Bank of New York Mellon Corp Has $166.55 Million Stock Holdings in Rambus, Inc. $RMBS

Bank of New York Mellon Corp reduced its holdings in shares of Rambus, Inc. (NASDAQ:RMBS) by 20.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,598,338 shares of the semiconductor company’s stock after selling 421,166 shares during the period. Bank of New York Mellon Corp owned about 1.48% of Rambus worth $166,547,000 at the end of the most recent reporting period.

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

Rambus Trading Down 6.4%

Shares of RMBS stock opened at $113.83 on Friday. Rambus, Inc. has a 1 year low of $40.12 and a 1 year high of $135.75. The firm’s 50 day moving average is $100.64 and its 200-day moving average is $92.01. The firm has a market capitalization of $12.25 billion, a price-to-earnings ratio of 53.95 and a beta of 1.51.

Analyst Ratings Changes

A number of brokerages have issued reports on RMBS. Evercore ISI lifted their price objective on Rambus from $114.00 to $126.00 and gave the company an “outperform” rating in a report on Tuesday, October 28th. Wells Fargo & Company lifted their price target on shares of Rambus from $73.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Jefferies Financial Group upgraded shares of Rambus to a “strong-buy” rating in a research report on Tuesday, October 28th. William Blair began coverage on shares of Rambus in a report on Thursday, January 22nd. They set an “outperform” rating for the company. Finally, Cfra Research downgraded Rambus from a “hold” rating to a “moderate sell” rating in a report on Monday, December 15th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $108.14.

Insider Buying and Selling

In other news, Director Eric B. Stang sold 5,000 shares of Rambus stock in a transaction on Friday, November 7th. The stock was sold at an average price of $102.35, for a total value of $511,750.00. Following the completion of the sale, the director directly owned 24,394 shares of the company’s stock, valued at approximately $2,496,725.90. This trade represents a 17.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

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.