Rambus (RMBS) Shares Down 5.7% After Insider Selling

Rambus Inc. (NASDAQ:RMBS) shares were down 5.7% on Tuesday after an insider sold shares in the company. The stock traded as low as $8.40 and last traded at $8.41. Approximately 546,981 shares traded hands during mid-day trading, a decline of 27% from the average daily volume of 749,720 shares. The stock had previously closed at $8.92.

Specifically, SVP Jae Kim sold 7,292 shares of the business’s stock in a transaction on Tuesday, December 4th. The stock was sold at an average price of $8.68, for a total value of $63,294.56. Following the completion of the sale, the senior vice president now directly owns 122,532 shares in the company, valued at approximately $1,063,577.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Charles Kissner sold 5,896 shares of the business’s stock in a transaction on Tuesday, October 2nd. The shares were sold at an average price of $10.59, for a total value of $62,438.64. Following the completion of the sale, the insider now owns 33,347 shares of the company’s stock, valued at $353,144.73. The disclosure for this sale can be found here. Insiders own 3.20% of the company’s stock.

Several analysts recently issued reports on RMBS shares. ValuEngine downgraded Rambus from a “hold” rating to a “sell” rating in a research note on Tuesday, August 14th. BidaskClub downgraded Rambus from a “hold” rating to a “sell” rating in a research note on Friday, August 17th. Roth Capital reduced their price target on Rambus from $18.00 to $13.00 and set a “buy” rating for the company in a research note on Tuesday, October 23rd. Deutsche Bank reduced their price target on Rambus from $16.00 to $13.00 and set a “buy” rating for the company in a research note on Tuesday, October 30th. Finally, TheStreet downgraded Rambus from a “c-” rating to a “d” rating in a research note on Tuesday, October 30th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $14.80.

The stock has a market cap of $946.13 million, a price-to-earnings ratio of 18.69, a price-to-earnings-growth ratio of 1.18 and a beta of 0.52. The company has a quick ratio of 7.91, a current ratio of 8.02 and a debt-to-equity ratio of 0.18.

Rambus (NASDAQ:RMBS) last released its earnings results on Monday, October 29th. The semiconductor company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.23). The company had revenue of $59.80 million for the quarter, compared to the consensus estimate of $100.00 million. Rambus had a negative net margin of 45.18% and a positive return on equity of 7.78%. The business’s revenue was down 39.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 earnings per share. As a group, equities analysts expect that Rambus Inc. will post 0.75 EPS for the current year.

Several large investors have recently added to or reduced their stakes in the company. Meadow Creek Investment Management LLC lifted its position in shares of Rambus by 30.9% during the 2nd quarter. Meadow Creek Investment Management LLC now owns 20,272 shares of the semiconductor company’s stock valued at $254,000 after acquiring an additional 4,788 shares during the period. Bank of America Corp DE lifted its position in shares of Rambus by 5.8% during the 2nd quarter. Bank of America Corp DE now owns 99,710 shares of the semiconductor company’s stock valued at $1,250,000 after acquiring an additional 5,457 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Rambus by 8.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 86,502 shares of the semiconductor company’s stock valued at $944,000 after acquiring an additional 6,583 shares during the period. Summit Global Investments lifted its position in shares of Rambus by 15.5% during the 2nd quarter. Summit Global Investments now owns 49,300 shares of the semiconductor company’s stock valued at $618,000 after acquiring an additional 6,600 shares during the period. Finally, NumerixS Investment Technologies Inc lifted its position in shares of Rambus by 471.4% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 8,000 shares of the semiconductor company’s stock valued at $104,000 after acquiring an additional 6,600 shares during the period. Hedge funds and other institutional investors own 76.77% of the company’s stock.

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About Rambus (NASDAQ:RMBS)

Rambus Inc provides semiconductor products in South Korea and internationally. The company operates through Memory and Interfaces, Security, and Other segments. It focuses on the design, development, and manufacturing through partnerships and licensing of technology and solutions related to memory and interfaces; and design, development, deployment, and licensing of technologies for chip, system and in-field application security, anti-counterfeiting, smart ticketing, and mobile payments.

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