Penserra Capital Management LLC Invests $400,000 in Rambus, Inc. $RMBS

Penserra Capital Management LLC acquired a new stake in Rambus, Inc. (NASDAQ:RMBS) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 6,263 shares of the semiconductor company’s stock, valued at approximately $400,000.

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on RMBS shares. Weiss Ratings lowered Rambus from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, November 7th. Arete raised Rambus from a “neutral” rating to a “buy” rating and set a $91.00 price target for the company in a research report on Thursday, August 28th. Wells Fargo & Company upped their price objective on Rambus from $73.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Evercore ISI lifted their target price on Rambus from $114.00 to $126.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. Finally, Robert W. Baird boosted their target price on shares of Rambus from $90.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, September 15th. Three research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Rambus currently has a consensus rating of “Buy” and an average price target of $108.14.

Rambus Stock Performance

Shares of NASDAQ RMBS opened at $102.21 on Thursday. Rambus, Inc. has a fifty-two week low of $40.12 and a fifty-two week high of $114.55. The company has a market cap of $11.00 billion, a PE ratio of 48.44 and a beta of 1.47. The business has a 50-day simple moving average of $98.59 and a two-hundred day simple moving average of $75.66.

Insider Activity at Rambus

In other Rambus news, Director Necip Sayiner sold 7,500 shares of the firm’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $85.63, for a total value of $642,225.00. Following the completion of the transaction, the director owned 30,824 shares of the company’s stock, valued at approximately $2,639,459.12. This trade represents a 19.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Desmond Lynch sold 9,074 shares of Rambus stock in a transaction on Monday, September 15th. The stock was sold at an average price of $91.70, for a total transaction of $832,085.80. Following the sale, the chief financial officer owned 64,430 shares of the company’s stock, valued at $5,908,231. The trade was a 12.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 29,227 shares of company stock valued at $2,714,940 over the last 90 days. Company insiders own 1.00% of the company’s stock.

Rambus Company 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.