Envestnet Asset Management Inc. Has $4.36 Million Stock Holdings in Rambus, Inc. (NASDAQ:RMBS)

Key Points

• Envestnet Asset Management Inc. increased its holdings in Rambus, Inc. by 14.0%, owning 84,263 shares valued at approximately $4.36 million.
• Analysts have recently upgraded Rambus' rating, with a consensus of "Buy" and an average target price of $75.00.
• Company insiders own only 1.00% of Rambus stock, with a notable sale by Director Steven Laub, who sold 3,653 shares for about $202,961.

Envestnet Asset Management Inc. lifted its stake in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 14.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 84,263 shares of the semiconductor company's stock after acquiring an additional 10,325 shares during the period. Envestnet Asset Management Inc. owned approximately 0.08% of Rambus worth $4,363,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tsfg LLC acquired a new stake in shares of Rambus in the first quarter worth $26,000. Orion Capital Management LLC acquired a new stake in Rambus during the fourth quarter worth $37,000. Quarry LP boosted its stake in Rambus by 26.9% during the fourth quarter. Quarry LP now owns 1,166 shares of the semiconductor company's stock worth $62,000 after buying an additional 247 shares in the last quarter. UMB Bank n.a. boosted its stake in Rambus by 129.6% during the first quarter. UMB Bank n.a. now owns 1,233 shares of the semiconductor company's stock worth $64,000 after buying an additional 696 shares in the last quarter. Finally, GeoWealth Management LLC acquired a new stake in Rambus during the fourth quarter worth $68,000. Institutional investors and hedge funds own 88.54% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on RMBS. Rosenblatt Securities reiterated a "buy" rating and set a $80.00 price target on shares of Rambus in a research note on Tuesday, April 29th. Wall Street Zen raised Rambus from a "buy" rating to a "strong-buy" rating in a report on Friday, July 18th. Finally, Susquehanna lifted their price objective on Rambus from $70.00 to $75.00 and gave the company a "positive" rating in a report on Tuesday. Six analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $76.50.

Insider Activity

In related news, Director Steven Laub sold 3,653 shares of Rambus stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $55.56, for a total value of $202,960.68. Following the completion of the transaction, the director directly owned 10,904 shares of the company's stock, valued at $605,826.24. The trade was a 25.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.00% of the stock is owned by corporate insiders.

Rambus Stock Performance

Shares of NASDAQ RMBS traded up $6.65 during midday trading on Tuesday, reaching $70.89. 1,327,575 shares of the company traded hands, compared to its average volume of 1,015,340. The stock's 50-day simple moving average is $61.06 and its 200-day simple moving average is $57.33. Rambus, Inc. has a 12 month low of $37.42 and a 12 month high of $72.33. The firm has a market cap of $7.61 billion, a PE ratio of 36.92 and a beta of 1.24.

Rambus Profile

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.