Rambus Inc. (NASDAQ:RMBS - Get Free Report) Director Steven Laub sold 3,653 shares of the firm's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $55.56, for a total value of $202,960.68. Following the completion of the transaction, the director now owns 10,904 shares in the company, valued at $605,826.24. The trade was a 25.09% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Rambus Trading Down 0.3%
Rambus stock opened at $55.65 on Wednesday. The company has a 50-day moving average price of $51.13 and a 200 day moving average price of $55.42. Rambus Inc. has a 12-month low of $37.43 and a 12-month high of $69.15. The stock has a market cap of $5.98 billion, a P/E ratio of 33.52 and a beta of 1.24.
Institutional Trading of Rambus
A number of hedge funds and other institutional investors have recently made changes to their positions in RMBS. Intech Investment Management LLC raised its position in shares of Rambus by 39.2% during the 1st quarter. Intech Investment Management LLC now owns 80,473 shares of the semiconductor company's stock valued at $4,166,000 after buying an additional 22,677 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Rambus by 6.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 309,512 shares of the semiconductor company's stock worth $16,025,000 after acquiring an additional 19,120 shares during the last quarter. McIlrath & Eck LLC acquired a new stake in Rambus during the first quarter worth $42,000. Empowered Funds LLC raised its position in Rambus by 34.1% in the first quarter. Empowered Funds LLC now owns 22,750 shares of the semiconductor company's stock valued at $1,178,000 after purchasing an additional 5,783 shares during the period. Finally, United Services Automobile Association purchased a new stake in Rambus in the first quarter valued at $385,000. Institutional investors and hedge funds own 88.54% of the company's stock.
Wall Street Analyst Weigh In
RMBS has been the subject of a number of research reports. Rosenblatt Securities reaffirmed a "buy" rating and set a $80.00 target price on shares of Rambus in a report on Tuesday, April 29th. Wells Fargo & Company upped their price objective on shares of Rambus from $62.00 to $73.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Evercore ISI initiated coverage on shares of Rambus in a research note on Tuesday, February 4th. They issued an "outperform" rating and a $71.00 target price on the stock. Robert W. Baird set a $90.00 target price on Rambus in a report on Monday, February 3rd. Finally, StockNews.com cut Rambus from a "buy" rating to a "hold" rating in a report on Monday. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $75.00.
View Our Latest Research Report on Rambus
Rambus Company Profile
(
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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.
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