Rambus Inc. (NASDAQ:RMBS) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. reduced its stake in Rambus Inc. (NASDAQ:RMBS - Free Report) by 99.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 723 shares of the semiconductor company's stock after selling 153,989 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Rambus were worth $30,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Bleakley Financial Group LLC grew its holdings in shares of Rambus by 2.1% during the 1st quarter. Bleakley Financial Group LLC now owns 10,997 shares of the semiconductor company's stock worth $680,000 after purchasing an additional 229 shares during the period. Fifth Third Bancorp boosted its holdings in Rambus by 68.7% during the 2nd quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company's stock valued at $43,000 after acquiring an additional 296 shares during the period. Russell Investments Group Ltd. boosted its holdings in Rambus by 0.7% during the 1st quarter. Russell Investments Group Ltd. now owns 61,712 shares of the semiconductor company's stock valued at $3,814,000 after acquiring an additional 423 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Rambus by 11.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,996 shares of the semiconductor company's stock valued at $294,000 after acquiring an additional 496 shares during the period. Finally, Janney Montgomery Scott LLC boosted its holdings in Rambus by 2.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 22,785 shares of the semiconductor company's stock valued at $1,408,000 after acquiring an additional 511 shares during the period. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Rambus Stock Performance

RMBS stock traded up $7.44 during mid-day trading on Wednesday, reaching $57.70. The company had a trading volume of 2,707,909 shares, compared to its average volume of 1,574,707. The company has a market capitalization of $6.15 billion, a price-to-earnings ratio of 35.84 and a beta of 1.17. The firm has a fifty day simple moving average of $42.24 and a 200 day simple moving average of $50.48. Rambus Inc. has a fifty-two week low of $37.42 and a fifty-two week high of $76.38.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on RMBS. Rosenblatt Securities restated a "buy" rating and set a $85.00 target price on shares of Rambus in a report on Tuesday, October 29th. Susquehanna lowered their target price on Rambus from $75.00 to $66.00 and set a "positive" rating for the company in a report on Friday, July 26th. Finally, Wells Fargo & Company began coverage on Rambus in a report on Wednesday. They set an "overweight" rating and a $62.00 target price for the company.

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.