Franklin Resources Inc. Purchases 27,764 Shares of Rambus Inc. (NASDAQ:RMBS)

Franklin Resources Inc. increased its holdings in shares of Rambus Inc. (NASDAQ:RMBS) by 7.2% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 413,086 shares of the semiconductor company’s stock after purchasing an additional 27,764 shares during the period. Franklin Resources Inc.’s holdings in Rambus were worth $18,612,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quarry LP acquired a new position in shares of Rambus in the second quarter valued at $38,000. Fifth Third Bancorp raised its stake in Rambus by 68.7% in the 2nd quarter. Fifth Third Bancorp now owns 727 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 296 shares in the last quarter. Blue Trust Inc. boosted its holdings in Rambus by 240.6% in the 2nd quarter. Blue Trust Inc. now owns 1,141 shares of the semiconductor company’s stock valued at $71,000 after purchasing an additional 806 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Rambus during the 2nd quarter worth approximately $87,000. Finally, GAMMA Investing LLC raised its position in shares of Rambus by 207.1% in the third quarter. GAMMA Investing LLC now owns 2,623 shares of the semiconductor company’s stock valued at $111,000 after buying an additional 1,769 shares in the last quarter. Institutional investors own 88.54% of the company’s stock.

Insider Buying and Selling at Rambus

In other Rambus news, Director Meera Rao sold 5,408 shares of the stock in a transaction dated Thursday, December 12th. The shares were 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 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.00% of the company’s stock.

Rambus Trading Down 2.2 %

RMBS opened at $53.62 on Friday. The company has a market cap of $5.71 billion, a price-to-earnings ratio of 33.30 and a beta of 1.22. The company’s fifty day moving average price is $52.30 and its two-hundred day moving average price is $50.49. Rambus Inc. has a 1-year low of $37.42 and a 1-year high of $76.38.

Analyst Upgrades and Downgrades

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

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.