Penserra Capital Management LLC Boosts Position in Rambus, Inc. $RMBS

Penserra Capital Management LLC raised its position in Rambus, Inc. (NASDAQ:RMBS) by 445.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 34,162 shares of the semiconductor company’s stock after purchasing an additional 27,899 shares during the period. Penserra Capital Management LLC’s holdings in Rambus were worth $3,559,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Steigerwald Gordon & Koch Inc. acquired a new stake in Rambus in the 3rd quarter valued at about $25,000. True Wealth Design LLC lifted its holdings in shares of Rambus by 162.5% in the second quarter. True Wealth Design LLC now owns 420 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 260 shares in the last quarter. Abound Wealth Management acquired a new stake in shares of Rambus in the third quarter valued at approximately $28,000. Bessemer Group Inc. grew its position in shares of Rambus by 105.8% in the second quarter. Bessemer Group Inc. now owns 463 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 238 shares during the last quarter. Finally, Hantz Financial Services Inc. increased its stake in shares of Rambus by 1,386.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 639 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 596 shares in the last quarter. Institutional investors and hedge funds own 88.54% of the company’s stock.

Insider Buying and Selling

In other news, Director Eric B. Stang sold 4,000 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $111.78, for a total transaction of $447,120.00. Following the completion of the transaction, the director owned 20,394 shares of the company’s stock, valued at $2,279,641.32. This represents a 16.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.00% of the stock is owned by company insiders.

Rambus Trading Down 2.7%

Rambus stock opened at $98.10 on Friday. The stock has a fifty day moving average price of $101.36 and a 200 day moving average price of $93.00. Rambus, Inc. has a 52 week low of $40.12 and a 52 week high of $135.75. The firm has a market capitalization of $10.56 billion, a P/E ratio of 46.49 and a beta of 1.53.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RMBS. Weiss Ratings raised Rambus from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 26th. Cfra Research lowered Rambus from a “hold” rating to a “moderate sell” rating in a research note on Monday, December 15th. Evercore ISI dropped their price objective on Rambus from $126.00 to $119.00 and set an “outperform” rating for the company in a research report on Tuesday. Wells Fargo & Company boosted their target price on shares of Rambus from $73.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday, October 28th. Finally, Susquehanna decreased their price target on shares of Rambus from $100.00 to $90.00 and set a “neutral” rating on the stock in a research note on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Rambus presently has a consensus rating of “Buy” and an average price target of $105.71.

About Rambus

Rambus Inc is a technology licensing company specializing in semiconductor and system-level interface solutions. Founded in 1990 by Stanford University researchers Mike Farmwald and Mark Horowitz, Rambus established its headquarters in Sunnyvale, California. The company initially gained prominence by developing high-speed DRAM interface technology and securing a broad patent portfolio covering memory architecture, data signaling and power management innovations.

Today, Rambus licenses its proprietary intellectual property (IP) to semiconductor companies, original equipment manufacturers (OEMs) and system integrators worldwide.