Rambus, Inc. $RMBS Shares Bought by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D boosted its position in shares of Rambus, Inc. (NASDAQ:RMBS) by 1.6% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 34,546 shares of the semiconductor company’s stock after acquiring an additional 559 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Rambus were worth $2,212,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RMBS. Banque Cantonale Vaudoise acquired a new position in shares of Rambus in the 1st quarter valued at about $25,000. McIlrath & Eck LLC acquired a new position in shares of Rambus in the 1st quarter valued at about $42,000. Larson Financial Group LLC raised its holdings in Rambus by 1,260.3% in the 1st quarter. Larson Financial Group LLC now owns 857 shares of the semiconductor company’s stock worth $44,000 after purchasing an additional 794 shares during the period. Brooklyn Investment Group raised its holdings in Rambus by 19,360.0% in the 1st quarter. Brooklyn Investment Group now owns 973 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 968 shares during the period. Finally, State of Wyoming acquired a new position in Rambus in the 1st quarter worth about $55,000. Institutional investors and hedge funds own 88.54% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on RMBS shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $130.00 price target on shares of Rambus in a report on Tuesday. Wells Fargo & Company upped their price target on Rambus from $73.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday. Weiss Ratings upgraded Rambus from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Saturday. Susquehanna set a $100.00 price objective on Rambus and gave the stock a “neutral” rating in a research note on Monday, October 6th. Finally, Arete Research upgraded Rambus to a “strong-buy” rating in a research note on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $103.38.

Rambus Stock Performance

RMBS opened at $103.72 on Wednesday. Rambus, Inc. has a one year low of $40.12 and a one year high of $114.55. The stock has a market capitalization of $11.16 billion, a PE ratio of 48.92 and a beta of 1.46. The business’s 50 day moving average price is $91.48 and its 200 day moving average price is $71.08.

Insider Transactions at Rambus

In other Rambus news, Director Meera Rao sold 3,000 shares of the company’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $71.72, for a total transaction of $215,160.00. Following the transaction, the director directly owned 29,914 shares in the company, valued at $2,145,432.08. This represents a 9.11% 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, Director Necip Sayiner sold 7,500 shares of the company’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $73.53, for a total value of $551,475.00. Following the transaction, the director owned 38,324 shares in the company, valued at $2,817,963.72. This trade represents a 16.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 29,913 shares of company stock valued at $2,474,452 over the last three months. 1.00% of the stock is currently owned by company insiders.

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.