Great Lakes Advisors LLC Has $1.07 Million Stock Holdings in 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 reduced its position in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 42.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,561 shares of the semiconductor company's stock after selling 15,394 shares during the quarter. Great Lakes Advisors LLC's holdings in Rambus were worth $1,065,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Rambus by 10.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 182,940 shares of the semiconductor company's stock worth $9,472,000 after acquiring an additional 17,282 shares in the last quarter. Park West Asset Management LLC acquired a new stake in shares of Rambus in the first quarter valued at $30,503,000. Sequoia Financial Advisors LLC increased its stake in shares of Rambus by 19.1% in the first quarter. Sequoia Financial Advisors LLC now owns 5,041 shares of the semiconductor company's stock valued at $261,000 after buying an additional 808 shares in the last quarter. Blair William & Co. IL acquired a new stake in shares of Rambus in the first quarter valued at $235,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Rambus by 53.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 10,602 shares of the semiconductor company's stock valued at $554,000 after buying an additional 3,711 shares in the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Desmond Lynch sold 9,074 shares of the business's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $91.70, for a total transaction of $832,085.80. Following the completion of the transaction, the chief financial officer owned 64,430 shares of the company's stock, valued at approximately $5,908,231. The trade was a 12.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Necip Sayiner sold 7,500 shares of the company's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $73.53, for a total value of $551,475.00. Following the completion of the transaction, the director directly owned 38,324 shares of the company's stock, valued at approximately $2,817,963.72. The trade was a 16.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,260 shares of company stock worth $2,407,852 over the last 90 days. Corporate insiders own 1.00% of the company's stock.

Rambus Stock Down 0.3%

Shares of NASDAQ:RMBS traded down $0.31 during trading on Wednesday, reaching $96.74. 751,891 shares of the company traded hands, compared to its average volume of 1,142,203. The company's 50 day moving average is $73.08 and its two-hundred day moving average is $60.88. The firm has a market capitalization of $10.41 billion, a PE ratio of 45.69 and a beta of 1.38. Rambus, Inc. has a 52 week low of $38.01 and a 52 week high of $100.73.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RMBS shares. Jefferies Financial Group raised their price target on Rambus from $69.00 to $75.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Rosenblatt Securities raised their price target on Rambus from $90.00 to $130.00 and gave the company a "buy" rating in a report on Wednesday. Susquehanna raised their price target on Rambus from $70.00 to $75.00 and gave the company a "positive" rating in a report on Tuesday, July 29th. Evercore ISI raised their target price on Rambus from $81.00 to $114.00 and gave the stock an "outperform" rating in a report on Tuesday. Finally, Arete Research upgraded Rambus to a "strong-buy" rating in a report on Thursday, August 28th. Two equities research analysts have rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $93.50.

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.