Rambus, Inc. $RMBS Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. cut its stake in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 1.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,442,412 shares of the semiconductor company's stock after selling 152,567 shares during the quarter. Vanguard Group Inc. owned about 11.58% of Rambus worth $644,206,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Mariner LLC raised its stake in Rambus by 1.4% in the fourth quarter. Mariner LLC now owns 12,473 shares of the semiconductor company's stock worth $659,000 after buying an additional 167 shares in the last quarter. Quarry LP raised its holdings in Rambus by 26.9% in the fourth quarter. Quarry LP now owns 1,166 shares of the semiconductor company's stock worth $62,000 after purchasing an additional 247 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in Rambus by 4.8% during the first quarter. Oppenheimer Asset Management Inc. now owns 5,762 shares of the semiconductor company's stock valued at $298,000 after buying an additional 266 shares during the period. Xponance Inc. grew its position in shares of Rambus by 1.8% in the 1st quarter. Xponance Inc. now owns 15,503 shares of the semiconductor company's stock worth $803,000 after buying an additional 280 shares during the period. Finally, Fifth Third Bancorp increased its stake in shares of Rambus by 24.8% during the first quarter. Fifth Third Bancorp now owns 1,418 shares of the semiconductor company's stock valued at $73,000 after purchasing an additional 282 shares in the last quarter. 88.54% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Rambus

In other news, Director Emiko Higashi sold 1,075 shares of the stock in a transaction that occurred 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. This trade represents a 1.70% decrease in their ownership of the stock. 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 stock in a transaction on Friday, August 8th. The shares were sold at an average price of $73.53, for a total value of $551,475.00. Following the sale, the director directly owned 38,324 shares in the company, valued at $2,817,963.72. This trade represents a 16.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,533 shares of company stock valued at $820,188 in the last three months. Company insiders own 1.00% of the company's stock.

Rambus Stock Performance

RMBS stock traded up $1.24 during midday trading on Monday, reaching $75.45. The company's stock had a trading volume of 164,284 shares, compared to its average volume of 1,051,240. Rambus, Inc. has a 1 year low of $37.42 and a 1 year high of $78.16. The firm has a market capitalization of $8.12 billion, a price-to-earnings ratio of 35.59 and a beta of 1.28. The stock has a fifty day simple moving average of $66.37 and a two-hundred day simple moving average of $58.65.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. 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 note on Tuesday, July 29th. Rosenblatt Securities boosted their price target on Rambus from $80.00 to $90.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Susquehanna increased their price objective on Rambus from $70.00 to $75.00 and gave the company a "positive" rating in a research report on Tuesday, July 29th. Finally, Wall Street Zen downgraded shares of Rambus from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $77.71.

About Rambus

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.