New York State Common Retirement Fund Raises Stock Position in Rambus, Inc. (NASDAQ:RMBS)

New York State Common Retirement Fund boosted its holdings in Rambus, Inc. (NASDAQ:RMBS - Free Report) by 93.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 352,312 shares of the semiconductor company's stock after buying an additional 169,852 shares during the quarter. New York State Common Retirement Fund owned approximately 0.33% of Rambus worth $18,241,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of RMBS. Vanguard Group Inc. raised its stake in Rambus by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 12,594,979 shares of the semiconductor company's stock worth $665,771,000 after acquiring an additional 31,645 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Rambus by 442.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,449,128 shares of the semiconductor company's stock worth $288,042,000 after purchasing an additional 4,445,146 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Rambus by 72.1% during the fourth quarter. Invesco Ltd. now owns 4,999,748 shares of the semiconductor company's stock worth $264,287,000 after purchasing an additional 2,093,953 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Rambus by 1.7% during the fourth quarter. JPMorgan Chase & Co. now owns 4,184,370 shares of the semiconductor company's stock worth $221,186,000 after purchasing an additional 68,975 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Rambus during the fourth quarter worth about $94,368,000. Hedge funds and other institutional investors own 88.54% of the company's stock.

Insider Transactions at Rambus

In related news, CEO Luc Seraphin sold 6,348 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $46.97, for a total value of $298,165.56. Following the completion of the sale, the chief executive officer owned 319,241 shares in the company, valued at $14,994,749.77. This trade represents a 1.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Steven Laub sold 1,847 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $55.12, for a total transaction of $101,806.64. Following the completion of the sale, the director owned 9,057 shares of the company's stock, valued at approximately $499,221.84. The trade was a 16.94% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,848 shares of company stock valued at $602,933. 1.00% of the stock is owned by insiders.

Rambus Stock Performance

NASDAQ:RMBS traded up $0.04 during mid-day trading on Friday, reaching $68.21. The stock had a trading volume of 1,036,686 shares, compared to its average volume of 1,234,198. The firm has a market capitalization of $7.33 billion, a price-to-earnings ratio of 35.53 and a beta of 1.24. Rambus, Inc. has a twelve month low of $37.43 and a twelve month high of $69.40. The business has a 50 day simple moving average of $59.61 and a 200 day simple moving average of $56.80.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RMBS. Wall Street Zen downgraded shares of Rambus from a "buy" rating to a "hold" rating in a research note on Monday, May 19th. Rosenblatt Securities reiterated a "buy" rating and set a $80.00 target price on shares of Rambus in a research note on Tuesday, April 29th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $75.00.

About Rambus

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.