California State Teachers Retirement System lifted its position in shares of Rambus, Inc. (NASDAQ:RMBS - Free Report) by 22.9% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 124,195 shares of the semiconductor company's stock after buying an additional 23,170 shares during the quarter. California State Teachers Retirement System owned approximately 0.11% of Rambus worth $10,684,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Acumen Wealth Advisors LLC purchased a new position in Rambus in the 4th quarter worth approximately $25,000. Torren Management LLC bought a new position in Rambus during the fourth quarter valued at $26,000. Spire Wealth Management increased its holdings in shares of Rambus by 199.0% in the 4th quarter. Spire Wealth Management now owns 302 shares of the semiconductor company's stock worth $28,000 after buying an additional 201 shares during the last quarter. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Rambus in the 4th quarter worth about $28,000. Finally, IFP Advisors Inc raised its position in shares of Rambus by 126.7% during the 3rd quarter. IFP Advisors Inc now owns 442 shares of the semiconductor company's stock valued at $47,000 after buying an additional 247 shares in the last quarter. Institutional investors own 88.54% of the company's stock.
Insiders Place Their Bets
In other news, EVP Xianzhi Sean Fan sold 37,914 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $151.69, for a total transaction of $5,751,174.66. Following the transaction, the executive vice president owned 168,358 shares of the company's stock, valued at approximately $25,538,225.02. This represents a 18.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Necip Sayiner sold 5,000 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $170.15, for a total value of $850,750.00. Following the completion of the sale, the director owned 18,223 shares in the company, valued at approximately $3,100,643.45. The trade was a 21.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 62,914 shares of company stock worth $9,724,775 over the last three months. 0.75% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
A number of research analysts recently commented on RMBS shares. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Rambus in a report on Friday, June 5th. Rosenblatt Securities reissued a "buy" rating and set a $165.00 price objective on shares of Rambus in a research note on Tuesday, July 28th. Evercore restated an "outperform" rating and set a $172.00 price objective on shares of Rambus in a research report on Tuesday, April 28th. Jefferies Financial Group raised their price objective on Rambus from $120.00 to $145.00 and gave the company a "buy" rating in a research note on Tuesday, April 28th. Finally, Robert W. Baird cut Rambus from an "outperform" rating to a "neutral" rating and set a $120.00 target price for the company. in a report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $139.78.
Check Out Our Latest Stock Analysis on Rambus
Rambus Trading Up 1.3%
Shares of NASDAQ:RMBS opened at $92.21 on Tuesday. Rambus, Inc. has a 12 month low of $67.15 and a 12 month high of $174.10. The company has a market capitalization of $10.00 billion, a price-to-earnings ratio of 42.30 and a beta of 1.88. The firm's 50-day moving average is $123.43 and its 200 day moving average is $114.25.
About Rambus
(
Free Report)
Rambus Inc is a technology licensing company specializing in semiconductor and system-level interface solutions. Founded in 1990 by Stanford University researchers Mike Farmwald and Mark Horowitz, Rambus established its headquarters in Sunnyvale, California. The company initially gained prominence by developing high-speed DRAM interface technology and securing a broad patent portfolio covering memory architecture, data signaling and power management innovations.
Today, Rambus licenses its proprietary intellectual property (IP) to semiconductor companies, original equipment manufacturers (OEMs) and system integrators worldwide.
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