Franklin Resources Inc. Sells 6,823 Shares of Rambus Inc. (NASDAQ:RMBS)

Franklin Resources Inc. cut its holdings in Rambus Inc. (NASDAQ:RMBS - Free Report) by 1.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 406,263 shares of the semiconductor company's stock after selling 6,823 shares during the period. Franklin Resources Inc. owned approximately 0.38% of Rambus worth $21,475,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of RMBS. UMB Bank n.a. boosted its stake in shares of Rambus by 554.9% during the 4th quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company's stock worth $28,000 after acquiring an additional 455 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its holdings in Rambus by 927.5% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 709 shares of the semiconductor company's stock worth $38,000 after purchasing an additional 640 shares during the last quarter. Quarry LP boosted its position in Rambus by 40.3% during the third quarter. Quarry LP now owns 919 shares of the semiconductor company's stock worth $39,000 after purchasing an additional 264 shares during the period. Farther Finance Advisors LLC grew its holdings in Rambus by 379.1% during the fourth quarter. Farther Finance Advisors LLC now owns 1,126 shares of the semiconductor company's stock valued at $60,000 after purchasing an additional 891 shares during the last quarter. Finally, Lindbrook Capital LLC raised its position in shares of Rambus by 12.3% in the fourth quarter. Lindbrook Capital LLC now owns 1,513 shares of the semiconductor company's stock valued at $80,000 after purchasing an additional 166 shares during the period. 88.54% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Robert W. Baird set a $90.00 target price on shares of Rambus in a research note on Monday, February 3rd. Wells Fargo & Company raised their price target on Rambus from $62.00 to $73.00 and gave the company an "overweight" rating in a research report on Tuesday, February 4th. Evercore ISI assumed coverage on Rambus in a research report on Tuesday, February 4th. They set an "outperform" rating and a $71.00 price objective for the company. Rosenblatt Securities increased their target price on Rambus from $85.00 to $92.00 and gave the company a "buy" rating in a research note on Tuesday, February 4th. Finally, StockNews.com downgraded Rambus from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Rambus presently has a consensus rating of "Buy" and a consensus price target of $76.71.

Insider Activity

In other Rambus news, COO Xianzhi Sean Fan sold 52,327 shares of Rambus stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $68.02, for a total transaction of $3,559,282.54. Following the sale, the chief operating officer now owns 93,841 shares in the company, valued at $6,383,064.82. The trade was a 35.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Necip Sayiner sold 4,625 shares of the business's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $66.74, for a total transaction of $308,672.50. Following the completion of the sale, the director now directly owns 42,000 shares in the company, valued at $2,803,080. This trade represents a 9.92 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 96,952 shares of company stock worth $5,969,155. Company insiders own 1.00% of the company's stock.

Rambus Trading Up 1.7 %

RMBS traded up $0.80 on Friday, hitting $47.04. 992,130 shares of the stock traded hands, compared to its average volume of 1,312,494. The business has a fifty day moving average price of $56.03 and a two-hundred day moving average price of $54.04. The firm has a market capitalization of $5.05 billion, a PE ratio of 28.34 and a beta of 1.20. Rambus Inc. has a 52 week low of $37.43 and a 52 week high of $69.15.

Rambus Profile

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.