Sequoia Financial Advisors LLC Trims Stock Position in Rambus Inc. (NASDAQ:RMBS)

Sequoia Financial Advisors LLC reduced its position in Rambus Inc. (NASDAQ:RMBS) by 9.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 6,471 shares of the semiconductor company’s stock after selling 678 shares during the period. Sequoia Financial Advisors LLC’s holdings in Rambus were worth $442,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. American Century Companies Inc. purchased a new position in Rambus during the first quarter valued at approximately $230,000. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Rambus by 78.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 16,230 shares of the semiconductor company’s stock valued at $518,000 after acquiring an additional 7,142 shares during the period. MetLife Investment Management LLC raised its position in shares of Rambus by 56.5% in the 1st quarter. MetLife Investment Management LLC now owns 59,397 shares of the semiconductor company’s stock worth $1,894,000 after acquiring an additional 21,446 shares in the last quarter. BlackRock Inc. raised its position in shares of Rambus by 0.3% in the 1st quarter. BlackRock Inc. now owns 17,199,468 shares of the semiconductor company’s stock worth $548,492,000 after acquiring an additional 47,422 shares in the last quarter. Finally, Cibc World Market Inc. purchased a new stake in shares of Rambus during the 1st quarter worth $575,000. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Insider Activity at Rambus

In other Rambus news, SVP John Shinn sold 3,928 shares of Rambus stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $64.93, for a total transaction of $255,045.04. Following the completion of the sale, the senior vice president now owns 28,448 shares of the company’s stock, valued at approximately $1,847,128.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, SVP John Shinn sold 3,928 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $64.93, for a total value of $255,045.04. Following the transaction, the senior vice president now owns 28,448 shares in the company, valued at approximately $1,847,128.64. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Desmond Lynch sold 7,837 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $62.18, for a total transaction of $487,304.66. Following the transaction, the chief financial officer now directly owns 41,958 shares of the company’s stock, valued at $2,608,948.44. The disclosure for this sale can be found here. Insiders have sold a total of 121,084 shares of company stock valued at $7,408,298 in the last ninety days. Company insiders own 1.00% of the company’s stock.

Rambus Stock Performance

Shares of RMBS stock opened at $57.25 on Thursday. The firm has a market capitalization of $6.22 billion, a price-to-earnings ratio of 19.08 and a beta of 1.16. The stock’s 50-day simple moving average is $60.01 and its 200-day simple moving average is $62.62. Rambus Inc. has a fifty-two week low of $43.58 and a fifty-two week high of $76.38.

Rambus (NASDAQ:RMBS) last issued its quarterly earnings results on Monday, February 5th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. The business had revenue of $136.00 million for the quarter, compared to analyst estimates of $134.00 million. Rambus had a net margin of 72.41% and a return on equity of 17.70%. As a group, equities analysts forecast that Rambus Inc. will post 1.63 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $85.00 target price on shares of Rambus in a report on Wednesday, March 13th. Wells Fargo & Company boosted their price objective on shares of Rambus from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $73.20.

Rambus Profile

Rambus Inc provides semiconductor products in the United States, South Korea, Singapore, and internationally. The company offers DDR memory interface chips, including DDR5 and DDR4 memory interface chips to module manufacturers, OEMs, and hyperscalers; silicon IP, such as interface and security IP solutions that move and protect data in advanced data center, government, and automotive applications; and interface IP solutions for high-speed memory and chip-to-chip digital controller IP.