Mirae Asset Global Investments Co. Ltd. Acquires 31,011 Shares of Rambus, Inc. (NASDAQ:RMBS)

Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Rambus, Inc. (NASDAQ:RMBS) by 781.5% in the 1st quarter, HoldingsChannel.com reports. The fund owned 34,979 shares of the semiconductor company’s stock after purchasing an additional 31,011 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Rambus were worth $1,878,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Rambus by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 12,594,979 shares of the semiconductor company’s stock worth $665,771,000 after acquiring an additional 31,645 shares during the period. Price T Rowe Associates Inc. MD lifted 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 purchasing an additional 4,445,146 shares during the last quarter. Invesco Ltd. lifted its holdings in Rambus by 72.1% during the 4th 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 last quarter. JPMorgan Chase & Co. lifted its holdings in Rambus by 1.7% during the 4th quarter. JPMorgan Chase & Co. now owns 4,184,370 shares of the semiconductor company’s stock worth $221,186,000 after purchasing an additional 68,975 shares during the last quarter. Finally, Norges Bank acquired a new stake in Rambus during the 4th quarter worth approximately $94,368,000. 88.54% of the stock is currently owned by institutional investors.

Rambus Price Performance

Shares of NASDAQ RMBS opened at $66.06 on Friday. The stock has a market capitalization of $7.10 billion, a PE ratio of 34.41 and a beta of 1.24. The business has a fifty day moving average price of $56.34 and a two-hundred day moving average price of $56.01. Rambus, Inc. has a fifty-two week low of $37.43 and a fifty-two week high of $69.15.

Insiders Place Their Bets

In other news, Director Steven Laub sold 3,653 shares of the business’s stock in a transaction on Monday, May 19th. The stock was sold at an average price of $55.56, for a total transaction of $202,960.68. Following the completion of the transaction, the director owned 10,904 shares of the company’s stock, valued at approximately $605,826.24. The trade was a 25.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Luc Seraphin sold 10,000 shares of the business’s stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $47.79, for a total value of $477,900.00. Following the transaction, the chief executive officer directly owned 326,844 shares of the company’s stock, valued at $15,619,874.76. This trade represents a 2.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,848 shares of company stock valued at $1,548,933 in the last three months. 1.00% of the stock is owned by insiders.

Analyst Ratings Changes

RMBS has been the subject of several research reports. Rosenblatt Securities reissued a “buy” rating and set a $80.00 price target on shares of Rambus in a report on Tuesday, April 29th. Wall Street Zen cut Rambus from a “buy” rating to a “hold” rating in a report on Monday, May 19th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Rambus presently has an average rating of “Buy” and an average target price of $75.00.

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.