Arizona State Retirement System Buys 202 Shares of Rambus Inc. (NASDAQ:RMBS)

Arizona State Retirement System increased its position in Rambus Inc. (NASDAQ:RMBS) by 0.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 31,237 shares of the semiconductor company’s stock after acquiring an additional 202 shares during the quarter. Arizona State Retirement System’s holdings in Rambus were worth $1,651,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. US Bancorp DE lifted its stake in shares of Rambus by 19.4% in the third quarter. US Bancorp DE now owns 9,359 shares of the semiconductor company’s stock worth $395,000 after buying an additional 1,518 shares in the last quarter. Assetmark Inc. raised its holdings in Rambus by 11.7% in the 3rd quarter. Assetmark Inc. now owns 98,738 shares of the semiconductor company’s stock worth $4,169,000 after acquiring an additional 10,355 shares during the last quarter. State of New Jersey Common Pension Fund D raised its holdings in Rambus by 18.4% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 44,207 shares of the semiconductor company’s stock worth $1,866,000 after acquiring an additional 6,877 shares during the last quarter. Chartwell Investment Partners LLC lifted 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 valued at $1,645,000 after acquiring an additional 318 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV boosted its stake in Rambus by 47.6% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 8,679 shares of the semiconductor company’s stock valued at $366,000 after purchasing an additional 2,797 shares during the last quarter. 88.54% of the stock is owned by hedge funds and other institutional investors.

Rambus Trading Down 0.8 %

RMBS opened at $51.55 on Wednesday. The company’s 50 day moving average is $59.71 and its 200 day moving average is $52.27. The company has a market cap of $5.51 billion, a price-to-earnings ratio of 31.05 and a beta of 1.25. Rambus Inc. has a 12-month low of $37.43 and a 12-month high of $69.15.

Insider Transactions at Rambus

In other news, Director Necip Sayiner sold 4,625 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $66.74, for a total value of $308,672.50. Following the transaction, the director now owns 42,000 shares of the company’s stock, valued at $2,803,080. This trade represents a 9.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Meera Rao sold 5,408 shares of the business’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 transaction, the director now 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 disclosure for this sale can be found here. Insiders have sold 62,360 shares of company stock worth $4,182,809 in the last 90 days. 1.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

RMBS has been the subject of several recent analyst reports. Evercore ISI began coverage on Rambus in a research note on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 price target for the company. Rosenblatt Securities upped their target price on shares of Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Baird R W upgraded shares of Rambus to a “strong-buy” rating in a research note on Monday, November 25th. StockNews.com downgraded shares of Rambus from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Finally, Susquehanna raised their target price on shares of Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a report on Tuesday, February 4th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $76.71.

About Rambus

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.