MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Cuts Position in Rambus Inc. (NASDAQ:RMBS)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its stake in Rambus Inc. (NASDAQ:RMBS) by 3.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 165,658 shares of the semiconductor company’s stock after selling 6,130 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Rambus were worth $8,757,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Lindbrook Capital LLC grew its position in Rambus by 12.3% in the fourth quarter. Lindbrook Capital LLC now owns 1,513 shares of the semiconductor company’s stock worth $80,000 after acquiring an additional 166 shares in the last quarter. Mariner LLC boosted its position in Rambus by 1.4% during the fourth quarter. Mariner LLC now owns 12,473 shares of the semiconductor company’s stock valued at $659,000 after buying an additional 167 shares during the period. Hillsdale Investment Management Inc. grew its stake in shares of Rambus by 0.4% during the fourth quarter. Hillsdale Investment Management Inc. now owns 45,400 shares of the semiconductor company’s stock valued at $2,400,000 after buying an additional 200 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Rambus by 0.7% during the fourth quarter. Arizona State Retirement System now owns 31,237 shares of the semiconductor company’s stock valued at $1,651,000 after buying an additional 202 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV grew its stake in shares of Rambus by 2.8% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 8,925 shares of the semiconductor company’s stock valued at $472,000 after buying an additional 246 shares during the last quarter. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Rambus Trading Down 0.7%

Rambus stock opened at $56.35 on Friday. The firm has a 50-day moving average of $50.99 and a 200-day moving average of $55.27. The firm has a market cap of $6.05 billion, a P/E ratio of 33.95 and a beta of 1.24. Rambus Inc. has a 1-year low of $37.43 and a 1-year high of $69.15.

Insider Transactions at Rambus

In other news, COO Xianzhi Sean Fan sold 52,327 shares of the stock in a transaction dated 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 completion of the sale, the chief operating officer now directly owns 93,841 shares in the company, valued at approximately $6,383,064.82. This represents a 35.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Luc Seraphin sold 6,348 shares of the firm’s stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $46.97, for a total transaction of $298,165.56. Following the completion of the sale, the chief executive officer now owns 319,241 shares of the company’s stock, valued at $14,994,749.77. This trade represents a 1.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,300 shares of company stock worth $6,745,221. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Susquehanna raised their price objective on Rambus from $66.00 to $70.00 and gave the company a “positive” rating in a research note on Tuesday, February 4th. StockNews.com raised Rambus from a “hold” rating to a “buy” rating in a research note on Sunday, May 4th. Rosenblatt Securities reaffirmed a “buy” rating and set a $80.00 price objective on shares of Rambus in a research note on Tuesday, April 29th. Robert W. Baird set a $90.00 price objective on Rambus in a research note on Monday, February 3rd. Finally, Wells Fargo & Company raised their price objective on Rambus from $62.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $75.00.

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.