Assenagon Asset Management S.A. Purchases New Stake in Rambus Inc. (NASDAQ:RMBS)

Assenagon Asset Management S.A. bought a new stake in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 147,798 shares of the semiconductor company's stock, valued at approximately $10,087,000. Assenagon Asset Management S.A. owned about 0.14% of Rambus at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Mesirow Institutional Investment Management Inc. raised its stake in Rambus by 40.9% during the 3rd quarter. Mesirow Institutional Investment Management Inc. now owns 240,656 shares of the semiconductor company's stock valued at $13,426,000 after purchasing an additional 69,895 shares during the last quarter. Diversified Trust Co raised its stake in Rambus by 3.1% during the 4th quarter. Diversified Trust Co now owns 21,549 shares of the semiconductor company's stock valued at $1,471,000 after purchasing an additional 643 shares during the last quarter. WCM Investment Management LLC acquired a new position in Rambus during the 3rd quarter valued at $9,204,000. DekaBank Deutsche Girozentrale acquired a new position in Rambus during the 3rd quarter valued at $183,000. Finally, Barclays PLC raised its stake in Rambus by 205.1% during the 3rd quarter. Barclays PLC now owns 307,486 shares of the semiconductor company's stock valued at $17,154,000 after purchasing an additional 206,720 shares during the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Rambus

In other news, CEO Luc Seraphin sold 15,000 shares of the company's stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $62.69, for a total value of $940,350.00. Following the sale, the chief executive officer now owns 259,755 shares of the company's stock, valued at approximately $16,284,040.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Rambus news, COO Xianzhi Sean Fan sold 2,004 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $55.00, for a total transaction of $110,220.00. Following the sale, the chief operating officer now owns 121,229 shares of the company's stock, valued at approximately $6,667,595. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Luc Seraphin sold 15,000 shares of the stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $62.69, for a total transaction of $940,350.00. Following the sale, the chief executive officer now directly owns 259,755 shares in the company, valued at approximately $16,284,040.95. The disclosure for this sale can be found here. In the last quarter, insiders have sold 85,554 shares of company stock valued at $5,264,708. 1.00% of the stock is owned by insiders.

Rambus Stock Down 2.0 %

Rambus stock traded down $1.29 on Friday, hitting $61.81. The company's stock had a trading volume of 1,989,746 shares, compared to its average volume of 1,580,514. The company has a fifty day moving average price of $62.27 and a 200-day moving average price of $62.20. Rambus Inc. has a one year low of $43.58 and a one year high of $76.38. The firm has a market cap of $6.71 billion, a P/E ratio of 20.60 and a beta of 1.16.

Rambus (NASDAQ:RMBS - Get Free Report) last posted its earnings results on Monday, February 5th. The semiconductor company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.03. Rambus had a net margin of 72.41% and a return on equity of 17.70%. The business had revenue of $136.00 million for the quarter, compared to analyst estimates of $134.00 million. Analysts anticipate that Rambus Inc. will post 1.63 EPS for the current year.

Analysts Set New Price Targets

RMBS has been the topic of several analyst reports. Wells Fargo & Company boosted their price target on shares of Rambus from $80.00 to $85.00 and gave the company an "overweight" rating in a report on Friday, January 26th. Rosenblatt Securities reissued a "buy" rating and issued a $85.00 price target on shares of Rambus in a report on Wednesday, March 13th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $73.20.

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.