Assenagon Asset Management S.A. Decreases Stock Holdings in Rambus Inc. (NASDAQ:RMBS)

Assenagon Asset Management S.A. reduced its position in shares of Rambus Inc. (NASDAQ:RMBS) by 40.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 760,214 shares of the semiconductor company’s stock after selling 506,566 shares during the quarter. Assenagon Asset Management S.A. owned about 0.71% of Rambus worth $40,185,000 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 business. Dimensional Fund Advisors LP lifted its position in Rambus by 9.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,798,485 shares of the semiconductor company’s stock valued at $105,673,000 after purchasing an additional 158,259 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of Rambus by 310.9% during the 2nd quarter. Hsbc Holdings PLC now owns 32,608 shares of the semiconductor company’s stock valued at $1,910,000 after buying an additional 24,673 shares in the last quarter. Seven Eight Capital LP lifted its holdings in shares of Rambus by 207.4% in the 2nd quarter. Seven Eight Capital LP now owns 18,849 shares of the semiconductor company’s stock valued at $1,108,000 after acquiring an additional 12,718 shares during the last quarter. MQS Management LLC purchased a new position in Rambus in the second quarter worth about $226,000. Finally, Canada Pension Plan Investment Board bought a new stake in Rambus during the second quarter worth approximately $893,000. 88.54% of the stock is owned by hedge funds and other institutional investors.

Rambus Price Performance

Shares of RMBS stock opened at $59.67 on Friday. The company’s 50-day simple moving average is $55.96 and its two-hundred day simple moving average is $50.40. Rambus Inc. has a one year low of $37.42 and a one year high of $76.38. The company has a market capitalization of $6.36 billion, a P/E ratio of 37.06 and a beta of 1.23.

Analyst Ratings Changes

Several research firms have recently issued reports on RMBS. Wells Fargo & Company began coverage on Rambus in a research note on Wednesday, November 6th. They issued an “overweight” rating and a $62.00 price objective for the company. Rosenblatt Securities restated a “buy” rating and issued a $85.00 price target on shares of Rambus in a research report on Tuesday, October 29th. Robert W. Baird initiated coverage on shares of Rambus in a research report on Monday, November 25th. They set an “outperform” rating and a $90.00 price objective on the stock. Loop Capital assumed coverage on shares of Rambus in a research note on Monday, November 11th. They set a “buy” rating and a $70.00 price target for the company. Finally, Baird R W raised shares of Rambus to a “strong-buy” rating in a research report on Monday, November 25th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $74.67.

Insider Buying and Selling

In other Rambus news, Director Meera Rao sold 5,408 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $58.22, for a total value of $314,853.76. Following the completion of the sale, the director now directly owns 29,090 shares in the company, valued at approximately $1,693,619.80. This represents a 15.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is owned by insiders.

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.