Envestnet Portfolio Solutions Inc. Buys Shares of 6,257 Rambus Inc. (NASDAQ:RMBS)

Envestnet Portfolio Solutions Inc. bought a new position in Rambus Inc. (NASDAQ:RMBS) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 6,257 shares of the semiconductor company’s stock, valued at approximately $331,000.

Several other institutional investors have also modified their holdings of RMBS. Lindbrook Capital LLC grew its holdings in shares of Rambus by 12.3% in the fourth quarter. Lindbrook Capital LLC now owns 1,513 shares of the semiconductor company’s stock valued at $80,000 after purchasing an additional 166 shares during the period. Arizona State Retirement System grew its stake in shares of Rambus by 0.7% in the 4th quarter. Arizona State Retirement System now owns 31,237 shares of the semiconductor company’s stock valued at $1,651,000 after buying an additional 202 shares during the period. Nations Financial Group Inc. IA ADV increased its holdings in shares of Rambus by 2.8% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 8,925 shares of the semiconductor company’s stock worth $472,000 after buying an additional 246 shares during the last quarter. Quarry LP raised its position in shares of Rambus by 40.3% during the 3rd quarter. Quarry LP now owns 919 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 264 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its holdings in Rambus by 7.9% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,321 shares of the semiconductor company’s stock valued at $252,000 after acquiring an additional 317 shares during the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Stock Performance

Shares of RMBS opened at $55.44 on Friday. The company’s 50-day simple moving average is $59.53 and its 200-day simple moving average is $53.22. Rambus Inc. has a 1 year low of $37.43 and a 1 year high of $69.15. The stock has a market capitalization of $5.96 billion, a PE ratio of 33.40 and a beta of 1.25.

Insider Buying and Selling

In other Rambus news, CEO Luc Seraphin sold 10,000 shares of the company’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $53.79, for a total transaction of $537,900.00. Following the sale, the chief executive officer now owns 316,931 shares in the company, valued at $17,047,718.49. This represents a 3.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Necip Sayiner sold 4,625 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $66.74, for a total value of $308,672.50. Following the completion of the sale, the director now directly owns 42,000 shares in the company, valued at $2,803,080. This represents a 9.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 76,952 shares of company stock valued at $4,992,255 in the last ninety days. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

RMBS has been the subject of several recent analyst reports. Susquehanna raised their target price on Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a research note on Tuesday, February 4th. Wells Fargo & Company boosted their price objective on shares of Rambus from $62.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Robert W. Baird set a $90.00 target price on shares of Rambus in a research report on Monday, February 3rd. StockNews.com cut shares of Rambus from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Finally, Evercore ISI assumed coverage on shares of Rambus in a report on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $76.71.

Rambus Company 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.