Sequoia Financial Advisors LLC Grows Stock Holdings in Rambus Inc. (NASDAQ:RMBS)

Sequoia Financial Advisors LLC raised its stake in shares of Rambus Inc. (NASDAQ:RMBSFree Report) by 5.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,149 shares of the semiconductor company’s stock after purchasing an additional 343 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Rambus were worth $399,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. BlackRock Inc. increased its stake in Rambus by 2.9% during the 2nd quarter. BlackRock Inc. now owns 18,383,271 shares of the semiconductor company’s stock valued at $1,179,655,000 after purchasing an additional 518,961 shares in the last quarter. Vanguard Group Inc. increased its stake in 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 purchasing an additional 314,467 shares in the last quarter. State Street Corp increased its stake in 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 purchasing an additional 155,076 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Rambus by 11.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,177,657 shares of the semiconductor company’s stock valued at $268,080,000 after acquiring an additional 421,143 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Rambus by 5.2% in the 2nd quarter. Geode Capital Management LLC now owns 2,224,659 shares of the semiconductor company’s stock valued at $142,790,000 after acquiring an additional 110,051 shares during the last quarter. Institutional investors and hedge funds own 86.15% of the company’s stock.

Rambus Stock Performance

Shares of NASDAQ RMBS opened at $58.70 on Friday. The company’s fifty day moving average price is $67.38 and its 200 day moving average price is $60.95. Rambus Inc. has a 1 year low of $40.48 and a 1 year high of $76.38. The company has a market capitalization of $6.31 billion, a PE ratio of 19.57 and a beta of 1.22.

Analysts Set New Price Targets

RMBS has been the topic of several recent research reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Rambus in a report on Tuesday. Wells Fargo & Company upped their price objective on shares of Rambus from $80.00 to $85.00 and gave the company an “overweight” rating in a report 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 company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $73.20.

Read Our Latest Stock Analysis on Rambus

Insider Buying and Selling

In related news, CFO Desmond Lynch sold 1,527 shares of the stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $64.64, for a total transaction of $98,705.28. Following the sale, the chief financial officer now directly owns 64,198 shares of the company’s stock, valued at $4,149,758.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Rambus news, COO Xianzhi Sean Fan sold 16,904 shares of the stock in a transaction on Monday, December 11th. The shares were sold at an average price of $66.35, for a total transaction of $1,121,580.40. Following the transaction, the chief operating officer now directly owns 151,319 shares of the company’s stock, valued at $10,040,015.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Desmond Lynch sold 1,527 shares of the stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $64.64, for a total transaction of $98,705.28. Following the transaction, the chief financial officer now directly owns 64,198 shares in the company, valued at $4,149,758.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,431 shares of company stock valued at $1,354,106. Corporate insiders own 1.00% of the company’s stock.

Rambus Profile

(Free Report)

Rambus Inc provides semiconductor products in the United States, Taiwan, South Korea, Japan, Europe, Canada, Singapore, China, and internationally. The company offers DDR memory interface chips, including DDR5 and DDR4 memory interface chips to module manufacturers, and OEMs; silicon IP comprising, interface and security IP solutions that move and protect data in advanced data center, government, and automotive applications; and physical interface and digital controller IP to offer industry-leading, integrated memory, and interconnect subsystems.

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Institutional Ownership by Quarter for Rambus (NASDAQ:RMBS)

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