Great Lakes Advisors LLC Trims Stake in Rambus Inc. (NASDAQ:RMBS)

Great Lakes Advisors LLC lowered its position in Rambus Inc. (NASDAQ:RMBS) by 19.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,955 shares of the semiconductor company’s stock after selling 8,633 shares during the quarter. Great Lakes Advisors LLC’s holdings in Rambus were worth $1,901,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in RMBS. State of New Jersey Common Pension Fund D raised its stake in shares of Rambus by 18.4% in the third quarter. State of New Jersey Common Pension Fund D now owns 44,207 shares of the semiconductor company’s stock valued at $1,866,000 after acquiring an additional 6,877 shares during the period. Oppenheimer Asset Management Inc. purchased a new position in Rambus in the 3rd quarter worth about $227,000. Empowered Funds LLC purchased a new position in Rambus in the 3rd quarter worth about $275,000. Natixis Advisors LLC increased its stake in Rambus by 32.4% in the 3rd quarter. Natixis Advisors LLC now owns 295,307 shares of the semiconductor company’s stock worth $12,468,000 after buying an additional 72,280 shares during the period. Finally, Vaughan Nelson Investment Management L.P. increased its stake in Rambus by 32.3% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,462,932 shares of the semiconductor company’s stock worth $61,765,000 after buying an additional 357,160 shares during the period. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Robert W. Baird set a $90.00 price target on shares of Rambus in a research note on Monday, February 3rd. Wells Fargo & Company raised their price target 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. StockNews.com downgraded shares of Rambus from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Rosenblatt Securities raised their price target on shares of Rambus from $85.00 to $92.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Finally, Baird R W raised shares of Rambus to a “strong-buy” rating in a research report on Monday, November 25th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $76.71.

Rambus Stock Performance

NASDAQ RMBS opened at $54.43 on Friday. Rambus Inc. has a one year low of $37.43 and a one year high of $69.15. The company has a market capitalization of $5.82 billion, a price-to-earnings ratio of 32.79 and a beta of 1.25. The company’s 50-day simple moving average is $59.66 and its two-hundred day simple moving average is $52.39.

Insider Activity

In other news, Director Necip Sayiner sold 4,625 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $66.74, for a total value of $308,672.50. Following the sale, the director now directly owns 42,000 shares in the company, valued at approximately $2,803,080. This trade represents a 9.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Xianzhi Sean Fan sold 52,327 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $68.02, for a total transaction of $3,559,282.54. Following the completion of the sale, the chief operating officer now owns 93,841 shares in the company, valued at $6,383,064.82. This represents a 35.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

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.