Teachers Retirement System of The State of Kentucky Reduces Stock Holdings in Rambus Inc. (NASDAQ:RMBS)

Teachers Retirement System of The State of Kentucky lowered its stake in shares of Rambus Inc. (NASDAQ:RMBS) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 62,272 shares of the semiconductor company’s stock after selling 1,650 shares during the quarter. Teachers Retirement System of The State of Kentucky owned approximately 0.06% of Rambus worth $3,292,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. UMB Bank n.a. grew its stake 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. Skandinaviska Enskilda Banken AB publ grew its position in shares of Rambus by 927.5% during the fourth 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 last quarter. Farther Finance Advisors LLC increased its holdings 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 acquiring an additional 891 shares during the period. GeoWealth Management LLC purchased a new stake in Rambus in the 4th quarter valued at $68,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Rambus during the 4th quarter worth $73,000. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Rambus Trading Up 3.7 %

Shares of RMBS stock opened at $45.94 on Thursday. The stock has a 50 day simple moving average of $52.91 and a 200-day simple moving average of $54.21. The company has a market cap of $4.94 billion, a price-to-earnings ratio of 27.67 and a beta of 1.20. Rambus Inc. has a 12-month low of $37.43 and a 12-month high of $69.15.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Rosenblatt Securities lifted their price objective 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. Wells Fargo & Company boosted their price target on Rambus from $62.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Robert W. Baird set a $90.00 price objective on Rambus in a research report on Monday, February 3rd. Evercore ISI initiated coverage on Rambus in a research note on Tuesday, February 4th. They issued an “outperform” rating and a $71.00 target price on the stock. Finally, StockNews.com upgraded Rambus from a “hold” rating to a “buy” rating in a research note on Friday, April 18th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $76.71.

Insider Buying and Selling

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 stock was sold at an average price of $66.74, for a total transaction of $308,672.50. Following the sale, the director now owns 42,000 shares of the company’s stock, valued at $2,803,080. The trade was a 9.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Luc Seraphin sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $53.79, for a total value of $537,900.00. Following the completion of the transaction, the chief executive officer now directly owns 316,931 shares of the company’s stock, valued at $17,047,718.49. The trade was a 3.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 106,952 shares of company stock valued at $6,447,055 over the last quarter. Company insiders own 1.00% of the company’s stock.

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.