Envestnet Asset Management Inc. Buys 34,193 Shares of Rambus Inc. (NASDAQ:RMBS)

Envestnet Asset Management Inc. grew its position in Rambus Inc. (NASDAQ:RMBS - Free Report) by 86.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 73,938 shares of the semiconductor company's stock after purchasing an additional 34,193 shares during the quarter. Envestnet Asset Management Inc. owned about 0.07% of Rambus worth $3,908,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in RMBS. SG Americas Securities LLC raised its stake in Rambus by 1,657.4% in the 4th quarter. SG Americas Securities LLC now owns 552,173 shares of the semiconductor company's stock worth $29,188,000 after purchasing an additional 520,754 shares in the last quarter. World Investment Advisors LLC acquired a new position in Rambus in the 3rd quarter valued at $989,000. Campbell Newman Asset Management Inc. lifted its position in shares of Rambus by 72.2% during the 4th quarter. Campbell Newman Asset Management Inc. now owns 39,046 shares of the semiconductor company's stock valued at $2,064,000 after acquiring an additional 16,376 shares during the period. Atria Investments Inc bought a new position in shares of Rambus in the fourth quarter worth $336,000. Finally, Hennion & Walsh Asset Management Inc. grew its stake in Rambus by 28.4% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 12,909 shares of the semiconductor company's stock worth $682,000 after buying an additional 2,853 shares in the last quarter. 88.54% of the stock is owned by institutional investors and hedge funds.

Rambus Stock Performance

RMBS traded up $1.00 on Monday, hitting $51.94. 1,077,214 shares of the company were exchanged, compared to its average volume of 1,299,078. The firm has a fifty day simple moving average of $52.28 and a two-hundred day simple moving average of $54.50. The stock has a market capitalization of $5.58 billion, a PE ratio of 31.20 and a beta of 1.20. Rambus Inc. has a 12 month low of $37.43 and a 12 month high of $69.15.

Insider Activity

In other news, CEO Luc Seraphin sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Xianzhi Sean Fan sold 52,327 shares of Rambus stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $68.02, for a total transaction of $3,559,282.54. Following the completion of the sale, the chief operating officer now owns 93,841 shares of the company's stock, valued at $6,383,064.82. This represents a 35.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,300 shares of company stock valued at $6,745,221. Company insiders own 1.00% of the company's stock.

Analyst Ratings Changes

RMBS has been the subject of several recent analyst reports. Wells Fargo & Company upped their target price on Rambus from $62.00 to $73.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. Evercore ISI assumed coverage on shares of Rambus in a research report on Tuesday, February 4th. They issued an "outperform" rating and a $71.00 price target for the company. Robert W. Baird set a $90.00 price objective on Rambus in a research report on Monday, February 3rd. Susquehanna upped their target price on Rambus from $66.00 to $70.00 and gave the company a "positive" rating in a report on Tuesday, February 4th. Finally, StockNews.com downgraded shares of Rambus from a "buy" rating to a "hold" rating in a research report on Saturday. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target 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.