Rambus Inc. (NASDAQ:RMBS) Director Meera Rao Sells 5,408 Shares

Rambus Inc. (NASDAQ:RMBS) Director Meera Rao sold 5,408 shares of Rambus stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $58.22, for a total value of $314,853.76. Following the completion of the transaction, the director now directly owns 29,090 shares of the company’s stock, valued at approximately $1,693,619.80. This represents a 15.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Rambus Stock Down 1.2 %

RMBS stock opened at $57.41 on Friday. Rambus Inc. has a twelve month low of $37.42 and a twelve month high of $76.38. The stock has a market cap of $6.12 billion, a P/E ratio of 35.66 and a beta of 1.22. The business’s 50-day moving average price is $50.79 and its 200-day moving average price is $50.45.

Wall Street Analysts Forecast Growth

RMBS has been the subject of several recent analyst reports. Baird R W raised Rambus to a “strong-buy” rating in a research report on Monday, November 25th. Wells Fargo & Company assumed coverage on Rambus in a research note on Wednesday, November 6th. They set an “overweight” rating and a $62.00 price target for the company. Robert W. Baird assumed coverage on Rambus in a research note on Monday, November 25th. They set an “outperform” rating and a $90.00 price target for the company. Rosenblatt Securities restated a “buy” rating and set a $85.00 price target on shares of Rambus in a research note on Tuesday, October 29th. Finally, Loop Capital assumed coverage on Rambus in a research note on Monday, November 11th. They set a “buy” rating and a $70.00 price target for the company. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $74.67.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Quarry LP lifted its holdings in Rambus by 40.3% in the 3rd quarter. Quarry LP now owns 919 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 264 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of Rambus by 68.7% during the 2nd quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 296 shares in the last quarter. Chartwell Investment Partners LLC raised its holdings in shares of Rambus by 0.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 38,956 shares of the semiconductor company’s stock worth $1,645,000 after acquiring an additional 318 shares in the last quarter. Great Valley Advisor Group Inc. raised its holdings in shares of Rambus by 4.3% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 8,550 shares of the semiconductor company’s stock worth $361,000 after acquiring an additional 350 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Rambus by 11.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,996 shares of the semiconductor company’s stock worth $294,000 after acquiring an additional 496 shares in the last quarter. 88.54% of the stock is owned by hedge funds and other institutional investors.

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.