Rambus Inc. (NASDAQ:RMBS) Stake Decreased by Great Lakes Advisors LLC

Great Lakes Advisors LLC reduced its position in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) by 19.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,955 shares of the semiconductor company's stock after selling 8,633 shares during the period. Great Lakes Advisors LLC's holdings in Rambus were worth $1,901,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in RMBS. State of New Jersey Common Pension Fund D lifted its position in shares of Rambus by 18.4% during the third quarter. State of New Jersey Common Pension Fund D now owns 44,207 shares of the semiconductor company's stock worth $1,866,000 after purchasing an additional 6,877 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new position in shares of Rambus during the third quarter worth $227,000. Empowered Funds LLC acquired a new position in shares of Rambus during the third quarter worth $275,000. Natixis Advisors LLC lifted its position in shares of Rambus by 32.4% during the third quarter. Natixis Advisors LLC now owns 295,307 shares of the semiconductor company's stock worth $12,468,000 after purchasing an additional 72,280 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its position in shares of 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 in the last quarter. 88.54% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

A number of research analysts have recently commented on RMBS shares. Baird R W raised shares of Rambus to a "strong-buy" rating in a research report on Monday, November 25th. Robert W. Baird set a $90.00 target price on shares of Rambus in a research report on Monday, February 3rd. Rosenblatt Securities upped their target price on shares of Rambus from $85.00 to $92.00 and gave the company a "buy" rating in a research note on Tuesday, February 4th. Wells Fargo & Company lifted their price target on Rambus from $62.00 to $73.00 and gave the stock an "overweight" 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 note on Wednesday, March 5th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Rambus currently has an average rating of "Buy" and a consensus price target of $76.71.

Rambus Stock Up 4.8 %

RMBS stock traded up $2.63 during midday trading on Wednesday, reaching $56.96. The company had a trading volume of 840,223 shares, compared to its average volume of 1,276,190. The stock has a 50 day moving average price of $59.56 and a 200 day moving average price of $52.59. Rambus Inc. has a fifty-two week low of $37.43 and a fifty-two week high of $69.15. The firm has a market capitalization of $6.12 billion, a PE ratio of 34.31 and a beta of 1.25.

Insider Buying and Selling at Rambus

In other news, COO Xianzhi Sean Fan sold 52,327 shares of Rambus stock in a transaction that occurred on Wednesday, February 19th. The stock was 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 of the company's stock, valued at approximately $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 SEC, which is accessible through the SEC website. Also, Director Necip Sayiner sold 4,625 shares of Rambus stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $66.74, for a total value of $308,672.50. Following the sale, the director now directly owns 42,000 shares in the company, valued at approximately $2,803,080. This trade represents a 9.92 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Rambus Company 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.