Vaughan Nelson Investment Management L.P. Sells 727,144 Shares of Rambus Inc. (NASDAQ:RMBS)

Vaughan Nelson Investment Management L.P. decreased its holdings in shares of Rambus Inc. (NASDAQ:RMBS) by 49.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 735,788 shares of the semiconductor company’s stock after selling 727,144 shares during the period. Vaughan Nelson Investment Management L.P. owned 0.69% of Rambus worth $38,894,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in RMBS. State Street Corp grew its stake in shares of Rambus by 3.5% in the third quarter. State Street Corp now owns 4,819,125 shares of the semiconductor company’s stock worth $203,463,000 after acquiring an additional 164,830 shares during the last quarter. Geode Capital Management LLC grew its position in Rambus by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,621,342 shares of the semiconductor company’s stock valued at $110,693,000 after purchasing an additional 21,053 shares during the last quarter. Swedbank AB increased its stake in Rambus by 12.5% during the 3rd quarter. Swedbank AB now owns 1,743,000 shares of the semiconductor company’s stock valued at $73,589,000 after purchasing an additional 193,150 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Rambus by 339.3% in the third quarter. Assenagon Asset Management S.A. now owns 1,266,780 shares of the semiconductor company’s stock worth $53,483,000 after buying an additional 978,417 shares during the last quarter. Finally, Westfield Capital Management Co. LP increased its position in shares of Rambus by 65.3% during the third quarter. Westfield Capital Management Co. LP now owns 902,236 shares of the semiconductor company’s stock valued at $38,092,000 after acquiring an additional 356,496 shares in the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on RMBS shares. Robert W. Baird started coverage on Rambus in a research note on Monday, November 25th. They issued an “outperform” rating and a $90.00 price target for the company. Baird R W upgraded shares of Rambus to a “strong-buy” rating in a research report on Monday, November 25th. Susquehanna increased their price target on Rambus from $66.00 to $70.00 and gave the company a “positive” rating in a report on Tuesday, February 4th. Evercore ISI initiated coverage on Rambus in a research report on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 target price on the stock. Finally, Loop Capital started coverage on shares of Rambus in a research note on Monday, November 11th. They issued a “buy” rating and a $70.00 price objective on the stock. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Rambus has an average rating of “Buy” and a consensus target price of $77.29.

Rambus Stock Down 0.4 %

Shares of Rambus stock opened at $67.00 on Friday. Rambus Inc. has a 52 week low of $37.42 and a 52 week high of $69.15. The stock’s 50-day simple moving average is $58.44 and its 200-day simple moving average is $50.46. The company has a market capitalization of $7.14 billion, a price-to-earnings ratio of 40.36 and a beta of 1.26.

Insider Buying and Selling

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

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.