Vaughan Nelson Investment Management L.P. Reduces Stock Holdings in Rambus Inc. (NASDAQ:RMBS)

Vaughan Nelson Investment Management L.P. lessened its stake in shares of Rambus Inc. (NASDAQ:RMBS) by 49.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 735,788 shares of the semiconductor company’s stock after selling 727,144 shares during the quarter. Vaughan Nelson Investment Management L.P.’s holdings in Rambus were worth $38,894,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC raised its stake in shares of Rambus by 1,657.4% in the fourth quarter. SG Americas Securities LLC now owns 552,173 shares of the semiconductor company’s stock valued at $29,188,000 after acquiring an additional 520,754 shares during the period. World Investment Advisors LLC purchased a new stake in Rambus in the 3rd quarter worth about $989,000. Campbell Newman Asset Management Inc. lifted its stake in Rambus by 72.2% in the fourth quarter. Campbell Newman Asset Management Inc. now owns 39,046 shares of the semiconductor company’s stock worth $2,064,000 after purchasing an additional 16,376 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Rambus during the third quarter valued at approximately $2,077,000. Finally, Assenagon Asset Management S.A. boosted its position in shares of Rambus by 339.3% during the third quarter. Assenagon Asset Management S.A. now owns 1,266,780 shares of the semiconductor company’s stock valued at $53,483,000 after buying an additional 978,417 shares during the period. 88.54% of the stock is owned by hedge funds and other institutional investors.

Rambus Stock Performance

NASDAQ:RMBS opened at $67.00 on Friday. The firm has a 50-day simple moving average of $58.44 and a 200-day simple moving average of $50.46. Rambus Inc. has a one year low of $37.42 and a one year high of $69.15. The firm has a market cap of $7.14 billion, a P/E ratio of 40.36 and a beta of 1.26.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Baird R W raised Rambus to a “strong-buy” rating in a research note on Monday, November 25th. Wells Fargo & Company upped their price target on shares of Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Evercore ISI started coverage on shares of Rambus in a report on Tuesday, February 4th. They set an “outperform” rating and a $71.00 price objective for the company. StockNews.com raised shares of Rambus from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Loop Capital began 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. Eight 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 currently has a consensus rating of “Buy” and an average price target of $77.29.

Insider Buying and Selling

In other news, Director Meera Rao sold 5,408 shares of Rambus 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 transaction, the director now directly owns 29,090 shares in the company, valued at approximately $1,693,619.80. This trade represents a 15.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by insiders.

Rambus 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.