Thornburg Investment Management Inc. cut its holdings in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 7.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 81,120 shares of the semiconductor company's stock after selling 6,964 shares during the quarter. Thornburg Investment Management Inc. owned approximately 0.08% of Rambus worth $4,200,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of RMBS. Price T Rowe Associates Inc. MD boosted its stake in Rambus by 442.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,449,128 shares of the semiconductor company's stock valued at $288,042,000 after buying an additional 4,445,146 shares in the last quarter. Invesco Ltd. boosted its stake in Rambus by 72.1% in the fourth quarter. Invesco Ltd. now owns 4,999,748 shares of the semiconductor company's stock valued at $264,287,000 after buying an additional 2,093,953 shares in the last quarter. Norges Bank acquired a new stake in Rambus in the fourth quarter valued at about $94,368,000. Raymond James Financial Inc. acquired a new stake in Rambus in the fourth quarter valued at about $51,500,000. Finally, Analog Century Management LP acquired a new stake in shares of Rambus during the fourth quarter valued at about $43,625,000. 88.54% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
RMBS has been the topic of several recent research reports. Rosenblatt Securities lifted their target price on shares of Rambus from $80.00 to $90.00 and gave the stock a "buy" rating in a research report on Tuesday. Wall Street Zen downgraded shares of Rambus from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Jefferies Financial Group lifted their target price on shares of Rambus from $69.00 to $75.00 and gave the stock a "buy" rating in a research report on Tuesday. Finally, Susquehanna lifted their target price on shares of Rambus from $70.00 to $75.00 and gave the stock a "positive" rating in a research report on Tuesday. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $77.71.
Check Out Our Latest Research Report on RMBS
Rambus Price Performance
Shares of Rambus stock traded down $1.52 during midday trading on Friday, reaching $72.41. The company had a trading volume of 1,910,561 shares, compared to its average volume of 1,251,275. The stock has a fifty day moving average price of $62.58 and a 200 day moving average price of $57.79. The firm has a market cap of $7.78 billion, a PE ratio of 34.16 and a beta of 1.24. Rambus, Inc. has a fifty-two week low of $37.42 and a fifty-two week high of $76.07.
Insider Activity at Rambus
In related news, Director Steven Laub sold 3,653 shares of Rambus stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $55.56, for a total value of $202,960.68. Following the transaction, the director directly owned 10,904 shares of the company's stock, valued at $605,826.24. The trade was a 25.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by corporate insiders.
About Rambus
(
Free Report)
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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