Envestnet Asset Management Inc. Has $2.20 Million Position in Rambus Inc. (NASDAQ:RMBS)

Envestnet Asset Management Inc. trimmed its stake in Rambus Inc. (NASDAQ:RMBS) by 8.2% in the second quarter, according to its most recent Form 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 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. American Century Companies Inc. increased its holdings in shares of Rambus by 63.8% during the second quarter. American Century Companies Inc. now owns 1,053,377 shares of the semiconductor company’s stock valued at $61,897,000 after acquiring an additional 410,332 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Rambus during the 2nd quarter worth approximately $291,000. Global X Japan Co. Ltd. lifted its holdings in Rambus by 51.3% during the second quarter. Global X Japan Co. Ltd. now owns 12,437 shares of the semiconductor company’s stock worth $731,000 after acquiring an additional 4,217 shares during the period. Choreo LLC purchased a new position in shares of Rambus in the 2nd quarter worth about $445,000. Finally, Quest Partners LLC increased its holdings in Rambus by 18,941.7% during the second quarter. Quest Partners LLC now owns 11,425 shares of the semiconductor company’s stock worth $671,000 after buying an additional 11,365 shares during the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Rambus Stock Performance

Shares of Rambus stock opened at $41.05 on Friday. The stock has a market capitalization of $4.42 billion, a P/E ratio of 12.55 and a beta of 1.19. Rambus Inc. has a 52-week low of $37.42 and a 52-week high of $76.38. The stock’s 50-day simple moving average is $42.67 and its 200 day simple moving average is $53.02.

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

Analyst Ratings Changes

A number of research firms have recently weighed in on RMBS. Rosenblatt Securities reissued a “buy” rating and set a $85.00 target price on shares of Rambus in a research report on Tuesday, September 10th. Susquehanna reduced their price objective on Rambus from $75.00 to $66.00 and set a “positive” rating for the company in a 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.