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

Sei Investments Co. lowered its stake in shares of Rambus Inc. (NASDAQ:RMBS) by 10.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 306,072 shares of the semiconductor company’s stock after selling 37,032 shares during the quarter. Sei Investments Co. owned approximately 0.29% of Rambus worth $16,179,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. American Century Companies Inc. raised its holdings in shares of Rambus by 6.8% in the 4th quarter. American Century Companies Inc. now owns 1,176,352 shares of the semiconductor company’s stock worth $62,182,000 after purchasing an additional 74,478 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in shares of Rambus in the fourth quarter valued at $192,000. Xponance Inc. lifted its position in shares of Rambus by 3.6% during the 4th quarter. Xponance Inc. now owns 15,223 shares of the semiconductor company’s stock valued at $805,000 after buying an additional 526 shares during the last quarter. Cibc World Markets Corp bought a new position in shares of Rambus during the 4th quarter worth $529,000. Finally, Polen Capital Management LLC grew its stake in shares of Rambus by 76.8% during the 4th quarter. Polen Capital Management LLC now owns 99,259 shares of the semiconductor company’s stock worth $5,247,000 after acquiring an additional 43,109 shares during the period. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on RMBS shares. Robert W. Baird set a $90.00 price objective on Rambus in a research note on Monday, February 3rd. StockNews.com lowered shares of Rambus from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Susquehanna raised 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 price objective 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, Wells Fargo & Company raised their price target on Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Rambus has a consensus rating of “Buy” and a consensus price target of $76.71.

Insider Activity

In other news, COO Xianzhi Sean Fan sold 52,327 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were 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. The trade was a 35.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Necip Sayiner sold 4,625 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $66.74, for a total transaction of $308,672.50. Following the completion of the sale, the director now directly owns 42,000 shares of the company’s stock, valued at $2,803,080. This trade represents a 9.92 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 76,952 shares of company stock worth $4,992,255. 1.00% of the stock is currently owned by corporate insiders.

Rambus Price Performance

Shares of Rambus stock opened at $53.70 on Friday. Rambus Inc. has a 1 year low of $37.43 and a 1 year high of $69.15. The firm has a market cap of $5.77 billion, a PE ratio of 32.35 and a beta of 1.25. The company has a 50 day simple moving average of $59.37 and a two-hundred day simple moving average of $53.33.

About Rambus

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.