California Public Employees Retirement System lessened its holdings in shares of Rambus Inc. (NASDAQ:RMBS - Free Report) by 5.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 173,736 shares of the semiconductor company's stock after selling 10,267 shares during the quarter. California Public Employees Retirement System owned 0.16% of Rambus worth $9,184,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Lindbrook Capital LLC lifted its position in shares of Rambus by 12.3% during the fourth quarter. Lindbrook Capital LLC now owns 1,513 shares of the semiconductor company's stock worth $80,000 after purchasing an additional 166 shares during the last quarter. Hillsdale Investment Management Inc. raised its stake in Rambus by 0.4% during the fourth quarter. Hillsdale Investment Management Inc. now owns 45,400 shares of the semiconductor company's stock valued at $2,400,000 after buying an additional 200 shares in the last quarter. Arizona State Retirement System lifted its holdings in Rambus by 0.7% during the 4th quarter. Arizona State Retirement System now owns 31,237 shares of the semiconductor company's stock worth $1,651,000 after buying an additional 202 shares during the last quarter. Nations Financial Group Inc. IA ADV grew its position in shares of Rambus by 2.8% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 8,925 shares of the semiconductor company's stock worth $472,000 after acquiring an additional 246 shares in the last quarter. Finally, Quarry LP increased its holdings in shares of Rambus by 40.3% in the 3rd quarter. Quarry LP now owns 919 shares of the semiconductor company's stock valued at $39,000 after acquiring an additional 264 shares during the last quarter. 88.54% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Rambus
In other news, CEO Luc Seraphin sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $53.79, for a total value of $537,900.00. Following the completion of the sale, the chief executive officer now directly owns 316,931 shares of the company's stock, valued at approximately $17,047,718.49. This represents a 3.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Necip Sayiner sold 4,625 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $66.74, for a total transaction of $308,672.50. Following the transaction, the director now owns 42,000 shares in the company, valued at $2,803,080. This represents a 9.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 96,952 shares of company stock valued at $5,969,155 in the last quarter. Corporate insiders own 1.00% of the company's stock.
Rambus Stock Performance
Shares of RMBS traded up $0.80 during mid-day trading on Friday, reaching $47.04. 992,130 shares of the company's stock traded hands, compared to its average volume of 1,312,494. The business's 50-day moving average price is $56.03 and its 200-day moving average price is $54.04. The stock has a market capitalization of $5.05 billion, a P/E ratio of 28.34 and a beta of 1.20. Rambus Inc. has a 12 month low of $37.43 and a 12 month high of $69.15.
Wall Street Analyst Weigh In
A number of equities analysts have commented on RMBS shares. StockNews.com downgraded shares of Rambus from a "buy" rating to a "hold" rating in a report on Wednesday, March 5th. Susquehanna lifted their price target on shares of Rambus from $66.00 to $70.00 and gave the company a "positive" rating in a report on Tuesday, February 4th. Evercore ISI started coverage on shares of Rambus in a research report on Tuesday, February 4th. They set an "outperform" rating and a $71.00 price objective for the company. Wells Fargo & Company raised their target price on shares of Rambus from $62.00 to $73.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. Finally, Robert W. Baird set a $90.00 target price on Rambus in a report on Monday, February 3rd. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Rambus has a consensus rating of "Buy" and a consensus target price of $76.71.
View Our Latest Stock Analysis on RMBS
About Rambus
(
Free Report)
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.
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