Raymond James Financial Services Advisors Inc. Reduces Stock Holdings in Rambus Inc. (NASDAQ:RMBS)

Raymond James Financial Services Advisors Inc. decreased its holdings in Rambus Inc. (NASDAQ:RMBS) by 46.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,364 shares of the semiconductor company’s stock after selling 3,728 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Rambus were worth $298,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RMBS. Orion Capital Management LLC purchased a new stake in Rambus in the third quarter worth $39,000. Geneos Wealth Management Inc. purchased a new stake in Rambus in the third quarter worth $56,000. NBC Securities Inc. purchased a new stake in Rambus in the third quarter worth $72,000. Exchange Traded Concepts LLC purchased a new stake in Rambus in the third quarter worth $78,000. Finally, Covestor Ltd lifted its stake in Rambus by 50.6% in the third quarter. Covestor Ltd now owns 1,455 shares of the semiconductor company’s stock worth $81,000 after acquiring an additional 489 shares during the period. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Insider Transactions at Rambus

In other news, CEO Luc Seraphin sold 5,530 shares of Rambus stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $58.66, for a total value of $324,389.80. Following the completion of the transaction, the chief executive officer now owns 262,791 shares of the company’s stock, valued at approximately $15,415,320.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Desmond Lynch sold 7,837 shares of Rambus stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $62.18, for a total value of $487,304.66. Following the completion of the sale, the chief financial officer now directly owns 41,958 shares in the company, valued at approximately $2,608,948.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Luc Seraphin sold 5,530 shares of Rambus stock in a transaction dated Tuesday, April 16th. The stock was 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 owns 262,791 shares of the company’s stock, valued at $15,415,320.06. The disclosure for this sale can be found here. Insiders sold a total of 121,084 shares of company stock valued at $7,408,298 in the last quarter. 1.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on RMBS shares. Wells Fargo & Company raised 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. Rosenblatt Securities reissued a “buy” rating and set a $85.00 price objective on shares of Rambus in a research report on Wednesday, March 13th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Rambus has a consensus rating of “Moderate Buy” and a consensus target price of $73.20.

Rambus Trading Up 0.1 %

Shares of Rambus stock opened at $54.73 on Tuesday. The firm has a market capitalization of $5.94 billion, a P/E ratio of 18.24 and a beta of 1.16. The business has a fifty day simple moving average of $59.87 and a two-hundred day simple moving average of $62.64. Rambus Inc. has a 12 month low of $43.58 and a 12 month high of $76.38.

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

Rambus Company 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.