Envestnet Portfolio Solutions Inc. Invests $331,000 in Rambus Inc. (NASDAQ:RMBS)

Envestnet Portfolio Solutions Inc. bought a new stake in Rambus Inc. (NASDAQ:RMBS) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,257 shares of the semiconductor company’s stock, valued at approximately $331,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. UMB Bank n.a. lifted its position in shares of Rambus by 554.9% during the 4th quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company’s stock worth $28,000 after buying an additional 455 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its position in shares of Rambus by 927.5% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 709 shares of the semiconductor company’s stock valued at $38,000 after buying an additional 640 shares during the last quarter. Quarry LP raised its stake in Rambus by 40.3% during the 3rd quarter. Quarry LP now owns 919 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 264 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Rambus by 379.1% in the fourth quarter. Farther Finance Advisors LLC now owns 1,126 shares of the semiconductor company’s stock valued at $60,000 after acquiring an additional 891 shares during the last quarter. Finally, Lindbrook Capital LLC boosted its stake in 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 acquiring an additional 166 shares in the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Rambus

In related news, CEO Luc Seraphin sold 10,000 shares of the stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $58.64, for a total transaction of $586,400.00. Following the completion of the transaction, the chief executive officer now directly owns 306,931 shares of the company’s stock, valued at $17,998,433.84. This represents a 3.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Necip Sayiner sold 4,625 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $66.74, for a total transaction of $308,672.50. Following the completion of the sale, the director now owns 42,000 shares of the company’s stock, valued at approximately $2,803,080. The trade was a 9.92 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 76,952 shares of company stock worth $4,992,255. Company insiders own 1.00% of the company’s stock.

Rambus Price Performance

Shares of NASDAQ RMBS opened at $55.44 on Friday. The stock has a fifty day moving average price of $59.53 and a 200 day moving average price of $53.22. Rambus Inc. has a 1-year low of $37.43 and a 1-year high of $69.15. The company has a market cap of $5.96 billion, a PE ratio of 33.40 and a beta of 1.25.

Analyst Upgrades and Downgrades

RMBS has been the topic of a number of research analyst reports. Wells Fargo & Company lifted their target price on Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Evercore ISI assumed coverage on Rambus in a research report on Tuesday, February 4th. They set an “outperform” rating and a $71.00 price target on the stock. Robert W. Baird set a $90.00 price objective on Rambus in a report on Monday, February 3rd. StockNews.com lowered shares of Rambus from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Finally, Susquehanna upped their price target on shares of Rambus from $66.00 to $70.00 and gave the company a “positive” rating in a research report on Tuesday, February 4th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $76.71.

About Rambus

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.