $57.12 and a 52 week high of $174.10. The company has a market capitalization of $15.71 billion, a P/E ratio of 69.20 and a beta of 1.84. The stock’s fifty day moving average is $125.18 and its two-hundred day moving average is $107.98.

Rambus (NASDAQ:RMBS) last posted its earnings results on Monday, April 27th. The semiconductor company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. Rambus had a return on equity of 17.41% and a net margin of 31.90%.The company had revenue of $180.19 million for the quarter, compared to the consensus estimate of $179.94 million. Sell-side analysts anticipate that Rambus, Inc. will post 2.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rambus

A number of institutional investors have recently modified their holdings of the company. Acumen Wealth Advisors LLC purchased a new stake in Rambus during the 4th quarter worth about $25,000. Torren Management LLC purchased a new stake in Rambus during the 4th quarter worth about $26,000. Spire Wealth Management increased its holdings in Rambus by 199.0% during the 4th quarter. Spire Wealth Management now owns 302 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 201 shares during the period. University of Texas Texas AM Investment Management Co. purchased a new stake in Rambus during the 4th quarter worth about $28,000. Finally, Western Wealth Management LLC purchased a new stake in Rambus during the 1st quarter worth about $44,000. 88.54% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RMBS has been the topic of a number of research analyst reports. Jefferies Financial Group lifted their target price on Rambus from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Weiss Ratings cut Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, March 10th. Evercore reaffirmed an “outperform” rating and issued a $172.00 price objective on shares of Rambus in a research note on Tuesday, April 28th. Wells Fargo & Company lifted their price objective on Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Finally, Rosenblatt Securities lifted their price objective on Rambus from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Rambus currently has a consensus rating of “Moderate Buy” and an average price target of $130.43.

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.