South Dakota Investment Council Invests $1.46 Million in Rambus Inc. (NASDAQ:RMBS)

South Dakota Investment Council purchased a new position in shares of Rambus Inc. (NASDAQ:RMBS) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 27,613 shares of the semiconductor company’s stock, valued at approximately $1,460,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. UMB Bank n.a. raised its position in Rambus by 554.9% during the 4th quarter. UMB Bank n.a. now owns 537 shares of the semiconductor company’s stock worth $28,000 after buying an additional 455 shares during the last quarter. Quarry LP increased its stake in shares of Rambus by 40.3% during the third quarter. Quarry LP now owns 919 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 264 shares during the period. GAMMA Investing LLC raised its holdings in Rambus by 19.6% during the fourth quarter. GAMMA Investing LLC now owns 3,137 shares of the semiconductor company’s stock worth $166,000 after purchasing an additional 514 shares in the last quarter. Moody National Bank Trust Division acquired a new stake in Rambus in the fourth quarter valued at about $203,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Rambus by 448.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,968 shares of the semiconductor company’s stock valued at $215,000 after purchasing an additional 3,245 shares in the last quarter. 88.54% of the stock is currently owned by hedge funds and other institutional investors.

Rambus Price Performance

Shares of RMBS stock opened at $62.73 on Monday. The firm has a market capitalization of $6.69 billion, a P/E ratio of 37.79 and a beta of 1.26. Rambus Inc. has a 12 month low of $37.42 and a 12 month high of $69.15. The company’s fifty day moving average price is $59.69 and its two-hundred day moving average price is $51.46.

Insider Buying and Selling

In other Rambus news, COO Xianzhi Sean Fan sold 52,327 shares of the business’s stock in a transaction dated 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 directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Necip Sayiner sold 4,625 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $66.74, for a total value of $308,672.50. Following the completion of the sale, the director now owns 42,000 shares of the company’s stock, valued at approximately $2,803,080. This trade represents a 9.92 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 62,360 shares of company stock worth $4,182,809. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

RMBS has been the subject of a number of analyst reports. Baird R W raised Rambus to a “strong-buy” rating in a research note on Monday, November 25th. StockNews.com upgraded Rambus from a “hold” rating to a “buy” rating in a research report on Wednesday, February 5th. Susquehanna boosted their target price on shares of Rambus from $66.00 to $70.00 and gave the stock a “positive” rating in a research report on Tuesday, February 4th. Robert W. Baird set a $90.00 price target on shares of Rambus in a report on Monday, February 3rd. Finally, Rosenblatt Securities boosted their price objective on shares of Rambus from $85.00 to $92.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $76.71.

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.