Rambus Inc. (NASDAQ:RMBS) CEO Sells $513,250.00 in Stock

Rambus Inc. (NASDAQ:RMBS – Get Rating) CEO Luc Seraphin sold 12,500 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $41.06, for a total transaction of $513,250.00. Following the transaction, the chief executive officer now owns 354,653 shares of the company’s stock, valued at approximately $14,562,052.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Rambus Price Performance

RMBS stock opened at $43.08 on Wednesday. The company has a fifty day moving average price of $42.34 and a 200 day moving average price of $35.38. Rambus Inc. has a 12 month low of $20.00 and a 12 month high of $46.16. The company has a market cap of $4.65 billion, a price-to-earnings ratio of -307.69 and a beta of 1.29.

Rambus (NASDAQ:RMBS – Get Rating) last released its quarterly earnings results on Monday, February 6th. The semiconductor company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.27). Rambus had a negative net margin of 3.15% and a positive return on equity of 21.35%. The business had revenue of $122.37 million during the quarter, compared to analysts’ expectations of $151.93 million. During the same quarter last year, the company earned $0.35 EPS. The firm’s revenue for the quarter was up 33.3% compared to the same quarter last year. As a group, analysts anticipate that Rambus Inc. will post 1.39 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on RMBS. StockNews.com cut shares of Rambus from a “buy” rating to a “hold” rating in a report on Monday, February 27th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Rambus from $34.00 to $45.00 in a research report on Monday, January 30th. TheStreet downgraded shares of Rambus from a “b-” rating to a “c+” rating in a research report on Wednesday, December 28th. Susquehanna boosted their price objective on shares of Rambus from $36.00 to $60.00 and gave the stock a “positive” rating in a research report on Friday, February 3rd. Finally, Wells Fargo & Company boosted their price objective on shares of Rambus from $42.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 18th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.20.

Institutional Trading of Rambus

Several institutional investors and hedge funds have recently bought and sold shares of RMBS. Rice Hall James & Associates LLC increased its stake in Rambus by 100.2% in the 3rd quarter. Rice Hall James & Associates LLC now owns 180,578 shares of the semiconductor company’s stock valued at $4,590,000 after buying an additional 90,365 shares during the period. Pacer Advisors Inc. increased its stake in Rambus by 14.6% in the 3rd quarter. Pacer Advisors Inc. now owns 423,804 shares of the semiconductor company’s stock valued at $10,773,000 after buying an additional 53,879 shares during the period. Centiva Capital LP acquired a new position in Rambus in the 3rd quarter valued at $223,000. New York State Common Retirement Fund increased its stake in Rambus by 0.9% in the 3rd quarter. New York State Common Retirement Fund now owns 438,274 shares of the semiconductor company’s stock valued at $11,141,000 after buying an additional 3,727 shares during the period. Finally, MetLife Investment Management LLC increased its stake in Rambus by 1.4% in the 3rd quarter. MetLife Investment Management LLC now owns 58,596 shares of the semiconductor company’s stock valued at $1,490,000 after buying an additional 800 shares during the period. Hedge funds and other institutional investors own 85.99% of the company’s stock.

About Rambus

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Rambus, Inc engages in the provision of cutting-edge semiconductor and Internet Protocol products, spanning memory and interfaces to security, smart sensors and lighting. Its products include Memory Interface Chips, Interface IP, and Security IP. The company was founded by P. Michael Farmwald and Mark A.