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

Franklin Resources Inc. boosted its holdings in shares of Rambus Inc. (NASDAQ:RMBS) by 7.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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. owned about 0.39% of Rambus worth $18,612,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Assenagon Asset Management S.A. boosted its stake in Rambus by 339.3% in the 3rd 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 in the last quarter. AQR Capital Management LLC lifted its holdings in Rambus by 559.7% during the 2nd quarter. AQR Capital Management LLC now owns 572,930 shares of the semiconductor company’s stock valued at $33,133,000 after purchasing an additional 486,078 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in Rambus in the third quarter valued at about $18,984,000. American Century Companies Inc. grew its stake in Rambus by 63.8% during the second quarter. American Century Companies Inc. now owns 1,053,377 shares of the semiconductor company’s stock worth $61,897,000 after buying an additional 410,332 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Rambus by 32.3% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,462,932 shares of the semiconductor company’s stock worth $61,765,000 after acquiring an additional 357,160 shares in the last quarter. 88.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Rambus

In other news, Director Meera Rao sold 5,408 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $58.22, for a total transaction of $314,853.76. Following the completion of the transaction, the director now directly owns 29,090 shares of the company’s stock, valued at $1,693,619.80. This represents a 15.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.00% of the company’s stock.

Rambus Stock Down 2.2 %

Shares of NASDAQ RMBS opened at $53.62 on Friday. The stock has a market cap of $5.71 billion, a price-to-earnings ratio of 33.30 and a beta of 1.22. Rambus Inc. has a twelve month low of $37.42 and a twelve month high of $76.38. The company’s fifty day moving average is $52.30 and its 200-day moving average is $50.49.

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.