Rambus, Inc. $RMBS Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. reduced its stake in shares of Rambus, Inc. (NASDAQ:RMBS) by 73.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,127 shares of the semiconductor company’s stock after selling 25,852 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Rambus were worth $584,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its holdings in Rambus by 60.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,746,856 shares of the semiconductor company’s stock worth $452,870,000 after acquiring an additional 3,297,728 shares in the last quarter. American Century Companies Inc. grew its holdings in Rambus by 21.1% during the 1st quarter. American Century Companies Inc. now owns 1,424,365 shares of the semiconductor company’s stock worth $73,747,000 after acquiring an additional 248,013 shares in the last quarter. Congress Asset Management Co. grew its holdings in Rambus by 6.4% during the 2nd quarter. Congress Asset Management Co. now owns 1,276,926 shares of the semiconductor company’s stock worth $81,749,000 after acquiring an additional 77,362 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Rambus by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,256,346 shares of the semiconductor company’s stock worth $65,047,000 after acquiring an additional 6,600 shares in the last quarter. Finally, Westwood Holdings Group Inc. lifted its position in shares of Rambus by 9.3% in the 1st quarter. Westwood Holdings Group Inc. now owns 1,232,210 shares of the semiconductor company’s stock worth $63,798,000 after buying an additional 104,356 shares during the last quarter. 88.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Susquehanna set a $100.00 price target on shares of Rambus and gave the stock a “neutral” rating in a research report on Monday. Evercore ISI raised their price target on shares of Rambus from $81.00 to $114.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 16th. Arete upgraded shares of Rambus from a “neutral” rating to a “buy” rating and set a $91.00 price target on the stock in a research report on Thursday, August 28th. Jefferies Financial Group raised their price target on shares of Rambus from $69.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Finally, Arete Research upgraded shares of Rambus to a “strong-buy” rating in a research report on Thursday, August 28th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Rambus presently has a consensus rating of “Buy” and a consensus price target of $96.63.

Rambus Trading Down 9.3%

RMBS stock opened at $89.57 on Friday. Rambus, Inc. has a 52 week low of $40.12 and a 52 week high of $109.15. The company has a market capitalization of $9.64 billion, a price-to-earnings ratio of 42.25 and a beta of 1.46. The firm’s 50-day moving average is $85.28 and its two-hundred day moving average is $66.62.

Insider Buying and Selling at Rambus

In other news, Director Meera Rao sold 3,000 shares of Rambus stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $71.72, for a total value of $215,160.00. Following the transaction, the director owned 29,914 shares of the company’s stock, valued at $2,145,432.08. The trade was a 9.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Necip Sayiner sold 7,500 shares of Rambus stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $73.53, for a total transaction of $551,475.00. Following the completion of the transaction, the director directly owned 38,324 shares in the company, valued at $2,817,963.72. This represents a 16.37% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,913 shares of company stock worth $2,474,452. 1.00% of the stock is currently owned by company insiders.

About Rambus

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.