Mirae Asset Global Investments Co. Ltd. Buys 3,245 Shares of Rambus Inc. (NASDAQ:RMBS)

Mirae Asset Global Investments Co. Ltd. raised its stake in Rambus Inc. (NASDAQ:RMBS) by 448.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,968 shares of the semiconductor company’s stock after purchasing an additional 3,245 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Rambus were worth $215,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. UMB Bank n.a. increased its position in shares of Rambus by 554.9% during the fourth quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 455 shares in the last quarter. Quarry LP grew its position in Rambus by 40.3% in the 3rd quarter. Quarry LP now owns 919 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 264 shares in the last quarter. GAMMA Investing LLC grew its position in Rambus by 19.6% in the 4th quarter. GAMMA Investing LLC now owns 3,137 shares of the semiconductor company’s stock worth $166,000 after purchasing an additional 514 shares in the last quarter. Blue Trust Inc. boosted its stake in Rambus by 255.9% in the third quarter. Blue Trust Inc. now owns 4,061 shares of the semiconductor company’s stock valued at $171,000 after acquiring an additional 2,920 shares during the last quarter. Finally, Meeder Asset Management Inc. boosted its stake in Rambus by 58.2% in the third quarter. Meeder Asset Management Inc. now owns 4,298 shares of the semiconductor company’s stock valued at $181,000 after acquiring an additional 1,582 shares during the last quarter. 88.54% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Rosenblatt Securities boosted their target price on shares of Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Evercore ISI began coverage on shares of Rambus in a research note on Tuesday, February 4th. They set an “outperform” rating and a $71.00 price target on the stock. Loop Capital began coverage on shares of Rambus in a research note on Monday, November 11th. They issued a “buy” rating and a $70.00 target price on the stock. Wells Fargo & Company increased their target price on shares of Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Finally, Baird R W raised shares of Rambus to a “strong-buy” rating in a report on Monday, November 25th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $77.29.

Rambus Stock Performance

RMBS stock opened at $62.60 on Friday. Rambus Inc. has a 52 week low of $37.42 and a 52 week high of $69.15. The firm’s fifty day moving average is $58.81 and its 200 day moving average is $50.51. The firm has a market cap of $6.67 billion, a P/E ratio of 37.71 and a beta of 1.26.

Insider Activity at Rambus

In other Rambus news, Director Meera Rao sold 5,408 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $58.22, for a total transaction of $314,853.76. Following the completion of the sale, the director now owns 29,090 shares of the company’s stock, valued at $1,693,619.80. This represents a 15.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.00% of the stock is owned by insiders.

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.