Rambus, Inc. $RMBS Shares Bought by Penserra Capital Management LLC

Penserra Capital Management LLC raised its position in Rambus, Inc. (NASDAQ:RMBS) by 445.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,162 shares of the semiconductor company’s stock after buying an additional 27,899 shares during the quarter. Penserra Capital Management LLC’s holdings in Rambus were worth $3,559,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Farther Finance Advisors LLC raised its position in Rambus by 19.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,045 shares of the semiconductor company’s stock valued at $109,000 after purchasing an additional 167 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Rambus by 2.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 9,363 shares of the semiconductor company’s stock valued at $907,000 after buying an additional 187 shares during the last quarter. Campbell Newman Asset Management Inc. raised its holdings in shares of Rambus by 0.5% in the third quarter. Campbell Newman Asset Management Inc. now owns 41,851 shares of the semiconductor company’s stock valued at $4,361,000 after buying an additional 188 shares during the last quarter. KLP Kapitalforvaltning AS boosted its stake in shares of Rambus by 0.9% during the third quarter. KLP Kapitalforvaltning AS now owns 22,400 shares of the semiconductor company’s stock worth $2,334,000 after buying an additional 200 shares during the period. Finally, Norden Group LLC grew its holdings in shares of Rambus by 2.8% during the third quarter. Norden Group LLC now owns 7,655 shares of the semiconductor company’s stock worth $798,000 after buying an additional 208 shares during the last quarter. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Rambus news, Director Eric B. Stang sold 4,000 shares of the stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $111.78, for a total value of $447,120.00. Following the completion of the transaction, the director directly owned 20,394 shares of the company’s stock, valued at approximately $2,279,641.32. This trade represents a 16.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on RMBS. Wells Fargo & Company upped their price objective on Rambus from $73.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday, October 28th. Zacks Research upgraded Rambus to a “hold” rating in a research note on Monday, January 26th. Cfra Research lowered shares of Rambus from a “hold” rating to a “moderate sell” rating in a research report on Monday, December 15th. Rosenblatt Securities reissued a “buy” rating and issued a $130.00 price objective on shares of Rambus in a research note on Tuesday. Finally, Jefferies Financial Group upgraded shares of Rambus to a “strong-buy” rating in a research note on Tuesday, October 28th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $105.71.

Rambus Stock Down 2.7%

NASDAQ:RMBS opened at $98.10 on Friday. The firm’s fifty day simple moving average is $101.36 and its 200-day simple moving average is $93.00. The stock has a market cap of $10.56 billion, a PE ratio of 46.49 and a beta of 1.53. Rambus, Inc. has a fifty-two week low of $40.12 and a fifty-two week high of $135.75.

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.