Envestnet Asset Management Inc. Sells 3,336 Shares of Rambus Inc. (NASDAQ:RMBS)

Envestnet Asset Management Inc. reduced its stake in shares of Rambus Inc. (NASDAQ:RMBS) by 8.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,425 shares of the semiconductor company’s stock after selling 3,336 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Rambus were worth $2,199,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Rambus by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 11,651,114 shares of the semiconductor company’s stock valued at $720,155,000 after purchasing an additional 275,160 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Rambus by 120.4% during the fourth quarter. Wellington Management Group LLP now owns 3,933,923 shares of the semiconductor company’s stock worth $268,490,000 after buying an additional 2,149,396 shares during the period. Hood River Capital Management LLC increased its stake in Rambus by 4.4% in the 1st quarter. Hood River Capital Management LLC now owns 2,048,572 shares of the semiconductor company’s stock valued at $126,622,000 after buying an additional 86,758 shares during the last quarter. Swedbank AB increased its holdings in Rambus by 56.1% during the second quarter. Swedbank AB now owns 1,549,850 shares of the semiconductor company’s stock worth $91,069,000 after buying an additional 556,850 shares during the last quarter. Finally, Captrust Financial Advisors lifted its stake in Rambus by 16.3% in the 1st quarter. Captrust Financial Advisors now owns 1,258,976 shares of the semiconductor company’s stock valued at $77,817,000 after purchasing an additional 176,103 shares during the last quarter. Institutional investors own 88.54% of the company’s stock.

Rambus Trading Up 2.1 %

Rambus stock opened at $41.05 on Friday. The stock has a 50-day moving average price of $42.67 and a two-hundred day moving average price of $53.02. Rambus Inc. has a 12 month low of $37.42 and a 12 month high of $76.38. The company has a market capitalization of $4.42 billion, a PE ratio of 12.55 and a beta of 1.19.

Rambus (NASDAQ:RMBS) last released its earnings results on Monday, July 29th. The semiconductor company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.12). Rambus had a net margin of 48.31% and a return on equity of 16.74%. The firm had revenue of $132.10 million for the quarter, compared to analyst estimates of $139.00 million. During the same period in the prior year, the company posted $0.36 EPS. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. As a group, analysts predict that Rambus Inc. will post 1.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on RMBS shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 target price on shares of Rambus in a report on Tuesday, September 10th. Susquehanna reduced their price target on shares of Rambus from $75.00 to $66.00 and set a “positive” rating on the stock in a research report on Friday, July 26th.

Rambus 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.