Raymond James & Associates Boosts Position in Rambus Inc. (NASDAQ:RMBS)

Raymond James & Associates increased its stake in Rambus Inc. (NASDAQ:RMBS) by 156.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,137 shares of the semiconductor company’s stock after buying an additional 19,582 shares during the period. Raymond James & Associates’ holdings in Rambus were worth $2,193,000 as of its most recent SEC filing.

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

Rambus Stock Down 0.5 %

Shares of Rambus stock opened at $58.72 on Wednesday. The firm’s 50 day moving average price is $59.94 and its 200-day moving average price is $62.65. Rambus Inc. has a 52-week low of $43.58 and a 52-week high of $76.38. The company has a market cap of $6.38 billion, a P/E ratio of 19.57 and a beta of 1.16.

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

Insider Buying and Selling

In related news, CEO Luc Seraphin sold 15,000 shares of Rambus stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $61.35, for a total value of $920,250.00. Following the completion of the sale, the chief executive officer now directly owns 268,321 shares in the company, valued at approximately $16,461,493.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Luc Seraphin sold 15,000 shares of Rambus stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $61.35, for a total value of $920,250.00. Following the completion of the sale, the chief executive officer now directly owns 268,321 shares in the company, valued at approximately $16,461,493.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP John Shinn sold 3,928 shares of Rambus stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $64.93, for a total transaction of $255,045.04. Following the sale, the senior vice president now owns 28,448 shares of the company’s stock, valued at $1,847,128.64. The disclosure for this sale can be found here. Insiders sold 115,554 shares of company stock worth $7,083,908 in the last three months. Corporate insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

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

Rambus Company 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.