Mirae Asset Global Investments Co. Ltd. Reduces Holdings in Rambus Inc. (NASDAQ:RMBS)

Mirae Asset Global Investments Co. Ltd. decreased its position in shares of Rambus Inc. (NASDAQ:RMBS) by 99.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 723 shares of the semiconductor company’s stock after selling 153,989 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Rambus were worth $30,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. grew its holdings in shares of Rambus by 386.3% during the second quarter. Assenagon Asset Management S.A. now owns 288,363 shares of the semiconductor company’s stock worth $16,944,000 after purchasing an additional 229,066 shares during the last quarter. Magnetar Financial LLC purchased a new position in shares of Rambus during the first quarter worth about $1,289,000. SG Americas Securities LLC grew its holdings in shares of Rambus by 221.3% during the first quarter. SG Americas Securities LLC now owns 13,357 shares of the semiconductor company’s stock worth $826,000 after buying an additional 9,200 shares during the last quarter. Swedbank AB grew its holdings in shares of Rambus by 56.1% during the second quarter. Swedbank AB now owns 1,549,850 shares of the semiconductor company’s stock worth $91,069,000 after buying an additional 556,850 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of Rambus by 559.4% during the second quarter. Harbor Capital Advisors Inc. now owns 18,939 shares of the semiconductor company’s stock worth $1,113,000 after buying an additional 16,067 shares during the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Stock Up 3.6 %

Shares of NASDAQ:RMBS opened at $50.26 on Wednesday. The company has a market cap of $5.36 billion, a P/E ratio of 31.22 and a beta of 1.17. Rambus Inc. has a 52 week low of $37.42 and a 52 week high of $76.38. The company has a 50-day moving average price of $42.24 and a 200 day moving average price of $50.48.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on RMBS shares. Rosenblatt Securities reissued a “buy” rating and set a $85.00 price target on shares of Rambus in a report on Tuesday, October 29th. Susquehanna lowered their price target on Rambus from $75.00 to $66.00 and set a “positive” rating on the stock in a report on Friday, July 26th.

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.