Rambus Inc. (NASDAQ:RMBS) Shares Sold by Stephens Investment Management Group LLC

Stephens Investment Management Group LLC cut its stake in Rambus Inc. (NASDAQ:RMBS - Free Report) by 14.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 156,877 shares of the semiconductor company's stock after selling 27,245 shares during the quarter. Stephens Investment Management Group LLC owned about 0.15% of Rambus worth $6,623,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of RMBS. Vanguard Group Inc. increased its stake in Rambus by 2.4% in the first quarter. Vanguard Group Inc. now owns 11,651,114 shares of the semiconductor company's stock worth $720,155,000 after purchasing an additional 275,160 shares during the period. Hood River Capital Management LLC increased its stake in Rambus by 5.7% in the second quarter. Hood River Capital Management LLC now owns 2,165,548 shares of the semiconductor company's stock worth $127,248,000 after purchasing an additional 116,976 shares during the period. Dimensional Fund Advisors LP increased its stake in Rambus by 9.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,798,485 shares of the semiconductor company's stock worth $105,673,000 after purchasing an additional 158,259 shares during the period. Swedbank AB increased its stake in Rambus by 12.5% in the third quarter. Swedbank AB now owns 1,743,000 shares of the semiconductor company's stock worth $73,589,000 after purchasing an additional 193,150 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in Rambus by 339.3% in the third quarter. Assenagon Asset Management S.A. now owns 1,266,780 shares of the semiconductor company's stock worth $53,483,000 after purchasing an additional 978,417 shares during the period. 88.54% of the stock is currently owned by institutional investors.

Rambus Trading Up 0.3 %

Shares of Rambus stock traded up $0.13 during trading on Friday, hitting $47.95. 1,347,817 shares of the stock traded hands, compared to its average volume of 1,252,606. The firm has a market cap of $5.11 billion, a P/E ratio of 29.78 and a beta of 1.17. Rambus Inc. has a 52-week low of $37.42 and a 52-week high of $76.38. The stock's fifty day simple moving average is $42.06 and its 200 day simple moving average is $50.61.

Analyst Ratings Changes

A number of research firms have weighed in on RMBS. Susquehanna reduced their target price on Rambus from $75.00 to $66.00 and set a "positive" rating on the stock in a research note on Friday, July 26th. Rosenblatt Securities reiterated a "buy" rating and issued a $85.00 target price on shares of Rambus in a research note on Tuesday.

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.