Rambus Inc. (NASDAQ:RMBS) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lowered its position in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) by 40.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 760,214 shares of the semiconductor company's stock after selling 506,566 shares during the period. Assenagon Asset Management S.A. owned 0.71% of Rambus worth $40,185,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vaughan Nelson Investment Management L.P. lifted its stake in Rambus by 32.3% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,462,932 shares of the semiconductor company's stock worth $61,765,000 after purchasing an additional 357,160 shares during the last quarter. World Investment Advisors LLC acquired a new position in Rambus in the third quarter valued at $989,000. Dynamic Technology Lab Private Ltd purchased a new stake in Rambus during the 3rd quarter valued at approximately $2,077,000. FORA Capital LLC lifted its holdings in shares of Rambus by 63.7% during the third quarter. FORA Capital LLC now owns 40,284 shares of the semiconductor company's stock worth $1,701,000 after purchasing an additional 15,671 shares during the period. Finally, Glenmede Trust Co. NA raised its position in Rambus by 32.2% during the 3rd quarter. Glenmede Trust Co. NA now owns 311,910 shares of the semiconductor company's stock worth $13,169,000 after buying an additional 75,908 shares during the last quarter. Institutional investors and hedge funds own 88.54% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Baird R W raised shares of Rambus to a "strong-buy" rating in a report on Monday, November 25th. Wells Fargo & Company assumed coverage on Rambus in a research report on Wednesday, November 6th. They set an "overweight" rating and a $62.00 target price on the stock. Rosenblatt Securities reissued a "buy" rating and issued a $85.00 price target on shares of Rambus in a report on Tuesday, October 29th. Robert W. Baird started coverage on Rambus in a report on Monday, November 25th. They set an "outperform" rating and a $90.00 price objective on the stock. Finally, Loop Capital assumed coverage on Rambus in a report on Monday, November 11th. They issued a "buy" rating and a $70.00 target price for the company. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Rambus presently has an average rating of "Buy" and a consensus price target of $74.67.

Rambus Stock Up 3.8 %

Shares of RMBS traded up $2.25 on Friday, reaching $61.92. The stock had a trading volume of 704,662 shares, compared to its average volume of 641,751. The firm has a 50-day moving average of $55.96 and a 200 day moving average of $50.40. The firm has a market capitalization of $6.60 billion, a PE ratio of 38.46 and a beta of 1.23. Rambus Inc. has a twelve month low of $37.42 and a twelve month high of $76.38.

Insider Transactions at Rambus

In related news, Director Meera Rao sold 5,408 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $58.22, for a total transaction of $314,853.76. Following the sale, the director now owns 29,090 shares of the company's stock, valued at $1,693,619.80. This trade represents a 15.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.00% of the company's stock.

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.