The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Rambus Inc. shares valued at $560,319 were sold by Seraphin Luc on Mar 06. At $44.83 per share, Seraphin Luc sold 12,500 shares. The insider’s holdings dropped to 367,153 shares worth approximately $16.02 million following the completion of this transaction.
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Also, Shinn John sold 8,505 shares, netting a total of over 381,217 in proceeds. Following the sale of shares at $44.82 each, the insider now holds 24,139 shares.
Before that, STANG ERIC B had sold 6,000 shares from its account. In a trade valued at $272,760, the Director traded Rambus Inc. shares for $45.46 each. Upon closing the transaction, the insider’s holdings decreased to 6,000 shares, worth approximately $1.19 million.
As published in their initiating research note from Rosenblatt on October 14, 2021, Rambus Inc. [RMBS] has been a Buy and the price target has been revised to $35. This represents a -24.69% premium over Wednesday’s closing price. Analysts at Susquehanna started covering the stock with ‘”a Positive”‘ outlook in a report released in late April. As of May 15, 2019, Wells Fargo has initiated its “an Outperform” rating for RMBS. Earlier on May 29, 2018, Credit Suisse initiated its rating. Their recommendation was “a Neutral” for RMBS stock.
Analyzing RMBS Stock Performance
On Wednesday, Rambus Inc. [NASDAQ: RMBS] rose 1.11% to $43.64. The stock’s lowest price that day was $43.09, but it reached a high of $43.77 in the same session. During the last five days, there has been a drop of approximately -3.09%. Over the course of the year, Rambus Inc. shares have jumped approximately 21.83%. Shares of the company reached a 52-week high of $46.16 on 02/14/23 and a 52-week low of $34.77 on 01/03/23. A 50-day SMA is recorded $41.59, while a 200-day SMA reached $31.41. Nevertheless, trading volume fell to 0.68 million shares from 1.13 million shares the previous day.
Support And Resistance Levels for Rambus Inc. (RMBS)
According to the 24-hour chart, there is a support level at 43.23, which, if violated, would cause prices to drop to 42.82. In the upper region, resistance lies at 43.91. The next price resistance is at 44.18. RSI (Relative Strength Index) is 51.03 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.22, which suggests the price will decrease in the coming days. Percent R is at 65.16%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Rambus Inc. subject to short interest?
Stocks of Rambus Inc. saw a sharp steep in short interest on Jan 12, 2023 dropping by -0.27 million shares to 2.33 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 2.6 million shares. A decline of -11.59% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.29 of the overall float, the days-to-cover ratio (short ratio) decline to 3.29.
Which companies own the most shares of Rambus Inc. (RMBS)?
According to BlackRock Fund Advisors filings, the company currently owns 15,665,355 shares, which is about 14.58% of the total RMBS shares outstanding. The investor’s shares have appreciated by 72,242 from its previous 13-F filing of 15593113.0 shares. With the completion of the sale transaction, The Vanguard Group, Inc.’s stake is now worth $494,052,337. Columbia Management Investment Ad reduced a -12.98% interest valued at $192.56 million while Neuberger Berman Investment Advis sold a -543,727 stake. A total of -499,649 shares of Rambus Inc. were sold by SSgA Funds Management, Inc. during the quarter, and -78,008 were sold by Dimensional Fund Advisors LP. In its current portfolio, Wellington Management Co. LLP holds 2,732,152 shares valued at $110.57 million.
In terms of Rambus Inc. share price expectations, FactSet research, analysts set an average price target of $50.80 in the next 12 months, up nearly 15.85% from the previous closing price of $43.16. Analysts anticipate Rambus Inc. stock to reach $60.00 by 2023, with the lowest price target being $39.00. In spite of this, 6 analysts ranked Rambus Inc. stock as a Buy at the end of 2023. On January 30, 2018, The Benchmark Company assigned a price target of “a Buy” to the stock and reiterated coverage with a $18.