New York State Common Retirement Fund Has $9.65 Million Stock Holdings in Rambus Inc. (NASDAQ:RMBS)

New York State Common Retirement Fund increased its position in Rambus Inc. (NASDAQ:RMBS) by 14.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 182,460 shares of the semiconductor company’s stock after purchasing an additional 22,660 shares during the quarter. New York State Common Retirement Fund’s holdings in Rambus were worth $9,645,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nations Financial Group Inc. IA ADV grew its position in shares of Rambus by 2.8% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 8,925 shares of the semiconductor company’s stock worth $472,000 after buying an additional 246 shares during the period. Quarry LP boosted its stake in Rambus by 40.3% in the third 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. Chartwell Investment Partners LLC grew its holdings in Rambus by 0.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 38,956 shares of the semiconductor company’s stock worth $1,645,000 after acquiring an additional 318 shares during the period. Great Valley Advisor Group Inc. raised its position in shares of Rambus by 4.3% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 8,550 shares of the semiconductor company’s stock valued at $361,000 after acquiring an additional 350 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Rambus by 8.6% in the 4th quarter. Blue Trust Inc. now owns 4,411 shares of the semiconductor company’s stock valued at $233,000 after purchasing an additional 350 shares during the period. 88.54% of the stock is owned by institutional investors.

Rambus Stock Performance

NASDAQ RMBS opened at $57.43 on Wednesday. The stock has a market cap of $6.12 billion, a price-to-earnings ratio of 34.60 and a beta of 1.26. The business has a 50 day simple moving average of $59.71 and a 200 day simple moving average of $51.58. Rambus Inc. has a 52-week low of $37.42 and a 52-week high of $69.15.

Insider Activity

In other Rambus news, COO Xianzhi Sean Fan sold 52,327 shares of the company’s 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 transaction, the chief operating officer now owns 93,841 shares of the company’s stock, valued at $6,383,064.82. This represents a 35.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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 stock was sold at an average price of $66.74, for a total transaction of $308,672.50. Following the transaction, the director now directly owns 42,000 shares of the company’s stock, valued at $2,803,080. This represents a 9.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 62,360 shares of company stock worth $4,182,809 over the last quarter. 1.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Wells Fargo & Company lifted their price objective on Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Rosenblatt Securities upped their price target on Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Robert W. Baird set a $90.00 price objective on shares of Rambus in a research note on Monday, February 3rd. Evercore ISI began coverage on shares of Rambus in a research note on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 target price for the company. Finally, Baird R W upgraded shares of Rambus to a “strong-buy” rating in a report on Monday, November 25th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Rambus currently has a consensus rating of “Buy” and a consensus target price of $76.71.

Rambus Company 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.