John Shinn, Senior Vice President and General Counsel at Rambus Inc . (NASDAQ:RMBS), 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, amounting to a total transaction value of $143,122. Following this sale, Shinn retains ownership of 20,628 shares in 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 35.5x, reflecting its premium valuation. InvestingPro analysis reveals 14 additional key insights about Rambus, including detailed financial health metrics and valuation indicators available in the comprehensive Pro Research Report.
In other recent news, Rambus Inc. has reported impressive Q3 FY2024 results, with revenue reaching $145.5 million, primarily 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 it generated $62 million in operational cash. Rambus also renewed its patent license deal with Micron Technology (NASDAQ:MU) for another five years, granting Micron access to Rambus's patent portfolio until late 2029.
Analyst firms Baird and Loop Capital initiated coverage on Rambus with an Outperform and Buy rating, respectively, recognizing the company's role in enhancing AI-driven performance in data centers and addressing memory bottlenecks. Rambus also introduced new DDR5 MRDIMM and RDIMM chipsets for advanced data center and AI applications.
Rambus has projected Q4 revenue to be between $154 million and $160 million, with non-GAAP earnings per share expected to be between $0.52 and $0.59. These are the recent developments for Rambus Inc. as it continues to secure its standing in the DRAM industry through strategic licensing agreements and the strength of its patent portfolio.
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