Vanguard Discloses 12.4% Stake in Rambus, Shared Voting Power Shifts

TL;DR

**Vanguard still owns 12.4% of Rambus, a strong vote of confidence despite minor voting power changes.**

AI Summary

The Vanguard Group, a major investment firm, filed an amended SC 13G/A on February 13, 2024, disclosing its ownership in Rambus Inc. As of December 29, 2023, Vanguard beneficially owned 13,767,867 shares of Rambus Common Stock, representing 12.4% of the company. This is an update to their previous filing, indicating a slight decrease in their shared voting power to 202,283 shares, while maintaining significant overall ownership. This matters to investors because Vanguard's substantial stake signals confidence in Rambus, but the slight reduction in shared voting power could be a minor rebalancing.

Why It Matters

Vanguard's continued significant ownership in Rambus Inc. (12.4%) suggests institutional confidence, which can be a positive signal for current and prospective shareholders. However, the minor adjustment in shared voting power could indicate a slight re-evaluation of their active influence.

Risk Assessment

Risk Level: low — This filing primarily updates an existing passive investment, indicating no immediate significant risk or change in company control.

Analyst Insight

Investors should note Vanguard's continued substantial, albeit passive, ownership as a sign of institutional confidence in Rambus. While the slight shift in shared voting power is minor, it's worth monitoring future filings for any significant changes in their overall stake or voting intentions.

Key Numbers

• 12.4% — Percentage of Class Owned (The Vanguard Group's total beneficial ownership of Rambus Common Stock.)
• 13,767,867 — Total Shares Beneficially Owned (The total number of Rambus Common Stock shares The Vanguard Group beneficially owns.)
• 202,283 — Shared Voting Power (The number of shares over which The Vanguard Group has shared voting power.)
• 0 — Sole Voting Power (The number of shares over which The Vanguard Group has sole voting power.)
• 750917106 — CUSIP Number (Unique identifier for Rambus Inc. Common Stock.)

Key Players & Entities

• The Vanguard Group (company) — reporting person and beneficial owner of Rambus shares
• Rambus Inc. (company) — the issuer of the securities being reported on
• Pennsylvania (company) — place of organization for The Vanguard Group
• December 29, 2023 (date) — date of event requiring the filing
• February 13, 2024 (date) — date the SC 13G/A amendment was filed

Forward-Looking Statements

• Vanguard will maintain a significant, passive stake in Rambus Inc. for the foreseeable future. (The Vanguard Group) — high confidence, target: December 2024

FAQ

Filing Documents

• tv01780-rambusinc.htm (SC 13G/A) — 11KB
• 0001104659-24-021794.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: Rambus Inc

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: 4453 North First Street, Suite 100 San Jose, CA 95134

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 750917106

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration

View Full Filing

View this SC 13G/A filing on SEC EDGAR