Rambus Inc. (NASDAQ:RMBS) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. trimmed its position in shares of Rambus Inc. (NASDAQ:RMBS) by 99.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 723 shares of the semiconductor company’s stock after selling 153,989 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Rambus were worth $30,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Quarry LP acquired a new stake in shares of Rambus in the second quarter valued at $38,000. Fifth Third Bancorp raised its stake in shares of Rambus by 68.7% in the second quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 296 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Rambus by 240.6% in the second quarter. Blue Trust Inc. now owns 1,141 shares of the semiconductor company’s stock valued at $71,000 after acquiring an additional 806 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Rambus in the second quarter valued at $87,000. Finally, GAMMA Investing LLC raised its stake in shares of Rambus by 207.1% in the third quarter. GAMMA Investing LLC now owns 2,623 shares of the semiconductor company’s stock valued at $111,000 after acquiring an additional 1,769 shares in the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Rambus Price Performance

Rambus stock opened at $50.26 on Wednesday. Rambus Inc. has a 1-year low of $37.42 and a 1-year high of $76.38. The stock has a market cap of $5.36 billion, a PE ratio of 31.22 and a beta of 1.17. The stock’s fifty day moving average is $42.24 and its two-hundred day moving average is $50.48.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on RMBS shares. Susquehanna reduced their price objective on Rambus from $75.00 to $66.00 and set a “positive” rating on the stock in a research note on Friday, July 26th. Rosenblatt Securities restated a “buy” rating and issued a $85.00 price target on shares of Rambus in a research note on Tuesday, October 29th.

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.