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

Bank of New York Mellon Corp lessened its holdings in Rambus, Inc. (NASDAQ:RMBS) by 20.9% during the 3rd quarter, Holdings Channel reports. The firm 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’s holdings in Rambus were worth $166,547,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of RMBS. Signaturefd LLC boosted its stake in Rambus by 14.8% in the second quarter. Signaturefd LLC now owns 1,288 shares of the semiconductor company’s stock valued at $82,000 after acquiring an additional 166 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Rambus by 19.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,045 shares of the semiconductor company’s stock valued at $109,000 after purchasing an additional 167 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Rambus by 2.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 9,363 shares of the semiconductor company’s stock worth $907,000 after purchasing an additional 187 shares during the last quarter. Campbell Newman Asset Management Inc. grew its stake in shares of Rambus by 0.5% during the third quarter. Campbell Newman Asset Management Inc. now owns 41,851 shares of the semiconductor company’s stock worth $4,361,000 after purchasing an additional 188 shares during the period. Finally, KLP Kapitalforvaltning AS grew its stake in shares of Rambus by 0.9% during the third quarter. KLP Kapitalforvaltning AS now owns 22,400 shares of the semiconductor company’s stock worth $2,334,000 after purchasing an additional 200 shares during the period. 88.54% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Eric B. Stang sold 4,000 shares of the business’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $111.78, for a total value of $447,120.00. Following the sale, the director directly owned 20,394 shares in the company, valued at $2,279,641.32. The trade was a 16.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RMBS. Susquehanna set a $100.00 target price on Rambus and gave the stock a “neutral” rating in a report on Monday, October 6th. Cfra Research downgraded shares of Rambus from a “hold” rating to a “moderate sell” rating in a research report on Monday, December 15th. William Blair initiated coverage on shares of Rambus in a research note on Thursday, January 22nd. They set an “outperform” rating on the stock. Wells Fargo & Company upped 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, Rosenblatt Securities reaffirmed a “buy” rating and set a $130.00 price objective on shares of Rambus in a research note on Tuesday, October 28th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $108.14.

Rambus Stock Down 6.4%

Shares of NASDAQ:RMBS opened at $113.83 on Friday. The firm has a market cap of $12.25 billion, a price-to-earnings ratio of 53.95 and a beta of 1.51. Rambus, Inc. has a 12 month low of $40.12 and a 12 month high of $135.75. The company’s fifty day simple moving average is $100.64 and its 200 day simple moving average is $92.01.

Rambus Profile

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.