Rambus Inc. (NASDAQ:RMBS) Shares Sold by Citigroup Inc.

Citigroup Inc. trimmed its position in shares of Rambus Inc. (NASDAQ:RMBS – Get Rating) by 10.7% during the fourth quarter, Holdings Channel reports. The firm owned 88,587 shares of the semiconductor company’s stock after selling 10,614 shares during the quarter. Citigroup Inc.’s holdings in Rambus were worth $3,173,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in RMBS. Mesirow Institutional Investment Management Inc. acquired a new position in Rambus during the third quarter worth $9,570,000. Vanguard Group Inc. raised its stake in shares of Rambus by 2.6% in the third quarter. Vanguard Group Inc. now owns 12,586,966 shares of the semiconductor company’s stock valued at $319,960,000 after acquiring an additional 314,467 shares in the last quarter. BlackRock Inc. raised its stake in shares of Rambus by 1.6% in the third quarter. BlackRock Inc. now owns 17,120,075 shares of the semiconductor company’s stock valued at $435,192,000 after acquiring an additional 269,773 shares in the last quarter. Lord Abbett & CO. LLC raised its stake in shares of Rambus by 13.1% in the third quarter. Lord Abbett & CO. LLC now owns 2,098,093 shares of the semiconductor company’s stock valued at $53,333,000 after acquiring an additional 242,562 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Rambus by 2,157.0% in the second quarter. Renaissance Technologies LLC now owns 205,386 shares of the semiconductor company’s stock valued at $4,414,000 after acquiring an additional 196,286 shares in the last quarter. 85.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Jefferies Financial Group upgraded Rambus from a “hold” rating to a “buy” rating in a research note on Thursday, May 18th. Susquehanna increased their price objective on Rambus from $36.00 to $60.00 and gave the company a “positive” rating in a research note on Friday, February 3rd. Wells Fargo & Company increased their price objective on Rambus from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, April 11th. StockNews.com began coverage on Rambus in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $60.00 price target on shares of Rambus in a report on Wednesday, April 5th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.17.

Insider Transactions at Rambus

In other news, CEO Luc Seraphin sold 4,556 shares of Rambus stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $49.39, for a total transaction of $225,020.84. Following the sale, the chief executive officer now owns 255,332 shares in the company, valued at $12,610,847.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 117,056 shares of company stock worth $5,500,146. Corporate insiders own 1.00% of the company’s stock.

Rambus Stock Performance

RMBS opened at $58.70 on Tuesday. The business’s 50-day simple moving average is $48.12 and its 200-day simple moving average is $42.71. Rambus Inc. has a one year low of $20.00 and a one year high of $59.95. The stock has a market capitalization of $6.39 billion, a P/E ratio of 119.80 and a beta of 1.32.

Rambus (NASDAQ:RMBS – Get Rating) last posted its earnings results on Monday, May 1st. The semiconductor company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.39). Rambus had a return on equity of 21.75% and a net margin of 11.76%. The firm had revenue of $113.76 million for the quarter, compared to analyst estimates of $145.99 million. During the same quarter last year, the firm posted $0.34 EPS. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. On average, equities research analysts forecast that Rambus Inc. will post 1.45 EPS for the current fiscal year.

Rambus Company Profile

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Rambus, Inc engages in the provision of cutting-edge semiconductor and Internet Protocol products, spanning memory and interfaces to security, smart sensors and lighting. Its products include Memory Interface Chips, Interface IP, and Security IP. The company was founded by P. Michael Farmwald and Mark A.