Mirae Asset Global Investments Co. Ltd. Increases Stock Position in Rambus, Inc. (NASDAQ:RMBS)

Mirae Asset Global Investments Co. Ltd. lifted its holdings in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 781.5% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,979 shares of the semiconductor company's stock after buying an additional 31,011 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Rambus were worth $1,878,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RMBS. Diversified Trust Co lifted its holdings in Rambus by 1.8% during the first quarter. Diversified Trust Co now owns 30,592 shares of the semiconductor company's stock worth $1,584,000 after acquiring an additional 551 shares during the period. Sequoia Financial Advisors LLC increased its position in shares of Rambus by 19.1% during the 1st quarter. Sequoia Financial Advisors LLC now owns 5,041 shares of the semiconductor company's stock valued at $261,000 after purchasing an additional 808 shares during the last quarter. Aspetuck Financial Management LLC purchased a new stake in shares of Rambus during the 1st quarter valued at $2,189,000. Oppenheimer Asset Management Inc. raised its stake in shares of Rambus by 4.8% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 5,762 shares of the semiconductor company's stock worth $298,000 after purchasing an additional 266 shares during the period. Finally, State of Alaska Department of Revenue boosted its holdings in shares of Rambus by 2.8% in the 1st quarter. State of Alaska Department of Revenue now owns 12,490 shares of the semiconductor company's stock worth $646,000 after buying an additional 335 shares during the last quarter. Hedge funds and other institutional investors own 88.54% of the company's stock.

Insider Buying and Selling

In other news, CEO Luc Seraphin sold 10,000 shares of the business's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $47.79, for a total transaction of $477,900.00. Following the completion of the transaction, the chief executive officer directly owned 326,844 shares in the company, valued at $15,619,874.76. The trade was a 2.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Steven Laub sold 3,653 shares of the company's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $55.56, for a total transaction of $202,960.68. Following the completion of the transaction, the director directly owned 10,904 shares in the company, valued at approximately $605,826.24. The trade was a 25.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,848 shares of company stock valued at $1,548,933 over the last 90 days. 1.00% of the stock is owned by company insiders.

Rambus Stock Performance

Rambus stock traded up $1.06 during mid-day trading on Friday, reaching $66.06. The company's stock had a trading volume of 664,653 shares, compared to its average volume of 1,249,639. The firm's fifty day moving average price is $56.68 and its two-hundred day moving average price is $56.06. Rambus, Inc. has a 12-month low of $37.43 and a 12-month high of $69.15. The company has a market capitalization of $7.10 billion, a P/E ratio of 34.41 and a beta of 1.24.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RMBS. Rosenblatt Securities reaffirmed a "buy" rating and issued a $80.00 price target on shares of Rambus in a report on Tuesday, April 29th. Wall Street Zen lowered Rambus from a "buy" rating to a "hold" rating in a research note on Monday, May 19th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus 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.