Wellington Management Group LLP Sells 210,286 Shares of Rambus Inc. (NASDAQ:RMBS)

Wellington Management Group LLP reduced its stake in Rambus Inc. (NASDAQ:RMBS - Free Report) by 14.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,248,445 shares of the semiconductor company's stock after selling 210,286 shares during the quarter. Wellington Management Group LLP owned about 1.16% of Rambus worth $65,993,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its holdings in Rambus by 442.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,449,128 shares of the semiconductor company's stock worth $288,042,000 after acquiring an additional 4,445,146 shares during the period. Invesco Ltd. raised its position in shares of Rambus by 72.1% during the fourth quarter. Invesco Ltd. now owns 4,999,748 shares of the semiconductor company's stock worth $264,287,000 after purchasing an additional 2,093,953 shares during the period. Norges Bank bought a new position in shares of Rambus in the 4th quarter worth $94,368,000. Raymond James Financial Inc. acquired a new stake in Rambus in the 4th quarter valued at $51,500,000. Finally, Congress Asset Management Co. acquired a new position in Rambus during the fourth quarter worth $45,778,000. 88.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on RMBS shares. Robert W. Baird set a $90.00 price target on Rambus in a research note on Monday, February 3rd. Susquehanna upped their price target on Rambus from $66.00 to $70.00 and gave the stock a "positive" rating in a report on Tuesday, February 4th. Wall Street Zen cut Rambus from a "buy" rating to a "hold" rating in a research note on Monday, May 19th. Evercore ISI initiated coverage on Rambus in a report on Tuesday, February 4th. They issued an "outperform" rating and a $71.00 target price for the company. Finally, Wells Fargo & Company lifted their price objective on shares of Rambus from $62.00 to $73.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $75.00.

Insider Transactions at Rambus

In other news, Director Steven Laub sold 1,847 shares of Rambus stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $55.12, for a total transaction of $101,806.64. Following the completion of the sale, the director now owns 9,057 shares in the company, valued at approximately $499,221.84. This trade represents a 16.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Luc Seraphin sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $58.64, for a total transaction of $586,400.00. Following the completion of the transaction, the chief executive officer now owns 306,931 shares in the company, valued at approximately $17,998,433.84. This trade represents a 3.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 61,848 shares of company stock valued at $3,182,033. 1.00% of the stock is currently owned by corporate insiders.

Rambus Stock Up 1.5%

Rambus stock traded up $0.82 during midday trading on Monday, reaching $54.29. The stock had a trading volume of 241,697 shares, compared to its average volume of 1,274,647. The firm's 50-day moving average price is $50.76 and its 200 day moving average price is $55.42. The firm has a market capitalization of $5.83 billion, a PE ratio of 32.70 and a beta of 1.24. Rambus Inc. has a 12 month low of $37.43 and a 12 month high of $69.15.

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.