Rambus Inc. (NASDAQ:RMBS) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama reduced its holdings in Rambus Inc. (NASDAQ:RMBS) by 0.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,587 shares of the semiconductor company’s stock after selling 1,219 shares during the quarter. Retirement Systems of Alabama’s holdings in Rambus were worth $6,850,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. UMB Bank n.a. lifted its position in shares of Rambus by 554.9% during the 4th quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 455 shares during the last quarter. Quarry LP increased its stake in Rambus by 40.3% in the 3rd quarter. Quarry LP now owns 919 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 264 shares in the last quarter. GAMMA Investing LLC raised its holdings in Rambus by 207.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,623 shares of the semiconductor company’s stock worth $111,000 after buying an additional 1,769 shares during the period. Blue Trust Inc. boosted its holdings in shares of Rambus by 255.9% in the third quarter. Blue Trust Inc. now owns 4,061 shares of the semiconductor company’s stock worth $171,000 after buying an additional 2,920 shares during the period. Finally, Meeder Asset Management Inc. increased its position in shares of Rambus by 58.2% in the third quarter. Meeder Asset Management Inc. now owns 4,298 shares of the semiconductor company’s stock worth $181,000 after acquiring an additional 1,582 shares in the last quarter. 88.54% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Meera Rao sold 5,408 shares of the company’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 completion of the transaction, the director now owns 29,090 shares in the company, valued at $1,693,619.80. This represents a 15.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by company insiders.

Rambus Trading Down 0.4 %

Shares of NASDAQ:RMBS opened at $67.00 on Monday. Rambus Inc. has a 1-year low of $37.42 and a 1-year high of $69.15. The stock has a market capitalization of $7.14 billion, a P/E ratio of 40.36 and a beta of 1.26. The business has a 50-day moving average price of $58.44 and a two-hundred day moving average price of $50.37.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Susquehanna boosted their target price on shares of Rambus from $66.00 to $70.00 and gave the company a “positive” rating in a research note on Tuesday, February 4th. Rosenblatt Securities boosted their price objective on shares of Rambus from $85.00 to $92.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Wells Fargo & Company upped their price target on shares of Rambus from $62.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Baird R W raised Rambus to a “strong-buy” rating in a research report on Monday, November 25th. Finally, StockNews.com upgraded Rambus from a “hold” rating to a “buy” rating in a report on Wednesday, February 5th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $77.29.

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.