Envestnet Portfolio Solutions Inc. Has $1.09 Million Holdings in Rambus, Inc. $RMBS

Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Rambus, Inc. (NASDAQ:RMBSFree Report) by 202.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,947 shares of the semiconductor company’s stock after buying an additional 11,342 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Rambus were worth $1,085,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Price T Rowe Associates Inc. MD grew its position in shares of Rambus by 60.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,746,856 shares of the semiconductor company’s stock worth $452,870,000 after buying an additional 3,297,728 shares during the period. American Century Companies Inc. grew its position in shares of Rambus by 21.1% during the 1st quarter. American Century Companies Inc. now owns 1,424,365 shares of the semiconductor company’s stock worth $73,747,000 after buying an additional 248,013 shares during the period. Congress Asset Management Co. grew its position in shares of Rambus by 6.4% during the 2nd quarter. Congress Asset Management Co. now owns 1,276,926 shares of the semiconductor company’s stock worth $81,749,000 after buying an additional 77,362 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Rambus by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,256,346 shares of the semiconductor company’s stock worth $65,047,000 after buying an additional 6,600 shares during the period. Finally, Westwood Holdings Group Inc. grew its position in shares of Rambus by 9.3% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,232,210 shares of the semiconductor company’s stock worth $63,798,000 after buying an additional 104,356 shares during the period. Institutional investors and hedge funds own 88.54% of the company’s stock.

Rambus Stock Performance

Shares of RMBS opened at $96.26 on Friday. Rambus, Inc. has a twelve month low of $40.12 and a twelve month high of $109.15. The firm’s 50 day moving average price is $87.63 and its two-hundred day moving average price is $68.20. The firm has a market cap of $10.36 billion, a P/E ratio of 45.41 and a beta of 1.46.

Insider Activity at Rambus

In other Rambus news, CFO Desmond Lynch sold 9,074 shares of Rambus stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $91.70, for a total value of $832,085.80. Following the transaction, the chief financial officer owned 64,430 shares of the company’s stock, valued at approximately $5,908,231. The trade was a 12.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Necip Sayiner sold 7,500 shares of Rambus stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $73.53, for a total transaction of $551,475.00. Following the completion of the transaction, the director directly owned 38,324 shares in the company, valued at approximately $2,817,963.72. The trade was a 16.37% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 29,913 shares of company stock worth $2,474,452. Corporate insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Wall Street Zen cut shares of Rambus from a “buy” rating to a “hold” rating in a research report on Sunday, August 10th. Robert W. Baird boosted their price objective on shares of Rambus from $90.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, September 15th. Evercore ISI boosted their price objective on shares of Rambus from $81.00 to $114.00 and gave the company an “outperform” rating in a report on Tuesday, September 16th. Arete Research upgraded shares of Rambus to a “strong-buy” rating in a report on Thursday, August 28th. Finally, Arete upgraded shares of Rambus from a “neutral” rating to a “buy” rating and set a $91.00 price objective for the company in a report on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Rambus has an average rating of “Buy” and a consensus target price of $96.63.

Get Our Latest Stock Report on Rambus

Rambus Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Rambus (NASDAQ:RMBS)

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