Sequoia Financial Advisors LLC Sells 678 Shares of Rambus Inc. (NASDAQ:RMBS)

Sequoia Financial Advisors LLC cut its stake in Rambus Inc. (NASDAQ:RMBS) by 9.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,471 shares of the semiconductor company’s stock after selling 678 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Rambus were worth $442,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of RMBS. BlackRock Inc. boosted its position in shares of Rambus by 1.7% during the first quarter. BlackRock Inc. now owns 17,864,310 shares of the semiconductor company’s stock valued at $915,725,000 after purchasing an additional 295,147 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Rambus by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 12,586,966 shares of the semiconductor company’s stock valued at $319,960,000 after buying an additional 314,467 shares in the last quarter. State Street Corp boosted its holdings in shares of Rambus by 3.3% during the 3rd quarter. State Street Corp now owns 4,855,801 shares of the semiconductor company’s stock valued at $123,434,000 after buying an additional 155,076 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Rambus by 14.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,794,327 shares of the semiconductor company’s stock worth $267,476,000 after buying an additional 616,670 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in shares of Rambus by 19.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,134,868 shares of the semiconductor company’s stock worth $174,893,000 after acquiring an additional 515,657 shares in the last quarter. 88.54% of the stock is owned by hedge funds and other institutional investors.

Rambus Stock Performance

Shares of NASDAQ RMBS opened at $57.25 on Thursday. The firm’s 50 day moving average price is $60.01 and its 200-day moving average price is $62.62. The company has a market cap of $6.22 billion, a PE ratio of 19.08 and a beta of 1.16. Rambus Inc. has a 52-week low of $43.58 and a 52-week high of $76.38.

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

Insiders Place Their Bets

In related news, CEO Luc Seraphin sold 5,530 shares of the stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $58.66, for a total transaction of $324,389.80. Following the sale, the chief executive officer now directly owns 262,791 shares of the company’s stock, valued at $15,415,320.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Luc Seraphin sold 5,530 shares of Rambus stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $58.66, for a total value of $324,389.80. Following the completion of the sale, the chief executive officer now directly owns 262,791 shares in the company, valued at $15,415,320.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP John Shinn sold 3,947 shares of the stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $62.71, for a total transaction of $247,516.37. Following the transaction, the senior vice president now owns 16,663 shares in the company, valued at approximately $1,044,936.73. The disclosure for this sale can be found here. In the last quarter, insiders sold 121,084 shares of company stock valued at $7,408,298. Corporate insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

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

About Rambus

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.