Penserra Capital Management LLC Makes New $400,000 Investment in Rambus, Inc. $RMBS

Penserra Capital Management LLC acquired a new position in shares of Rambus, Inc. (NASDAQ:RMBS) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 6,263 shares of the semiconductor company’s stock, valued at approximately $400,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RMBS. Savant Capital LLC increased its position in Rambus by 218.6% in the second quarter. Savant Capital LLC now owns 18,031 shares of the semiconductor company’s stock worth $1,154,000 after purchasing an additional 12,371 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Rambus in the 2nd quarter worth about $70,000. Bank of New York Mellon Corp increased its holdings in shares of Rambus by 13.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,019,504 shares of the semiconductor company’s stock worth $129,289,000 after buying an additional 235,253 shares during the last quarter. State of Michigan Retirement System raised its position in shares of Rambus by 1.2% during the 2nd quarter. State of Michigan Retirement System now owns 25,800 shares of the semiconductor company’s stock valued at $1,652,000 after buying an additional 300 shares in the last quarter. Finally, Moody Aldrich Partners LLC lifted its holdings in shares of Rambus by 75.7% in the 2nd quarter. Moody Aldrich Partners LLC now owns 79,150 shares of the semiconductor company’s stock valued at $5,067,000 after acquiring an additional 34,112 shares during the last quarter. 88.54% of the stock is currently owned by institutional investors.

Insider Activity at Rambus

In other Rambus news, Director Necip Sayiner sold 7,500 shares of the company’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $85.63, for a total value of $642,225.00. Following the transaction, the director directly owned 30,824 shares in the company, valued at $2,639,459.12. This represents a 19.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eric B. Stang sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $102.35, for a total transaction of $511,750.00. Following the transaction, the director directly owned 24,394 shares in the company, valued at approximately $2,496,725.90. This trade represents a 17.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 29,227 shares of company stock valued at $2,714,940. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on RMBS shares. Robert W. Baird boosted their price objective on Rambus from $90.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, September 15th. Evercore ISI lifted their target price on Rambus from $114.00 to $126.00 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. Jefferies Financial Group upgraded Rambus to a “strong-buy” rating in a report on Tuesday, October 28th. Susquehanna set a $100.00 price target on Rambus and gave the stock a “neutral” rating in a research report on Monday, October 6th. Finally, Wall Street Zen cut shares of Rambus from a “buy” rating to a “hold” rating in a research report on Sunday, August 10th. Three analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Rambus currently has an average rating of “Buy” and an average target price of $108.14.

Rambus Stock Down 2.6%

Shares of Rambus stock opened at $102.21 on Thursday. The stock’s fifty day moving average is $98.59 and its two-hundred day moving average is $75.66. The company has a market capitalization of $11.00 billion, a PE ratio of 48.44 and a beta of 1.47. Rambus, Inc. has a 52 week low of $40.12 and a 52 week high of $114.55.

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.