Envestnet Asset Management Inc. Sells 6,357 Shares of Rambus, Inc. $RMBS

Envestnet Asset Management Inc. decreased its position in shares of Rambus, Inc. (NASDAQ:RMBS) by 6.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 93,124 shares of the semiconductor company’s stock after selling 6,357 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.09% of Rambus worth $9,704,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hussman Strategic Advisors Inc. purchased a new position in shares of Rambus during the 3rd quarter valued at $1,094,000. Nordea Investment Management AB grew its position in Rambus by 1,216.0% during the second quarter. Nordea Investment Management AB now owns 69,116 shares of the semiconductor company’s stock worth $4,381,000 after buying an additional 63,864 shares in the last quarter. Oak Grove Capital LLC purchased a new stake in Rambus in the second quarter valued at approximately $519,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Rambus by 1,320.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 129,676 shares of the semiconductor company’s stock valued at $13,512,000 after purchasing an additional 120,549 shares during the last quarter. Finally, Panagora Asset Management Inc. grew its stake in Rambus by 3.7% in the 2nd quarter. Panagora Asset Management Inc. now owns 477,359 shares of the semiconductor company’s stock worth $30,561,000 after buying an additional 16,921 shares in the last quarter. Institutional investors and hedge funds own 88.54% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Cfra cut shares of Rambus from a “hold” rating to a “moderate sell” rating in a research report on Monday, December 15th. Susquehanna dropped their price target on Rambus from $100.00 to $90.00 and set a “neutral” rating for the company in a research note on Tuesday, February 3rd. Weiss Ratings cut Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, February 9th. Zacks Research upgraded Rambus to a “hold” rating in a research report on Monday, January 26th. Finally, Jefferies Financial Group raised Rambus to a “strong-buy” rating in a report on Tuesday, October 28th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Rambus has an average rating of “Moderate Buy” and an average target price of $105.71.

Rambus Trading Up 2.3%

NASDAQ RMBS opened at $104.34 on Thursday. The firm has a market cap of $11.23 billion, a PE ratio of 49.45 and a beta of 1.53. Rambus, Inc. has a 1-year low of $40.12 and a 1-year high of $135.75. The stock has a 50-day moving average of $101.97 and a 200-day moving average of $95.35.

Rambus (NASDAQ:RMBS) last announced its quarterly earnings results on Monday, February 2nd. The semiconductor company reported $0.68 EPS for the quarter, hitting analysts’ consensus estimates of $0.68. Rambus had a return on equity of 17.69% and a net margin of 32.57%.The business had revenue of $190.24 million for the quarter, compared to analysts’ expectations of $188.21 million. As a group, equities research analysts forecast that Rambus, Inc. will post 1.89 earnings per share for the current fiscal year.

About Rambus

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.