Rambus Inc. (NASDAQ:RMBS) Director Steven Laub Sells 2,000 Shares

Rambus Inc. (NASDAQ:RMBS) Director Steven Laub sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $66.91, for a total value of $133,820.00. Following the sale, the director now owns 7,761 shares of the company’s stock, valued at $519,288.51. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Rambus Price Performance

Shares of RMBS stock opened at $65.38 on Friday. The firm’s 50-day moving average is $57.03 and its two-hundred day moving average is $57.48. Rambus Inc. has a 12 month low of $34.77 and a 12 month high of $68.54. The company has a market capitalization of $7.03 billion, a PE ratio of 25.05, a price-to-earnings-growth ratio of 3.29 and a beta of 1.23.

Rambus (NASDAQ:RMBS) last released its quarterly earnings results on Monday, October 30th. The semiconductor company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.41 by $0.52. Rambus had a net margin of 63.15% and a return on equity of 19.08%. The firm had revenue of $105.30 million for the quarter, compared to analyst estimates of $131.20 million. During the same quarter in the previous year, the company earned $0.40 EPS. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. Sell-side analysts forecast that Rambus Inc. will post 1.44 EPS for the current year.

Analyst Ratings Changes

RMBS has been the subject of several research reports. Rosenblatt Securities reiterated a “buy” rating and set a $73.00 price target on shares of Rambus in a research report on Tuesday, September 19th. Jefferies Financial Group lifted their target price on shares of Rambus from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, August 1st. StockNews.com initiated coverage on shares of Rambus in a research report on Thursday, October 5th. They issued a “hold” rating for the company. Susquehanna boosted their price target on shares of Rambus from $60.00 to $75.00 and gave the stock a “positive” rating in a research report on Friday, July 21st. Finally, TheStreet upgraded shares of Rambus from a “c+” rating to a “b+” rating in a report on Monday, July 31st. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.80.

Institutional Investors Weigh In On Rambus

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Rambus during the 2nd quarter worth about $584,301,000. JPMorgan Chase & Co. increased its position in shares of Rambus by 787.6% during the first quarter. JPMorgan Chase & Co. now owns 3,756,514 shares of the semiconductor company’s stock valued at $192,560,000 after acquiring an additional 3,333,307 shares during the last quarter. Polar Capital Holdings Plc purchased a new stake in shares of Rambus in the 2nd quarter valued at approximately $84,006,000. Norges Bank purchased a new stake in shares of Rambus in the 4th quarter valued at approximately $41,548,000. Finally, Captrust Financial Advisors lifted its holdings in shares of Rambus by 357.1% in the 4th quarter. Captrust Financial Advisors now owns 1,288,667 shares of the semiconductor company’s stock worth $46,188,000 after acquiring an additional 1,006,772 shares during the last quarter. Hedge funds and other institutional investors own 86.15% of the company’s stock.

Rambus Company Profile

Rambus Inc provides semiconductor products in the United States, Taiwan, South Korea, Japan, Europe, Canada, Singapore, China, and internationally. The company offers DDR memory interface chips, including DDR5 and DDR4 memory interface chips to module manufacturers, and OEMs; silicon IP comprising, interface and security IP solutions that move and protect data in advanced data center, government, and automotive applications; and physical interface and digital controller IP to offer industry-leading, integrated memory, and interconnect subsystems.