Vanguard Group Inc. Sells 152,567 Shares of Rambus, Inc. (NASDAQ:RMBS)

Vanguard Group Inc. lessened its position in shares of Rambus, Inc. (NASDAQ:RMBS) by 1.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,442,412 shares of the semiconductor company’s stock after selling 152,567 shares during the period. Vanguard Group Inc. owned approximately 11.58% of Rambus worth $644,206,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Wells Fargo & Company MN raised its position in shares of Rambus by 28.2% in the fourth quarter. Wells Fargo & Company MN now owns 97,933 shares of the semiconductor company’s stock valued at $5,177,000 after buying an additional 21,552 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Rambus by 86.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 73,938 shares of the semiconductor company’s stock valued at $3,908,000 after buying an additional 34,193 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Rambus in the fourth quarter valued at approximately $201,000. Townsquare Capital LLC acquired a new stake in shares of Rambus in the fourth quarter valued at approximately $2,452,000. Finally, Barclays PLC raised its position in shares of Rambus by 21.8% in the fourth quarter. Barclays PLC now owns 263,453 shares of the semiconductor company’s stock valued at $13,927,000 after buying an additional 47,194 shares in the last quarter. Institutional investors own 88.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Jefferies Financial Group lifted their price target on shares of Rambus from $69.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, July 29th. Rosenblatt Securities lifted their price target on shares of Rambus from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 29th. Susquehanna lifted their price target on shares of 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 research report on Sunday. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $77.71.

Rambus Price Performance

Shares of RMBS opened at $76.79 on Thursday. Rambus, Inc. has a one year low of $37.42 and a one year high of $78.16. The company has a market cap of $8.26 billion, a P/E ratio of 36.22 and a beta of 1.28. The firm has a 50 day simple moving average of $65.64 and a two-hundred day simple moving average of $58.45.

Insider Buying and Selling at Rambus

In other Rambus news, Director Steven Laub sold 3,653 shares of the business’s stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $55.56, for a total transaction of $202,960.68. Following the completion of the transaction, the director directly owned 10,904 shares in the company, valued at $605,826.24. The trade was a 25.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Necip Sayiner sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $73.53, for a total transaction of $551,475.00. Following the transaction, the director owned 38,324 shares of the company’s stock, valued at approximately $2,817,963.72. This represents a 16.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,111 shares of company stock worth $939,567 over the last three months. Corporate insiders own 1.00% of the company’s stock.

Rambus 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.