Sei Investments Co. Decreases Stock Position in Rambus, Inc. $RMBS

Sei Investments Co. cut its holdings in Rambus, Inc. (NASDAQ:RMBS) by 12.1% during the 1st quarter, HoldingsChannel.com reports. The fund owned 339,931 shares of the semiconductor company’s stock after selling 46,814 shares during the period. Sei Investments Co.’s holdings in Rambus were worth $29,244,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. M&T Bank Corp boosted its position in shares of Rambus by 2,372.0% during the fourth quarter. M&T Bank Corp now owns 122,636 shares of the semiconductor company’s stock valued at $11,269,000 after buying an additional 117,675 shares during the last quarter. AMJ Financial Wealth Management increased its holdings in Rambus by 252.0% in the 4th quarter. AMJ Financial Wealth Management now owns 94,946 shares of the semiconductor company’s stock worth $8,725,000 after buying an additional 67,973 shares in the last quarter. Novem Group purchased a new position in Rambus in the 4th quarter worth about $885,000. Universal Beteiligungs und Servicegesellschaft mbH raised its position in Rambus by 162.6% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 137,692 shares of the semiconductor company’s stock worth $12,721,000 after buying an additional 85,257 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Rambus by 21.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 157,148 shares of the semiconductor company’s stock valued at $14,440,000 after acquiring an additional 27,472 shares during the period. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Rambus Stock Performance

Shares of NASDAQ:RMBS opened at $96.42 on Tuesday. The stock has a market capitalization of $10.43 billion, a price-to-earnings ratio of 45.91 and a beta of 1.84. The stock’s 50-day simple moving average is $128.23 and its two-hundred day simple moving average is $114.40. Rambus, Inc. has a 52-week low of $63.30 and a 52-week high of $174.10.

Rambus (NASDAQ:RMBS) last released its quarterly earnings results on Monday, April 27th. The semiconductor company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. Rambus had a return on equity of 17.41% and a net margin of 31.90%.The business had revenue of $180.19 million during the quarter, compared to the consensus estimate of $179.94 million. As a group, equities analysts forecast that Rambus, Inc. will post 2.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RMBS. Benchmark initiated coverage on shares of Rambus in a report on Wednesday, July 15th. They set a “buy” rating and a $165.00 price target on the stock. Rosenblatt Securities boosted their price objective on shares of Rambus from $130.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Wells Fargo & Company increased their price objective on shares of Rambus from $115.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Evercore restated an “outperform” rating and issued a $172.00 target price on shares of Rambus in a report on Tuesday, April 28th. Finally, Robert W. Baird downgraded shares of Rambus from an “outperform” rating to a “neutral” rating and set a $120.00 target price for the company. in a research report on Tuesday, April 28th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $134.75.

Insider Buying and Selling at Rambus

In other Rambus news, Director Necip Sayiner sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $170.15, for a total transaction of $850,750.00. Following the completion of the sale, the director directly owned 18,223 shares of the company’s stock, valued at approximately $3,100,643.45. This represents a 21.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Emiko Higashi sold 10,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $160.50, for a total transaction of $1,605,000.00. Following the completion of the transaction, the director owned 49,519 shares in the company, valued at $7,947,799.50. The trade was a 16.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 62,914 shares of company stock worth $9,724,775. 0.75% of the stock is owned by corporate insiders.

Rambus Company Profile

Rambus Inc is a technology licensing company specializing in semiconductor and system-level interface solutions. Founded in 1990 by Stanford University researchers Mike Farmwald and Mark Horowitz, Rambus established its headquarters in Sunnyvale, California. The company initially gained prominence by developing high-speed DRAM interface technology and securing a broad patent portfolio covering memory architecture, data signaling and power management innovations.

Today, Rambus licenses its proprietary intellectual property (IP) to semiconductor companies, original equipment manufacturers (OEMs) and system integrators worldwide.