Rambus, Inc. (NASDAQ:RMBS) Shares Bought by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC boosted its position in shares of Rambus, Inc. (NASDAQ:RMBS) by 19.1% during the 1st quarter, Holdings Channel reports. The institutional investor owned 5,041 shares of the semiconductor company’s stock after acquiring an additional 808 shares during the period. Sequoia Financial Advisors LLC’s holdings in Rambus were worth $261,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RMBS. Price T Rowe Associates Inc. MD grew its position in Rambus by 442.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,449,128 shares of the semiconductor company’s stock valued at $288,042,000 after buying an additional 4,445,146 shares during the period. Invesco Ltd. grew its position in Rambus by 72.1% during the fourth quarter. Invesco Ltd. now owns 4,999,748 shares of the semiconductor company’s stock valued at $264,287,000 after buying an additional 2,093,953 shares during the period. Norges Bank acquired a new stake in Rambus during the fourth quarter valued at $94,368,000. Raymond James Financial Inc. acquired a new stake in Rambus during the fourth quarter valued at $51,500,000. Finally, Analog Century Management LP acquired a new stake in Rambus during the fourth quarter valued at $43,625,000. Institutional investors and hedge funds own 88.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RMBS. Rosenblatt Securities reiterated a “buy” rating and issued a $80.00 target price on shares of Rambus in a research report on Tuesday, April 29th. Wall Street Zen lowered shares of Rambus from a “buy” rating to a “hold” rating in a research report on Monday, May 19th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $75.00.

Insider Activity

In related news, CEO Luc Seraphin sold 6,348 shares of the business’s stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $46.97, for a total transaction of $298,165.56. Following the transaction, the chief executive officer directly owned 319,241 shares in the company, valued at approximately $14,994,749.77. The trade was a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Steven Laub sold 1,847 shares of the business’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $55.12, for a total transaction of $101,806.64. Following the transaction, the director owned 9,057 shares in the company, valued at $499,221.84. The trade was a 16.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,848 shares of company stock worth $1,548,933. Company insiders own 1.00% of the company’s stock.

Rambus Stock Up 1.6%

Shares of NASDAQ RMBS opened at $66.06 on Friday. The company’s 50-day simple moving average is $56.34 and its 200-day simple moving average is $56.01. Rambus, Inc. has a 52-week low of $37.43 and a 52-week high of $69.15. The firm has a market cap of $7.10 billion, a price-to-earnings ratio of 34.41 and a beta of 1.24.

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.