Mirae Asset Global Investments Co. Ltd. reduced its stake in shares of Rambus Inc. (NASDAQ:RMBS – Get Rating) by 9.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 275,838 shares of the semiconductor company’s stock after selling 27,695 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.25% of Rambus worth $8,796,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. State Board of Administration of Florida Retirement System grew its position in shares of Rambus by 0.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 62,147 shares of the semiconductor company’s stock valued at $1,982,000 after acquiring an additional 414 shares during the period. Penserra Capital Management LLC boosted its holdings in Rambus by 8.7% in the 1st quarter. Penserra Capital Management LLC now owns 7,101 shares of the semiconductor company’s stock worth $226,000 after buying an additional 571 shares during the period. Mutual of America Capital Management LLC boosted its holdings in Rambus by 5.5% in the 1st quarter. Mutual of America Capital Management LLC now owns 15,759 shares of the semiconductor company’s stock worth $503,000 after buying an additional 817 shares during the period. Guggenheim Capital LLC boosted its holdings in Rambus by 2.7% in the 1st quarter. Guggenheim Capital LLC now owns 40,345 shares of the semiconductor company’s stock worth $1,287,000 after buying an additional 1,056 shares during the period. Finally, New Century Advisors LLC boosted its holdings in Rambus by 18.1% in the 1st quarter. New Century Advisors LLC now owns 7,760 shares of the semiconductor company’s stock worth $247,000 after buying an additional 1,190 shares during the period. 86.28% of the stock is owned by institutional investors.
Rambus Price Performance
Shares of NASDAQ:RMBS opened at $25.56 on Wednesday. The firm has a fifty day moving average price of $25.50 and a two-hundred day moving average price of $25.54. Rambus Inc. has a one year low of $20.00 and a one year high of $33.75. The company has a market cap of $2.83 billion, a price-to-earnings ratio of -121.71 and a beta of 1.20.
Wall Street Analyst Weigh In
Separately, TheStreet raised shares of Rambus from a “c” rating to a “b-” rating in a report on Tuesday, August 2nd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Rambus presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.20.
Rambus Inc provides semiconductor products in the United States, Taiwan, South Korea, Japan, Europe, Canada, Singapore, China, and internationally. The company offers DDR memory interface chips, including DDR5, DDR4 and DDR3 memory interface chips to module manufacturers and OEMs; silicon IP comprising, interface and security IP solutions that move and protect data in advanced applications; and physical interface and digital controller IP to offer industry-leading, integrated memory and interconnect subsystems.
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