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

Rambus, Inc. (NASDAQ:RMBS) CFO Desmond Lynch sold 4,273 shares of the stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $101.53, for a total value of $433,837.69. Following the sale, the chief financial officer owned 63,618 shares of the company’s stock, valued at $6,459,135.54. This represents a 6.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Rambus Trading Up 2.6%

Shares of RMBS opened at $101.09 on Thursday. The business’s 50 day moving average is $102.38 and its 200 day moving average is $96.30. Rambus, Inc. has a 12-month low of $40.12 and a 12-month high of $135.75. The company has a market capitalization of $10.90 billion, a PE ratio of 47.91 and a beta of 1.53.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RMBS. Steigerwald Gordon & Koch Inc. bought a new stake in shares of Rambus in the 3rd quarter valued at approximately $25,000. Acumen Wealth Advisors LLC purchased a new stake in Rambus during the 4th quarter valued at $25,000. Torren Management LLC bought a new stake in Rambus in the fourth quarter worth $26,000. True Wealth Design LLC lifted its position in Rambus by 162.5% in the second quarter. True Wealth Design LLC now owns 420 shares of the semiconductor company’s stock worth $27,000 after buying an additional 260 shares during the last quarter. Finally, Abound Wealth Management purchased a new position in Rambus during the third quarter worth $28,000. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on RMBS shares. Cfra cut shares of Rambus from a “hold” rating to a “moderate sell” rating in a research note on Monday, December 15th. Susquehanna reduced their target price on Rambus from $100.00 to $90.00 and set a “neutral” rating on the stock in a report on Tuesday, February 3rd. Weiss Ratings raised Rambus from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. Rosenblatt Securities restated a “buy” rating and set a $130.00 price target on shares of Rambus in a report on Tuesday, February 3rd. Finally, William Blair started coverage on Rambus in a report on Thursday, January 22nd. They set an “outperform” rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target 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.