Rambus, Inc. $RMBS Shares Sold by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments Co. Ltd. reduced its holdings in Rambus, Inc. by 73.9% during the 2nd quarter, bringing its ownership down to 9,127 shares worth approximately $584,000.
• Wall Street analysts have shown mixed sentiment on Rambus, with Arete upgrading it to a "buy" rating and setting a price target of $91.00, while others have issued lower ratings and price targets.
• Rambus shares are currently trading at $89.57, down 9.3%, with a market cap of $9.64 billion and a 52-week range between $40.12 and $109.15.

Mirae Asset Global Investments Co. Ltd. cut its holdings in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 73.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,127 shares of the semiconductor company's stock after selling 25,852 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Rambus were worth $584,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Banque Cantonale Vaudoise acquired a new stake in shares of Rambus in the first quarter valued at approximately $25,000. Tsfg LLC acquired a new stake in shares of Rambus in the first quarter valued at approximately $26,000. McIlrath & Eck LLC acquired a new stake in shares of Rambus in the first quarter valued at approximately $42,000. Larson Financial Group LLC lifted its stake in shares of Rambus by 1,260.3% during the first quarter. Larson Financial Group LLC now owns 857 shares of the semiconductor company's stock valued at $44,000 after buying an additional 794 shares during the period. Finally, Brooklyn Investment Group lifted its stake in shares of Rambus by 19,360.0% during the first quarter. Brooklyn Investment Group now owns 973 shares of the semiconductor company's stock valued at $50,000 after buying an additional 968 shares during the period. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RMBS. Arete raised shares of Rambus from a "neutral" rating to a "buy" rating and set a $91.00 price objective on the stock in a research note on Thursday, August 28th. Wall Street Zen downgraded shares of Rambus from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. Evercore ISI upped their price objective on shares of Rambus from $81.00 to $114.00 and gave the company an "outperform" rating in a research note on Tuesday, September 16th. Robert W. Baird upped their price objective on shares of Rambus from $90.00 to $120.00 and gave the company an "outperform" rating in a research note on Monday, September 15th. Finally, Jefferies Financial Group upped their price objective on shares of Rambus from $69.00 to $75.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $96.63.

Rambus Trading Down 9.3%

Shares of RMBS stock opened at $89.57 on Friday. The company's fifty day simple moving average is $85.28 and its 200-day simple moving average is $66.62. The company has a market cap of $9.64 billion, a PE ratio of 42.25 and a beta of 1.46. Rambus, Inc. has a 52 week low of $40.12 and a 52 week high of $109.15.

Insider Activity

In related news, Director Emiko Higashi sold 1,075 shares of the firm's 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 completion of the sale, the director directly owned 62,296 shares of the company's stock, valued at approximately $4,843,514. This trade represents a 1.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Necip Sayiner sold 7,500 shares of the firm's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $85.63, for a total transaction of $642,225.00. Following the sale, the director directly owned 30,824 shares of the company's stock, valued at approximately $2,639,459.12. The trade was a 19.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,913 shares of company stock valued at $2,474,452 in the last 90 days. Company insiders own 1.00% of the company's stock.

Rambus Company 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.

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