Rambus Inc. (NASDAQ:RMBS) Shares Purchased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio raised its position in Rambus Inc. (NASDAQ:RMBS - Free Report) by 33.6% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 172,534 shares of the semiconductor company's stock after buying an additional 43,351 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.16% of Rambus worth $7,284,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of RMBS. State Street Corp raised its position in Rambus by 3.5% in the third quarter. State Street Corp now owns 4,819,125 shares of the semiconductor company's stock worth $203,463,000 after acquiring an additional 164,830 shares in the last quarter. Hood River Capital Management LLC grew its stake in shares of Rambus by 5.7% during the 2nd quarter. Hood River Capital Management LLC now owns 2,165,548 shares of the semiconductor company's stock worth $127,248,000 after purchasing an additional 116,976 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Rambus by 9.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,798,485 shares of the semiconductor company's stock valued at $105,673,000 after purchasing an additional 158,259 shares in the last quarter. Swedbank AB lifted its stake in shares of Rambus by 12.5% in the third quarter. Swedbank AB now owns 1,743,000 shares of the semiconductor company's stock valued at $73,589,000 after purchasing an additional 193,150 shares during the period. Finally, Vaughan Nelson Investment Management L.P. boosted its holdings in Rambus by 32.3% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,462,932 shares of the semiconductor company's stock worth $61,765,000 after buying an additional 357,160 shares in the last quarter. Hedge funds and other institutional investors own 88.54% of the company's stock.

Wall Street Analysts Forecast Growth

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

Rambus Price Performance

RMBS stock traded down $0.69 during midday trading on Friday, hitting $57.41. The stock had a trading volume of 1,238,606 shares, compared to its average volume of 1,491,590. The company's 50-day moving average price is $50.79 and its 200 day moving average price is $50.45. The firm has a market cap of $6.12 billion, a PE ratio of 35.66 and a beta of 1.22. Rambus Inc. has a 12-month low of $37.42 and a 12-month high of $76.38.

Insider Activity

In related news, Director Meera Rao sold 5,408 shares of the firm'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 value of $314,853.76. Following the sale, the director now directly owns 29,090 shares of the company's stock, valued at approximately $1,693,619.80. This trade represents a 15.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.00% of the company's stock.

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.