Retirement Systems of Alabama Boosts Stake in Rambus, Inc. $RMBS

Retirement Systems of Alabama boosted its position in Rambus, Inc. (NASDAQ:RMBS) by 1.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 131,283 shares of the semiconductor company’s stock after purchasing an additional 1,568 shares during the period. Retirement Systems of Alabama’s holdings in Rambus were worth $8,405,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of RMBS. Banque Cantonale Vaudoise purchased a new stake in shares of Rambus in the first quarter worth approximately $25,000. Bessemer Group Inc. boosted its holdings in Rambus by 105.8% during the 2nd quarter. Bessemer Group Inc. now owns 463 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 238 shares during the period. Hantz Financial Services Inc. grew its position in Rambus by 1,386.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 639 shares of the semiconductor company’s stock valued at $41,000 after acquiring an additional 596 shares during the last quarter. McIlrath & Eck LLC purchased a new stake in Rambus in the first quarter worth $42,000. Finally, Larson Financial Group LLC increased its stake in Rambus by 1,260.3% in the first 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. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Insider Buying and Selling at Rambus

In other news, Director Meera Rao sold 3,000 shares of Rambus stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $71.72, for a total value of $215,160.00. Following the transaction, the director directly owned 29,914 shares in the company, valued at approximately $2,145,432.08. This trade represents a 9.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Emiko Higashi sold 1,075 shares of the business’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $77.75, for a total value of $83,581.25. Following the completion of the transaction, the director directly owned 62,296 shares of the company’s stock, valued at approximately $4,843,514. The trade was a 1.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 28,802 shares of company stock valued at $2,391,127. 1.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on RMBS shares. Robert W. Baird boosted their target price on shares of Rambus from $90.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, September 15th. Rosenblatt Securities reissued a “buy” rating and issued a $130.00 price objective on shares of Rambus in a research report on Tuesday, October 28th. Wall Street Zen downgraded shares of Rambus from a “buy” rating to a “hold” rating in a research note on Sunday, August 10th. Jefferies Financial Group raised shares of Rambus to a “strong-buy” rating in a research report on Tuesday, October 28th. Finally, Arete upgraded Rambus from a “neutral” rating to a “buy” rating and set a $91.00 price target for the company in a report on Thursday, August 28th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $103.38.

Rambus Stock Performance

NASDAQ RMBS opened at $102.84 on Monday. Rambus, Inc. has a one year low of $40.12 and a one year high of $114.55. The company has a market capitalization of $11.07 billion, a price-to-earnings ratio of 48.74 and a beta of 1.46. The company’s 50-day simple moving average is $93.64 and its two-hundred day simple moving average is $72.53.

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.