Great Lakes Advisors LLC Sells 15,394 Shares of Rambus, Inc. $RMBS

Key Points

• Great Lakes Advisors LLC reduced its holdings in Rambus, Inc. by 42.8%, selling 15,394 shares during the first quarter and now owning 20,561 shares valued at approximately $1,065,000.
• Several large investors increased their stakes in Rambus, including Price T Rowe Associates Inc. MD, which raised its stake by 60.5%, now holding shares worth about $452,870,000.
• Brokerages have recently adjusted their price targets for Rambus; for instance, Rosenblatt Securities increased its target from $80.00 to $90.00, maintaining a "buy" rating.

Great Lakes Advisors LLC decreased its holdings in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 42.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,561 shares of the semiconductor company's stock after selling 15,394 shares during the period. Great Lakes Advisors LLC's holdings in Rambus were worth $1,065,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its stake in Rambus by 60.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,746,856 shares of the semiconductor company's stock worth $452,870,000 after buying an additional 3,297,728 shares in the last quarter. American Century Companies Inc. raised its stake in Rambus by 21.1% in the first quarter. American Century Companies Inc. now owns 1,424,365 shares of the semiconductor company's stock worth $73,747,000 after buying an additional 248,013 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Rambus by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,256,346 shares of the semiconductor company's stock worth $65,047,000 after buying an additional 6,600 shares in the last quarter. Westwood Holdings Group Inc. raised its stake in Rambus by 9.3% in the first quarter. Westwood Holdings Group Inc. now owns 1,232,210 shares of the semiconductor company's stock worth $63,798,000 after buying an additional 104,356 shares in the last quarter. Finally, Congress Asset Management Co. raised its stake in Rambus by 38.5% in the first quarter. Congress Asset Management Co. now owns 1,199,564 shares of the semiconductor company's stock worth $62,107,000 after buying an additional 333,538 shares in the last quarter. Institutional investors own 88.54% of the company's stock.

Insider Activity

In other news, Director Emiko Higashi sold 1,075 shares of the business's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $77.75, for a total transaction of $83,581.25. Following the sale, the director directly owned 62,296 shares of the company's stock, valued at $4,843,514. The trade was a 1.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Meera Rao sold 3,000 shares of the company's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $71.72, for a total transaction of $215,160.00. Following the completion of the sale, the director directly owned 29,914 shares in the company, valued at approximately $2,145,432.08. The trade was a 9.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,686 shares of company stock valued at $933,541 over the last ninety days. 1.00% of the stock is currently owned by insiders.

Rambus Price Performance

Shares of RMBS opened at $88.58 on Friday. The firm has a market capitalization of $9.53 billion, a PE ratio of 41.78 and a beta of 1.38. Rambus, Inc. has a 1-year low of $38.01 and a 1-year high of $89.98. The company's fifty day moving average price is $71.42 and its 200-day moving average price is $60.10.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RMBS. Rosenblatt Securities upped their price target on Rambus from $80.00 to $90.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Wall Street Zen downgraded Rambus from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. Jefferies Financial Group upped their price target on Rambus from $69.00 to $75.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Arete Research raised Rambus to a "strong-buy" rating in a research report on Thursday, August 28th. Finally, Susquehanna upped their price target on Rambus from $70.00 to $75.00 and gave the stock a "positive" rating in a research report on Tuesday, July 29th. Two analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $79.38.

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.

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