Rambus, Inc. $RMBS Stock Position Cut by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. reduced its stake in Rambus, Inc. by 3.5%, selling 34,572 shares, and now holds approximately 0.87% of the company valued at $48.65 million.
• Rambus shares recently opened at $70.44, with a market capitalization of $7.58 billion and a price-to-earnings ratio of 33.23.
• Recent analyst activity included upgrades from Jefferies Financial Group and Susquehanna, with target prices raised to $75, while Wall Street Zen downgraded the stock from "buy" to "hold."

Raymond James Financial Inc. cut its stake in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 3.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 939,712 shares of the semiconductor company's stock after selling 34,572 shares during the period. Raymond James Financial Inc. owned 0.87% of Rambus worth $48,653,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise acquired a new stake in Rambus in the first quarter valued at $25,000. Tsfg LLC acquired a new stake in Rambus in the first quarter valued at $26,000. Orion Capital Management LLC acquired a new stake in Rambus in the fourth quarter valued at $37,000. Larson Financial Group LLC raised its holdings in Rambus by 1,260.3% in the first quarter. Larson Financial Group LLC now owns 857 shares of the semiconductor company's stock valued at $44,000 after acquiring an additional 794 shares in the last quarter. Finally, Quarry LP raised its holdings in Rambus by 26.9% in the fourth quarter. Quarry LP now owns 1,166 shares of the semiconductor company's stock valued at $62,000 after acquiring an additional 247 shares in the last quarter. 88.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on RMBS shares. Susquehanna upped their price target on shares of Rambus from $70.00 to $75.00 and gave the company a "positive" rating in a report on Tuesday, July 29th. Wall Street Zen lowered shares of Rambus from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. Jefferies Financial Group boosted their target price on shares of Rambus from $69.00 to $75.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Finally, Rosenblatt Securities boosted their target price on shares of Rambus from $80.00 to $90.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $77.71.

Rambus Stock Performance

Shares of Rambus stock traded up $0.02 during trading on Wednesday, hitting $75.05. 1,037,753 shares of the stock were exchanged, compared to its average volume of 1,211,976. The stock's fifty day moving average is $68.43 and its 200 day moving average is $59.18. The stock has a market cap of $8.07 billion, a PE ratio of 35.40 and a beta of 1.28. Rambus, Inc. has a 12 month low of $37.42 and a 12 month high of $78.16.

Insider Activity

In other news, Director Necip Sayiner sold 7,500 shares of the company's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $73.53, for a total transaction of $551,475.00. Following the completion of the transaction, the director owned 38,324 shares in the company, valued at approximately $2,817,963.72. This represents a 16.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Emiko Higashi sold 1,111 shares of the company's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $75.00, for a total transaction of $83,325.00. Following the transaction, the director owned 63,371 shares of the company's stock, valued at $4,752,825. This represents a 1.72% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,686 shares of company stock valued at $718,381 in the last 90 days. Insiders own 1.00% of the company's stock.

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.