Envestnet Asset Management Inc. Increases Stock Position in Rambus Inc. (NASDAQ:RMBS)

Envestnet Asset Management Inc. raised its holdings in Rambus Inc. (NASDAQ:RMBSGet Rating) by 43.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,314 shares of the semiconductor company’s stock after purchasing an additional 14,123 shares during the period. Envestnet Asset Management Inc.’s holdings in Rambus were worth $995,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. State Board of Administration of Florida Retirement System raised its position in shares of Rambus by 0.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 62,147 shares of the semiconductor company’s stock valued at $1,982,000 after buying an additional 414 shares during the last quarter. Penserra Capital Management LLC raised its position in shares of Rambus by 8.7% in the first quarter. Penserra Capital Management LLC now owns 7,101 shares of the semiconductor company’s stock valued at $226,000 after buying an additional 571 shares during the last quarter. New Century Advisors LLC raised its position in shares of Rambus by 7.7% in the second quarter. New Century Advisors LLC now owns 8,354 shares of the semiconductor company’s stock valued at $180,000 after buying an additional 594 shares during the last quarter. JB Capital LLC raised its position in shares of Rambus by 3.1% in the second quarter. JB Capital LLC now owns 21,347 shares of the semiconductor company’s stock valued at $459,000 after buying an additional 651 shares during the last quarter. Finally, Mutual of America Capital Management LLC raised its position in shares of Rambus by 5.5% in the first quarter. Mutual of America Capital Management LLC now owns 15,759 shares of the semiconductor company’s stock valued at $503,000 after buying an additional 817 shares during the last quarter. Hedge funds and other institutional investors own 86.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Rambus from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Tuesday, November 1st. Rosenblatt Securities upped their price target on shares of Rambus from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, November 1st. Susquehanna upped their price target on shares of Rambus from $33.00 to $36.00 and gave the stock a “positive” rating in a research report on Tuesday, November 1st. Susquehanna Bancshares upped their price target on shares of Rambus from $33.00 to $36.00 and gave the stock a “positive” rating in a research report on Tuesday, November 1st. Finally, StockNews.com assumed coverage on shares of Rambus in a research report on Wednesday, October 12th. They set a “buy” rating for the company. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $35.80.

Rambus Stock Up 1.3 %

Rambus stock opened at $37.75 on Friday. Rambus Inc. has a 52-week low of $20.00 and a 52-week high of $38.88. The firm has a fifty day moving average of $30.38 and a 200-day moving average of $26.41. The firm has a market capitalization of $4.06 billion, a P/E ratio of -164.12 and a beta of 1.17.

Rambus (NASDAQ:RMBSGet Rating) last released its quarterly earnings data on Monday, October 31st. The semiconductor company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.40). Rambus had a positive return on equity of 20.24% and a negative net margin of 5.69%. The business had revenue of $112.20 million during the quarter, compared to analyst estimates of $141.00 million. During the same period in the previous year, the company earned $0.29 EPS. Rambus’s revenue was up 38.0% on a year-over-year basis. On average, research analysts expect that Rambus Inc. will post 1.52 EPS for the current fiscal year.

Insider Activity

In other news, Director Eric B. Stang sold 7,500 shares of the company’s stock in a transaction on Thursday, November 3rd. The shares were sold at an average price of $34.25, for a total value of $256,875.00. Following the completion of the transaction, the director now directly owns 33,180 shares in the company, valued at $1,136,415. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Necip Sayiner sold 15,000 shares of the company’s stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $38.16, for a total value of $572,400.00. Following the completion of the transaction, the director now directly owns 27,873 shares in the company, valued at $1,063,633.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eric B. Stang sold 7,500 shares of the company’s stock in a transaction on Thursday, November 3rd. The shares were sold at an average price of $34.25, for a total transaction of $256,875.00. Following the completion of the transaction, the director now owns 33,180 shares of the company’s stock, valued at $1,136,415. The disclosure for this sale can be found here. Over the last three months, insiders sold 127,124 shares of company stock worth $4,825,048. 1.53% of the stock is currently owned by company insiders.

Rambus Profile

(Get Rating)

Rambus Inc provides semiconductor products in the United States, Taiwan, South Korea, Japan, Europe, Canada, Singapore, China, and internationally. The company offers DDR memory interface chips, including DDR5, DDR4 and DDR3 memory interface chips to module manufacturers and OEMs; silicon IP comprising, interface and security IP solutions that move and protect data in advanced applications; and physical interface and digital controller IP to offer industry-leading, integrated memory and interconnect subsystems.

Further Reading

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Institutional Ownership by Quarter for Rambus (NASDAQ:RMBS)

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