Wellington Management Group LLP Decreases Stake in Rambus Inc. (NASDAQ:RMBS)

Wellington Management Group LLP reduced its stake in Rambus Inc. (NASDAQ:RMBS - Free Report) by 76.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,458,731 shares of the semiconductor company's stock after selling 4,744,367 shares during the quarter. Wellington Management Group LLP owned approximately 1.37% of Rambus worth $61,588,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp increased its holdings in shares of Rambus by 3.5% during the 3rd quarter. State Street Corp now owns 4,819,125 shares of the semiconductor company's stock worth $203,463,000 after buying an additional 164,830 shares during the last quarter. Hood River Capital Management LLC increased its stake in Rambus by 5.7% during 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 acquiring an additional 116,976 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Rambus by 9.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,798,485 shares of the semiconductor company's stock valued at $105,673,000 after purchasing an additional 158,259 shares during the last quarter. Swedbank AB grew its holdings in shares of Rambus by 12.5% during the 3rd 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, Vaughan Nelson Investment Management L.P. boosted 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 buying an additional 357,160 shares during the period. 88.54% of the stock is owned by institutional investors and hedge funds.

Rambus Price Performance

Shares of NASDAQ RMBS traded up $1.07 during mid-day trading on Wednesday, hitting $59.06. The company had a trading volume of 980,882 shares, compared to its average volume of 1,496,937. The company has a market capitalization of $6.29 billion, a PE ratio of 36.02 and a beta of 1.22. The business's 50-day simple moving average is $50.06 and its 200 day simple moving average is $50.34. Rambus Inc. has a 1-year low of $37.42 and a 1-year high of $76.38.

Analysts Set New Price Targets

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

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.