Arizona State Retirement System Boosts Stock Position in Rambus Inc. (NASDAQ:RMBS)

Arizona State Retirement System lifted its position in shares of Rambus Inc. (NASDAQ:RMBS) by 0.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,237 shares of the semiconductor company’s stock after buying an additional 202 shares during the period. Arizona State Retirement System’s holdings in Rambus were worth $1,651,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Proficio Capital Partners LLC purchased a new position in shares of Rambus during the fourth quarter worth approximately $978,000. M&T Bank Corp purchased a new stake in shares of Rambus in the 4th quarter valued at $233,000. Atria Investments Inc bought a new position in shares of Rambus during the 4th quarter valued at $336,000. Assetmark Inc. raised its position in Rambus by 6.3% in the 4th quarter. Assetmark Inc. now owns 104,946 shares of the semiconductor company’s stock worth $5,547,000 after purchasing an additional 6,208 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Rambus by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,249,746 shares of the semiconductor company’s stock worth $66,062,000 after purchasing an additional 5,761 shares during the last quarter. Institutional investors own 88.54% of the company’s stock.

Rambus Trading Down 0.8 %

Shares of RMBS opened at $51.55 on Wednesday. Rambus Inc. has a 1-year low of $37.43 and a 1-year high of $69.15. The firm has a market capitalization of $5.51 billion, a price-to-earnings ratio of 31.05 and a beta of 1.25. The firm’s 50-day moving average price is $59.71 and its 200-day moving average price is $52.27.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Baird R W raised Rambus to a “strong-buy” rating in a research note on Monday, November 25th. Robert W. Baird set a $90.00 target price on shares of Rambus in a report on Monday, February 3rd. Evercore ISI began coverage on shares of Rambus in a research report on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 price objective on the stock. Susquehanna increased 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. Finally, Rosenblatt Securities raised their target price on Rambus from $85.00 to $92.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $76.71.

Insider Buying and Selling at Rambus

In other news, COO Xianzhi Sean Fan sold 52,327 shares of the business’s stock in a transaction 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 sale, the chief operating officer now owns 93,841 shares in the company, valued at approximately $6,383,064.82. The trade was a 35.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Necip Sayiner sold 4,625 shares of the stock in a transaction dated Wednesday, February 19th. The stock was 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 owns 42,000 shares of the company’s stock, valued at approximately $2,803,080. The trade was a 9.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 62,360 shares of company stock valued at $4,182,809. 1.00% of the stock is currently owned by corporate insiders.

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.