Rambus SVP Sells $143,122 in Common Stock By Investing.com

John Shinn, senior vice president and general counsel of Rambus Inc. . (NASDAQ:), a semiconductor company with impressive gross profit margins of 82.5% and a market capitalization of $6.2 billion according to InvestingPro, recently sold 2,462 shares of the company’s common stock. The shares were sold at an exact price of $58.1327 each, which is equivalent to a total transaction value of $143,122. Following this sale, Shinn retains ownership of 20,628 shares of the semiconductor company. This transaction was filed with the Securities and Exchange Commission on December 12, 2024. The stock currently trades at a P/E ratio of 35.5 times, reflecting its premium valuation. InvestingPro’s analysis reveals 14 additional key insights into Rambus, including detailed financial health metrics and valuation indicators available in the comprehensive Pro Research Report.

In other recent news, Rambus Inc. reported impressive results in the third quarter of fiscal 2024, with revenue reaching $145.5 million, mainly driven by strong demand for DDR5 memory interface chips. The company’s product revenue saw a 27% year-over-year increase to $66.4 million and generated $62 million in operating cash. Rambus also renewed its patent licensing agreement with Micron Technology (NASDAQ:) for another five years, granting Micron access to Rambus’ patent portfolio through the end of 2029.

Analyst firms Baird and Loop Capital initiated coverage of Rambus with an Outperform and Buy rating, respectively, recognizing the company’s role in improving AI-driven performance in data centers and addressing data center bottlenecks. the memory. Rambus also introduced new DDR5 MRDIMM and RDIMM chipsets for advanced data center and AI applications.

Rambus has projected fourth-quarter revenue to be between $154 million and $160 million, and non-GAAP earnings per share are expected to be between $0.52 and $0.59. These are recent developments for Rambus Inc. as it continues to secure its position in the DRAM industry through strategic licensing agreements and the strength of its patent portfolio.

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