Teacher Retirement System of Texas Sells 10,242 Shares of Rambus Inc. (NASDAQ:RMBS)

Teacher Retirement System of Texas cut its stake in Rambus Inc. (NASDAQ:RMBS) by 28.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,957 shares of the semiconductor company’s stock after selling 10,242 shares during the quarter. Teacher Retirement System of Texas’ holdings in Rambus were worth $1,372,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. UMB Bank n.a. raised its stake in Rambus by 554.9% in the fourth quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company’s stock worth $28,000 after buying an additional 455 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Rambus by 927.5% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 709 shares of the semiconductor company’s stock worth $38,000 after acquiring an additional 640 shares during the period. Quarry LP raised its position in shares of Rambus by 40.3% in the 3rd quarter. Quarry LP now owns 919 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 264 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Rambus by 379.1% in the 4th quarter. Farther Finance Advisors LLC now owns 1,126 shares of the semiconductor company’s stock valued at $60,000 after purchasing an additional 891 shares during the period. Finally, Lindbrook Capital LLC boosted 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 valued at $80,000 after purchasing an additional 166 shares in the last quarter. 88.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RMBS has been the subject of several recent research reports. Evercore ISI assumed coverage on Rambus in a research report on Tuesday, February 4th. They set an “outperform” rating and a $71.00 price objective for the company. StockNews.com cut shares of Rambus from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Susquehanna upped their price objective on shares of Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a report on Tuesday, February 4th. Wells Fargo & Company lifted their target price on shares of Rambus from $62.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Finally, Rosenblatt Securities upped their price target on Rambus from $85.00 to $92.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. One equities research 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $76.71.

Rambus Trading Down 3.1 %

RMBS stock opened at $53.70 on Friday. The stock has a market capitalization of $5.77 billion, a PE ratio of 32.35 and a beta of 1.25. The stock’s 50 day simple moving average is $59.37 and its 200 day simple moving average is $53.33. Rambus Inc. has a 12-month low of $37.43 and a 12-month high of $69.15.

Insider Activity

In other news, Director Necip Sayiner sold 4,625 shares of the business’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 completion of the transaction, the director now directly owns 42,000 shares of the company’s stock, valued at $2,803,080. The trade was a 9.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Xianzhi Sean Fan sold 52,327 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $68.02, for a total transaction of $3,559,282.54. Following the transaction, the chief operating officer now owns 93,841 shares in the company, valued at approximately $6,383,064.82. This trade represents a 35.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 76,952 shares of company stock valued at $4,992,255 over the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

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.