Rambus (RMBS) Shares Gap Down on Insider Selling

Shares of Rambus Inc. (NASDAQ:RMBS) gapped down before the market opened on Wednesday after an insider sold shares in the company. The stock had previously closed at $12.94, but opened at $13.02. Rambus shares last traded at $12.82, with a volume of 458005 shares traded.

Specifically, SVP Laura Stark sold 2,937 shares of the stock in a transaction on Friday, November 10th. The stock was sold at an average price of $14.48, for a total transaction of $42,527.76. Following the sale, the senior vice president now owns 205,966 shares in the company, valued at $2,982,387.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jae Kim sold 7,000 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $14.90, for a total value of $104,300.00. Following the sale, the senior vice president now owns 99,580 shares in the company, valued at approximately $1,483,742. The disclosure for this sale can be found here. Insiders have sold 34,990 shares of company stock worth $507,530 in the last 90 days. Company insiders own 2.00% of the company’s stock.

RMBS has been the topic of several research reports. TheStreet raised Rambus from a “c+” rating to a “b-” rating in a research note on Friday, October 13th. Loop Capital reaffirmed a “buy” rating and set a $19.00 price target (up previously from $16.00) on shares of Rambus in a research note on Tuesday, October 24th. Citigroup upped their price target on Rambus from $15.30 to $15.90 and gave the company a “buy” rating in a research note on Wednesday, October 25th. Zacks Investment Research raised Rambus from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Friday, October 27th. Finally, BidaskClub lowered Rambus from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $16.32.

The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.34 and a current ratio of 2.80. The stock has a market cap of $1,410.00, a P/E ratio of -75.50, a PEG ratio of 2.33 and a beta of 0.74.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings results on Monday, January 29th. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. Rambus had a positive return on equity of 9.56% and a negative net margin of 4.70%. The business had revenue of $101.89 million for the quarter, compared to analyst estimates of $101.25 million. During the same quarter in the prior year, the firm posted $0.16 earnings per share. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. analysts expect that Rambus Inc. will post 0.56 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in the business. Pinebridge Investments L.P. lifted its stake in Rambus by 1.5% in the second quarter. Pinebridge Investments L.P. now owns 14,720 shares of the semiconductor company’s stock valued at $169,000 after buying an additional 219 shares during the period. Amalgamated Bank lifted its stake in Rambus by 3.7% in the second quarter. Amalgamated Bank now owns 15,208 shares of the semiconductor company’s stock valued at $174,000 after buying an additional 549 shares during the period. Ameritas Investment Partners Inc. lifted its stake in Rambus by 9.2% in the second quarter. Ameritas Investment Partners Inc. now owns 9,734 shares of the semiconductor company’s stock valued at $111,000 after buying an additional 822 shares during the period. Numeric Investors LLC lifted its stake in Rambus by 7.8% in the second quarter. Numeric Investors LLC now owns 24,800 shares of the semiconductor company’s stock valued at $283,000 after buying an additional 1,800 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in Rambus by 2.3% in the second quarter. The Manufacturers Life Insurance Company now owns 85,901 shares of the semiconductor company’s stock valued at $981,000 after buying an additional 1,959 shares during the period. 78.35% of the stock is currently owned by hedge funds and other institutional investors.

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Rambus Company Profile

Rambus Inc (Rambus) produces hardware and software technologies. The Company’s segments include Memory and Interface Division (MID), which focuses the design, development, manufacturing through partnerships and licensing of technology and solutions that is related to memory and interfaces; Rambus Security Division (RSD), which focuses on the design, development and licensing of technologies for chip and system security, anti-counterfeiting, smart ticketing and mobile payments; Emerging Solutions Division (ESD), which encompasses its long-term research and development efforts in the area of emerging technologies, and Rambus Lighting Division (RLD), which focuses on the design, development and licensing of technologies for lighting.

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