Sei Investments Co. Reduces Holdings in Rambus, Inc. $RMBS

Key Points

• Sei Investments cut its Rambus stake by 12.1% in the first quarter, selling 46,814 shares and retaining 339,931 shares worth approximately $29.2 million. Institutional investors collectively own 88.54% of RMBS.
• Rambus reported quarterly EPS of $0.63, beating analyst expectations of $0.61, while revenue of $180.19 million slightly exceeded estimates. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $134.75.
• Rambus shares opened at $96.42, with a market capitalization of $10.43 billion, while company insiders sold 62,914 shares valued at approximately $9.7 million over the past 90 days.

Sei Investments Co. decreased its stake in shares of Rambus, Inc. (NASDAQ:RMBS - Free Report) by 12.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 339,931 shares of the semiconductor company's stock after selling 46,814 shares during the period. Sei Investments Co. owned approximately 0.31% of Rambus worth $29,244,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of RMBS. Krilogy Financial LLC lifted its holdings in Rambus by 3.8% in the first quarter. Krilogy Financial LLC now owns 2,238 shares of the semiconductor company's stock worth $193,000 after buying an additional 81 shares during the period. Oak Grove Capital LLC grew its holdings in shares of Rambus by 1.3% during the 4th quarter. Oak Grove Capital LLC now owns 7,600 shares of the semiconductor company's stock worth $698,000 after acquiring an additional 100 shares during the period. Northwestern Mutual Investment Management Company LLC grew its holdings in shares of Rambus by 0.4% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 24,085 shares of the semiconductor company's stock worth $2,213,000 after acquiring an additional 103 shares during the period. Balefire LLC raised its position in shares of Rambus by 3.8% in the 1st quarter. Balefire LLC now owns 2,932 shares of the semiconductor company's stock worth $252,000 after acquiring an additional 108 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC lifted its stake in shares of Rambus by 3.3% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,445 shares of the semiconductor company's stock valued at $317,000 after purchasing an additional 110 shares during the period. Hedge funds and other institutional investors own 88.54% of the company's stock.

Rambus Stock Up 0.4%

Rambus stock opened at $96.42 on Tuesday. Rambus, Inc. has a twelve month low of $63.30 and a twelve month high of $174.10. The company has a market capitalization of $10.43 billion, a P/E ratio of 45.91 and a beta of 1.84. The stock's 50 day moving average is $128.23 and its 200 day moving average is $114.40.

Rambus (NASDAQ:RMBS - Get Free Report) last announced its quarterly earnings data on Monday, April 27th. The semiconductor company reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.02. Rambus had a return on equity of 17.41% and a net margin of 31.90%.The business had revenue of $180.19 million during the quarter, compared to analysts' expectations of $179.94 million. As a group, equities analysts expect that Rambus, Inc. will post 2.44 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Benchmark assumed coverage on Rambus in a research note on Wednesday, July 15th. They issued a "buy" rating and a $165.00 price target on the stock. Evercore reissued an "outperform" rating and set a $172.00 price objective on shares of Rambus in a research report on Tuesday, April 28th. Robert W. Baird cut shares of Rambus from an "outperform" rating to a "neutral" rating and set a $120.00 target price on the stock. in a report on Tuesday, April 28th. Rosenblatt Securities increased their price target on shares of Rambus from $130.00 to $150.00 and gave the stock a "buy" rating in a research note on Tuesday, April 28th. Finally, Jefferies Financial Group lifted their price target on shares of Rambus from $120.00 to $145.00 and gave the company a "buy" rating in a research report on Tuesday, April 28th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $134.75.

Insider Buying and Selling

In related news, Director Eric B. Stang sold 5,000 shares of the company's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $146.00, for a total value of $730,000.00. Following the transaction, the director owned 19,218 shares in the company, valued at $2,805,828. The trade was a 20.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Xianzhi Sean Fan sold 37,914 shares of the company's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $151.69, for a total transaction of $5,751,174.66. Following the completion of the transaction, the executive vice president owned 168,358 shares in the company, valued at approximately $25,538,225.02. The trade was a 18.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 62,914 shares of company stock valued at $9,724,775 over the last ninety days. Insiders own 0.75% of the company's stock.

Rambus Company Profile

Rambus Inc is a technology licensing company specializing in semiconductor and system-level interface solutions. Founded in 1990 by Stanford University researchers Mike Farmwald and Mark Horowitz, Rambus established its headquarters in Sunnyvale, California. The company initially gained prominence by developing high-speed DRAM interface technology and securing a broad patent portfolio covering memory architecture, data signaling and power management innovations.

Today, Rambus licenses its proprietary intellectual property (IP) to semiconductor companies, original equipment manufacturers (OEMs) and system integrators worldwide.

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