New York State Teachers Retirement System Lowers Holdings in Rambus Inc. (NASDAQ:RMBS)

New York State Teachers Retirement System trimmed its position in Rambus Inc. (NASDAQ:RMBS - Free Report) by 22.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 62,357 shares of the semiconductor company's stock after selling 17,893 shares during the period. New York State Teachers Retirement System owned about 0.06% of Rambus worth $3,296,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Quarry LP grew its position in Rambus by 40.3% in the 3rd quarter. Quarry LP now owns 919 shares of the semiconductor company's stock worth $39,000 after purchasing an additional 264 shares in the last quarter. Chartwell Investment Partners LLC grew its position in Rambus by 0.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 38,956 shares of the semiconductor company's stock worth $1,645,000 after purchasing an additional 318 shares in the last quarter. Great Valley Advisor Group Inc. grew its position in Rambus by 4.3% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 8,550 shares of the semiconductor company's stock worth $361,000 after purchasing an additional 350 shares in the last quarter. Blue Trust Inc. grew its position in Rambus by 8.6% in the 4th quarter. Blue Trust Inc. now owns 4,411 shares of the semiconductor company's stock worth $233,000 after purchasing an additional 350 shares in the last quarter. Finally, UMB Bank n.a. grew its position in Rambus by 554.9% in the 4th quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company's stock worth $28,000 after purchasing an additional 455 shares in the last quarter. 88.54% of the stock is owned by institutional investors.

Insider Activity at Rambus

In related news, Director Meera Rao sold 5,408 shares of the company's stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $58.22, for a total transaction of $314,853.76. Following the sale, the director now directly owns 29,090 shares in the company, valued at approximately $1,693,619.80. This represents a 15.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Xianzhi Sean Fan sold 52,327 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $68.02, for a total transaction of $3,559,282.54. Following the completion of the sale, the chief operating officer now owns 93,841 shares in the company, valued at $6,383,064.82. This represents a 35.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 62,360 shares of company stock worth $4,182,809. 1.00% of the stock is owned by corporate insiders.

Rambus Trading Down 3.4 %

Shares of RMBS stock traded down $2.22 during trading on Friday, reaching $62.73. 834,897 shares of the company's stock traded hands, compared to its average volume of 1,246,395. The company has a market capitalization of $6.69 billion, a P/E ratio of 37.79 and a beta of 1.26. The firm's 50-day moving average is $59.58 and its 200 day moving average is $51.17. Rambus Inc. has a 1 year low of $37.42 and a 1 year high of $69.15.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RMBS. 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. Susquehanna increased their target price on shares of Rambus from $66.00 to $70.00 and gave the company a "positive" rating in a research report on Tuesday, February 4th. StockNews.com raised shares of Rambus from a "hold" rating to a "buy" rating in a research report on Wednesday, February 5th. Rosenblatt Securities increased their target price on shares of Rambus from $85.00 to $92.00 and gave the company a "buy" rating in a research report on Tuesday, February 4th. Finally, Evercore ISI assumed coverage on shares of Rambus in a research report on Tuesday, February 4th. They set an "outperform" rating and a $71.00 target price for the company. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $76.71.

Rambus 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.