Ontario Teachers Pension Plan Board Sells 7,863 Shares of Rambus, Inc. (NASDAQ:RMBS)

Key Points

• Ontario Teachers Pension Plan Board reduced its stake in Rambus, Inc. (NASDAQ:RMBS) by 65.5%, selling 7,863 shares and holding a total of 4,135 shares valued at $214,000 as of the latest SEC filing.
• Institutional ownership of Rambus is high, with approximately 88.54% of the stock owned by institutional investors, including significant purchases by Deutsche Bank AG and Charles Schwab Investment Management Inc.
• Analysts have a generally positive outlook on Rambus, with a consensus average rating of "Buy" and a price target of $77.71, supported by recent upgrades from various firms.

Ontario Teachers Pension Plan Board cut its position in shares of Rambus, Inc. (NASDAQ:RMBS - Free Report) by 65.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,135 shares of the semiconductor company's stock after selling 7,863 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Rambus were worth $214,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Deutsche Bank AG grew its position in Rambus by 38.7% during the 1st quarter. Deutsche Bank AG now owns 192,826 shares of the semiconductor company's stock worth $9,985,000 after acquiring an additional 53,824 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Rambus by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,256,346 shares of the semiconductor company's stock valued at $65,047,000 after purchasing an additional 6,600 shares in the last quarter. Westwood Holdings Group Inc. raised its stake in Rambus by 9.3% during the first quarter. Westwood Holdings Group Inc. now owns 1,232,210 shares of the semiconductor company's stock valued at $63,798,000 after buying an additional 104,356 shares during the last quarter. Blair William & Co. IL purchased a new position in Rambus during the first quarter valued at $235,000. Finally, Jefferies Financial Group Inc. purchased a new position in Rambus during the first quarter valued at $209,000. 88.54% of the stock is currently owned by institutional investors.

Rambus Trading Up 1.3%

Shares of Rambus stock opened at $72.86 on Friday. The stock has a 50 day moving average of $64.49 and a 200 day moving average of $58.16. Rambus, Inc. has a 12 month low of $37.42 and a 12 month high of $76.20. The firm has a market cap of $7.84 billion, a PE ratio of 34.37 and a beta of 1.28.

Insider Buying and Selling

In other Rambus news, Director Emiko Higashi sold 1,111 shares of the company's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $75.00, for a total transaction of $83,325.00. Following the sale, the director directly owned 63,371 shares in the company, valued at $4,752,825. This represents a 1.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Steven Laub sold 1,847 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $55.12, for a total value of $101,806.64. Following the sale, the director owned 9,057 shares in the company, valued at approximately $499,221.84. This trade represents a 16.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,611 shares of company stock worth $388,092. Company insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

RMBS has been the subject of several recent analyst reports. Rosenblatt Securities boosted their price target on Rambus from $80.00 to $90.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Jefferies Financial Group upped their price objective on Rambus from $69.00 to $75.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Wall Street Zen cut Rambus from a "buy" rating to a "hold" rating in a research report on Sunday. Finally, Susquehanna upped their price objective on Rambus from $70.00 to $75.00 and gave the company a "positive" rating in a research report on Tuesday, July 29th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Rambus currently has an average rating of "Buy" and a consensus price target of $77.71.

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.

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