Fintel reports that Vanguard Group has filed a 13G/A form with the SEC disclosing ownership of 12.48MM shares of Rambus Inc. (RMBS). This represents 11.61% of the company.
In their previous filing dated February 10, 2022 they reported 11.86MM shares and 10.85% of the company, an increase in shares of 5.22% and an increase in total ownership of 0.76% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 11.79% Downside
As of February 8, 2023, the average one-year price target for Rambus is $38.56. The forecasts range from a low of $32.32 to a high of $47.25. The average price target represents a decrease of 11.79% from its latest reported closing price of $43.71.
The projected annual revenue for Rambus is $606MM, an increase of 33.28%. The projected annual EPS is $1.78.
What is the Fund Sentiment?
There are 586 funds or institutions reporting positions in Rambus. This is an increase of 4 owner(s) or 0.69% in the last quarter. Average portfolio weight of all funds dedicated to RMBS is 0.31%, an increase of 24.10%. Total shares owned by institutions decreased in the last three months by 2.06% to 111,199K shares. The put/call ratio of RMBS is 0.36, indicating a bullish outlook.
What are large shareholders doing?
IJR - iShares Core S&P Small-Cap ETF holds 8,079K shares representing 7.52% ownership of the company. In it's prior filing, the firm reported owning 7,697K shares, representing an increase of 4.73%. The firm increased its portfolio allocation in RMBS by 26.01% over the last quarter.
Ameriprise Financial holds 5,468K shares representing 5.09% ownership of the company. In it's prior filing, the firm reported owning 5,279K shares, representing an increase of 3.45%. The firm decreased its portfolio allocation in RMBS by 76.19% over the last quarter.
Neuberger Berman Group holds 5,138K shares representing 4.78% ownership of the company. In it's prior filing, the firm reported owning 5,068K shares, representing an increase of 1.36%. The firm increased its portfolio allocation in RMBS by 24.87% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,299K shares representing 3.07% ownership of the company. In it's prior filing, the firm reported owning 3,260K shares, representing an increase of 1.19%. The firm increased its portfolio allocation in RMBS by 24.78% over the last quarter.
Westwood Holdings Group holds 2,920K shares representing 2.72% ownership of the company. In it's prior filing, the firm reported owning 3,150K shares, representing a decrease of 7.88%. The firm increased its portfolio allocation in RMBS by 18.51% over the last quarter.
Rambus Background Information
(This description is provided by the company.)
Rambus is a provider of industry-leading chips and silicon IP making data faster and safer. With over 30 years of advanced semiconductor experience, it is a pioneer in high-performance memory subsystems that solve the bottleneck between memory and processing for data-intensive systems. Whether in the cloud, at the edge or in your hand, real-time and immersive applications depend on data throughput and integrity. Rambus products and innovations deliver the increased bandwidth, capacity and security required to meet the world's data needs and drive ever-greater end-user experiences.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
