MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Boosts Stake in Rambus, Inc. $RMBS

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Rambus, Inc. by 10.4% during the first quarter, now holding approximately 0.17% of the company valued at $9.47 million.
• Rambus experienced a series of analyst upgrades, with Arete Research assigning a "strong-buy" rating and an increased price target of $91.00.
• Corporate insiders have recently sold 12,686 shares of Rambus stock, with significant sales by two directors, reflecting a decrease in their ownership percentage.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Rambus, Inc. (NASDAQ:RMBS - Free Report) by 10.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 182,940 shares of the semiconductor company's stock after purchasing an additional 17,282 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.17% of Rambus worth $9,472,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in RMBS. Ameriprise Financial Inc. grew its stake in Rambus by 9.1% in the 4th quarter. Ameriprise Financial Inc. now owns 249,130 shares of the semiconductor company's stock worth $13,169,000 after acquiring an additional 20,682 shares in the last quarter. Cetera Investment Advisers grew its stake in Rambus by 3.2% in the 4th quarter. Cetera Investment Advisers now owns 24,486 shares of the semiconductor company's stock worth $1,294,000 after acquiring an additional 757 shares in the last quarter. Deutsche Bank AG grew its stake in Rambus by 40.1% in the 4th quarter. Deutsche Bank AG now owns 139,002 shares of the semiconductor company's stock worth $7,348,000 after acquiring an additional 39,798 shares in the last quarter. Lazard Asset Management LLC grew its stake in Rambus by 112.3% in the 4th quarter. Lazard Asset Management LLC now owns 69,169 shares of the semiconductor company's stock worth $3,655,000 after acquiring an additional 36,582 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its stake in Rambus by 12.2% in the 4th quarter. Nuveen Asset Management LLC now owns 1,064,700 shares of the semiconductor company's stock worth $56,280,000 after acquiring an additional 116,079 shares in the last quarter. 88.54% of the stock is currently owned by institutional investors.

Rambus Price Performance

RMBS stock traded down $2.55 during midday trading on Friday, hitting $86.03. 2,245,628 shares of the stock traded hands, compared to its average volume of 1,394,158. The firm has a market cap of $9.26 billion, a P/E ratio of 40.58 and a beta of 1.38. The stock's fifty day simple moving average is $71.82 and its 200-day simple moving average is $60.29. Rambus, Inc. has a 1-year low of $38.01 and a 1-year high of $89.98.

Wall Street Analysts Forecast Growth

RMBS has been the subject of several research reports. Arete raised shares of Rambus from a "neutral" rating to a "buy" rating and set a $91.00 price target for the company in a research report on Thursday, August 28th. Jefferies Financial Group upped their price target on shares of Rambus from $69.00 to $75.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Rosenblatt Securities increased their target price on shares of Rambus from $80.00 to $90.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Wall Street Zen cut shares of Rambus from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. Finally, Arete Research raised shares of Rambus to a "strong-buy" rating in a research report on Thursday, August 28th. Two equities research analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $79.38.

Insider Activity at Rambus

In related news, Director Meera Rao sold 3,000 shares of the firm'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 sale, the director owned 29,914 shares in the company, valued at approximately $2,145,432.08. This trade represents a 9.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Emiko Higashi sold 1,075 shares of the 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 transaction, the director directly owned 62,296 shares in the company, valued at approximately $4,843,514. The trade was a 1.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,186 shares of company stock worth $1,575,766. 1.00% of the stock is owned by company insiders.

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.