Assenagon Asset Management S.A. Increases Position in Rambus, Inc. $RMBS

Key Points

• Assenagon Asset Management S.A. significantly increased its stake in Rambus, Inc. by 392.9% in Q2, acquiring a total of 881,562 shares valued at approximately $56.4 million.
• Multiple investment analysts have issued a predominantly positive outlook on Rambus, with a consensus Buy rating and an average price target of $93.50, which indicates strong expected growth potential.
• Insider trading activity has seen notable sales, with Director Necip Sayiner selling 7,500 shares for over $642,000, reflecting a 19.57% decrease in his holdings.

Assenagon Asset Management S.A. lifted its position in shares of Rambus, Inc. (NASDAQ:RMBS - Free Report) by 392.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 881,562 shares of the semiconductor company's stock after purchasing an additional 702,704 shares during the quarter. Assenagon Asset Management S.A. owned 0.82% of Rambus worth $56,438,000 at the end of the most recent reporting period.

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

Rambus Trading Down 5.2%

Shares of RMBS stock traded down $5.57 on Tuesday, reaching $101.37. 2,090,892 shares of the stock were exchanged, compared to its average volume of 1,227,269. The business's 50 day moving average price is $76.23 and its 200 day moving average price is $62.33. The company has a market capitalization of $10.91 billion, a price-to-earnings ratio of 47.90 and a beta of 1.38. Rambus, Inc. has a twelve month low of $38.15 and a twelve month high of $109.15.

Insider Buying and Selling at Rambus

In other news, CFO Desmond Lynch sold 9,074 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $91.70, for a total transaction of $832,085.80. Following the completion of the sale, the chief financial officer owned 64,430 shares in the company, valued at approximately $5,908,231. This represents a 12.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Meera Rao sold 3,000 shares of Rambus stock in a transaction that occurred 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 of the company's stock, 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 a total of 29,260 shares of company stock worth $2,407,852 over the last three months. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RMBS. Jefferies Financial Group upped their price objective 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. Arete raised Rambus from a "neutral" rating to a "buy" rating and set a $91.00 price target on the stock in a report on Thursday, August 28th. Susquehanna lifted their target price on Rambus from $70.00 to $75.00 and gave the stock a "positive" rating in a report on Tuesday, July 29th. Arete Research upgraded shares of Rambus to a "strong-buy" rating in a research note on Thursday, August 28th. Finally, Rosenblatt Securities lifted their target price on Rambus from $90.00 to $130.00 and gave the stock a "buy" rating in a report on Wednesday, September 17th. Two research analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. According to MarketBeat.com, 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.