Sei Investments Co. Sells 37,032 Shares of Rambus Inc. (NASDAQ:RMBS)

Sei Investments Co. reduced its position in shares of Rambus Inc. (NASDAQ:RMBS) by 10.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 306,072 shares of the semiconductor company’s stock after selling 37,032 shares during the quarter. Sei Investments Co.’s holdings in Rambus were worth $16,179,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Lindbrook Capital LLC raised its stake in shares of Rambus by 12.3% during the fourth quarter. Lindbrook Capital LLC now owns 1,513 shares of the semiconductor company’s stock valued at $80,000 after acquiring an additional 166 shares during the last quarter. Arizona State Retirement System increased its holdings in Rambus by 0.7% during the 4th quarter. Arizona State Retirement System now owns 31,237 shares of the semiconductor company’s stock valued at $1,651,000 after purchasing an additional 202 shares during the period. Nations Financial Group Inc. IA ADV raised its position in Rambus by 2.8% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 8,925 shares of the semiconductor company’s stock valued at $472,000 after purchasing an additional 246 shares during the last quarter. Quarry LP lifted its holdings in Rambus by 40.3% in the 3rd quarter. Quarry LP now owns 919 shares of the semiconductor company’s stock worth $39,000 after buying an additional 264 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its holdings in Rambus by 7.9% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,321 shares of the semiconductor company’s stock worth $252,000 after buying an additional 317 shares during the period. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Evercore ISI started coverage on Rambus in a research note on Tuesday, February 4th. They set an “outperform” rating and a $71.00 target price on the stock. Wells Fargo & Company boosted their price objective on shares of Rambus from $62.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Susquehanna upped their price objective on shares of Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a report on Tuesday, February 4th. Rosenblatt Securities lifted their target price on shares of Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Finally, Robert W. Baird set a $90.00 price target on shares of Rambus in a research report on Monday, February 3rd. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Rambus presently has an average rating of “Buy” and a consensus price target of $76.71.

Rambus Price Performance

NASDAQ:RMBS opened at $53.70 on Friday. The company has a market capitalization of $5.77 billion, a PE ratio of 32.35 and a beta of 1.25. Rambus Inc. has a 1-year low of $37.43 and a 1-year high of $69.15. The firm’s 50-day moving average price is $59.37 and its 200-day moving average price is $53.33.

Insider Transactions at Rambus

In other Rambus news, CEO Luc Seraphin sold 10,000 shares of Rambus stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $53.79, for a total transaction of $537,900.00. Following the completion of the transaction, the chief executive officer now owns 316,931 shares in the company, valued at approximately $17,047,718.49. The trade was a 3.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Xianzhi Sean Fan sold 52,327 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $68.02, for a total value of $3,559,282.54. Following the completion of the sale, the chief operating officer now directly owns 93,841 shares in the company, valued at approximately $6,383,064.82. This represents a 35.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,952 shares of company stock valued at $4,992,255 in the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

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.