B. Riley Wealth Advisors Inc. Reduces Stake in Rambus Inc. (NASDAQ:RMBS)

B. Riley Wealth Advisors Inc. lowered its holdings in Rambus Inc. (NASDAQ:RMBS) by 24.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 6,639 shares of the semiconductor company’s stock after selling 2,103 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Rambus were worth $453,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Coldstream Capital Management Inc. grew its stake in Rambus by 3.9% during the 4th quarter. Coldstream Capital Management Inc. now owns 4,632 shares of the semiconductor company’s stock worth $316,000 after buying an additional 173 shares during the last quarter. Fifth Third Bancorp grew its stake in Rambus by 65.8% during the 4th quarter. Fifth Third Bancorp now owns 504 shares of the semiconductor company’s stock worth $34,000 after buying an additional 200 shares during the last quarter. Blue Trust Inc. grew its stake in Rambus by 100.4% during the 4th quarter. Blue Trust Inc. now owns 447 shares of the semiconductor company’s stock worth $31,000 after buying an additional 224 shares during the last quarter. Evergreen Capital Management LLC grew its stake in Rambus by 4.6% during the 3rd quarter. Evergreen Capital Management LLC now owns 8,655 shares of the semiconductor company’s stock worth $483,000 after buying an additional 379 shares during the last quarter. Finally, Public Employees Retirement System of Ohio grew its stake in Rambus by 9.7% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 5,147 shares of the semiconductor company’s stock worth $287,000 after buying an additional 454 shares during the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Price Performance

RMBS opened at $53.42 on Tuesday. The business has a 50 day simple moving average of $56.48 and a 200-day simple moving average of $61.23. The stock has a market capitalization of $5.76 billion, a P/E ratio of 16.34 and a beta of 1.19. Rambus Inc. has a 12 month low of $48.13 and a 12 month high of $76.38.

Rambus (NASDAQ:RMBS) last posted its quarterly earnings results on Monday, April 29th. The semiconductor company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.36 by $0.02. The business had revenue of $133.60 million during the quarter, compared to analysts’ expectations of $132.00 million. Rambus had a return on equity of 16.99% and a net margin of 78.14%. Research analysts anticipate that Rambus Inc. will post 1.36 EPS for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 price objective on shares of Rambus in a research report on Wednesday, March 13th. Jefferies Financial Group reaffirmed a “buy” rating and set a $75.00 price objective (up from $72.00) on shares of Rambus in a research report on Monday, May 13th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $80.00.

Insider Activity

In related news, CEO Luc Seraphin sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $61.35, for a total value of $920,250.00. Following the completion of the transaction, the chief executive officer now directly owns 268,321 shares of the company’s stock, valued at approximately $16,461,493.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Luc Seraphin sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $61.35, for a total value of $920,250.00. Following the completion of the transaction, the chief executive officer now directly owns 268,321 shares of the company’s stock, valued at approximately $16,461,493.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eric B. Stang sold 5,408 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $56.95, for a total value of $307,985.60. Following the completion of the transaction, the director now directly owns 32,422 shares of the company’s stock, valued at $1,846,432.90. The disclosure for this sale can be found here. Insiders sold 40,938 shares of company stock valued at $2,451,575 in the last three months. 1.00% of the stock is currently owned by company insiders.

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.